Manufacturer rejects NIC Riverbend proposal
COEUR d'ALENE - A Liberty Lake manufacturer on Monday rejected the North Idaho College board's proposal on 11.4 acres at Riverbend Commerce Park in Post Falls.
AccraFab, which serves the aerospace, industrial, electronics and energy industries, is expanding and seeking to relocate. The company currently employs 165 and expects to employ more than 250 over the next decade.
"It goes back to the price that they're willing to pay," said Chris Martin, NIC's vice president of finance and business affairs, referring to the reason the college was given for the rejection.
Martin said both sides - the board and company - have indicated they have likely come as far as they are willing to on the proposal. However, the board late Monday afternoon decided to hold a special meeting tonight at 7:30 to discuss the property further.
The NIC board proposed to sell the property for $1.069 million, but the company made a counteroffer on Friday that, after the college pays for realtor fees and closing costs, would have brought the final number to $963,465.
At Friday's meeting, the board then, on a 4-1 vote, countered with a $1.028 million proposal that included the company donating two of the lots totaling 1.5 acres to the nonprofit NIC Foundation and NIC paying the realtor fees.
Board member Christie Wood cast the lone dissenting vote, saying the difference in price wasn't a deal breaker for her, especially considering the long-term economic benefits the company's relocation would bring.
"Sometimes one side has to give a little," she said. "We'd benefit and so would Kootenai County. I'm more of a long-term thinker than short-term. I believe that this (counter offer) is going to kill the deal."
But board member Ron Nilson said the board already had bent enough, as appraisals for the site were $1.24 million and $1.19 million. He said bending even more would be a disservice to taxpayers.
"We have been giving, giving, giving and their offer is not strengthening," Nilson said. "Are we prepared to walk away?"
Board member Ken Howard said NIC's latest counteroffer was a thoughtful one that attempted to meet the needs of both sides.
Mike Schmitz of SDS Realty, which represents the manufacturer, earlier told the board that the company is considering other sites on both sides of the border but preferred Riverbend due to its proximity to both NIC's Workforce Training Center and Interstate 90.
The company's original offer of $844,860 was rejected by the board last month when it was the lone bid received. Under state law, NIC had to reject the bid because it was lower than the appraised value. However, the college was then allowed to accept any offer like a typical land sale.