Douglas County School Board turns down $100k request from buyer of KMS

During their meeting Tuesday, the Douglas County School District Board of Trustees turned down a request by the buyer of Kingsbury Middle School (KMS) for almost $100,000 to be spent on a environmental impact study of the planned development of the South Shore property.

In July, the board accepted a $3.15 million offer for the former school from Patrick Taylor, managing member of Lake Tahoe, LLC. The school, which is located in the Lake Village neighborhood, was closed after the 2008-09 school year due to low enrollment. The school district put the 22.4 acre property up for sale in 2012 for $4 million.

In an unanimous decision, the DCSD board turned down Taylor's request for the study which was estimated by Douglas County to be approximately $99,562.

When Taylor made an offer on the property it was on the condition he'd be responsible for taking on any zoning changes. He has proposed a 420-unit affordable housing project on acreage that is zoned for schools.

The offer for KMS was originally $3.125 million, but with the District paying the monthly utility bill of $4,000 to $8,000 (depending on the season), they raised the sale price to $3.15 million to cover these bills while the property is in a year-long escrow.

“They requested a 12-month closing,” said DSCD Superintendent Teri White said at the time of the sale. “We’re also working with the county and TRPA to get the revised redevelopment plan approved, so the 12-month closing just buys some time to make sure that those two things are in place by the time we’re ready to close."

Superintendent Teri White agreed with the board’s decision not to fund the environmental impact study, saying there was just too much risk financially.

Taylor has until July, 2017 to get the zoning changed and finish funding the purchase.

He has also made an offer on the old Wells Fargo Bank at Stateline which is located on the corner of Lake Parkway and Highway 50. This project would convert the old bank into a new mixed use building with 56 units of affordable LIHTC (Low Income Housing Tax Credit) apartments/condos as well as five retail spaces totaling 17,000 square feet