Manufacturer still interested in Post Falls site
POST FALLS - An undisclosed Washington manufacturing firm that serves the aerospace, industrial, electronics and energy industries is considering relocating to Post Falls.
The considered site at Riverbend Commerce Park in Post Falls is owned by North Idaho College.
Chris Martin, NIC's vice president of finance and business affairs, said the company currently employs 165 people and expects to have more than 250 over the next decade. The size of the facility would be 100,000 square feet or more.
NIC owns 10 vacant lots on 11.4 acres adjacent to its Workforce Training Center in the commerce park. Martin said the site was earlier considered for NIC's new Career and Technical Education (CTE) Facility that's under construction in Rathdrum.
"There's no current plans for the site," he said.
NIC had two appraisals completed for the site - one was for $1.24 million and the other $1.19 million.
The manufacturing company that's interested in the property made an offer for $844,860, which was rejected by the NIC board earlier this month. It was the lone bid received and, under state law, NIC had to reject it because the amount is lower than the appraised value.
However, the college can now accept any offer and the board instructed staff to market the site, Martin said.
"It's now like a typical land sale," Martin said. "The board reserves the right to reject or approve any offer."
The board will consider the manufacturer's secondary offer of $993,960 at its Tuesday meeting at 3 p.m.
In a letter to NIC officials, Mike Schmitz of SDS Realty, which represents the manufacturer, said Tuesday that the company remains interested in NIC's site.
"Our increase to $993,960, although higher than the agreed-upon prices of the other properties we are considering, is our way of showing that we are most interested in your property," Schmitz wrote. "We look forward to continuing our tradition of being an active local high-tech manufacturer and strong community supporter. We are excited to be working with you on this important project and relocating to the state of Idaho. We do prefer your Riverbend property over the other sites we are considering."
Schmitz declined to comment further when contacted, citing the ongoing negotiations.
Martin said the manufacturer is interested in NIC's property due to its proximity to Interstate 90.
The proposal is referred to "Project Atlas" in correspondence letters between agencies involved. The city of Post Falls wrote a letter of support for the proposal to NIC in June, emphasizing its desire for quality jobs in the region and intent to partner with the company on state-sponsored programs.
In a July 10 letter to NIC officials prior to the bid opening, Doug Trimpe of Advanced Real Estate and Appraisal said commercial and industrial activity has lagged despite the housing rebound.
"I will be surprised if you will get any offers, but then you never know if there is that one buyer out there," Trimpe wrote.