The city of New Port Richey bought the Harry Schwettman Education Center from the Pasco County School Board in September but has not decided what to do with the property.
At its Sept. 5 meeting, the city council, acting as the Community Redevelopment Agency, heard from CRA Executive Director Debbie L. Manns. She told the board the property was appraised two years ago for $2.8 million, but “a considerable amount of money would need to be invested in the building to accommodate any future re-use of the building. And in order to finance that investment, it makes sense to a) to pay a reduced fee for the property and b) to use what capital you might have paid for the purchase of the property to invest in the building to make it suitable for redevelopment purposes.”
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