Iowa City district rejects lone Roosevelt sale bid

IOWA CITY – As was expected, the Iowa City school board Tuesday night voted to reject a bid to buy Roosevelt Elementary School.

Instead, the district will seek a new appraisal for the property that includes estimates on the financial effects of restrictions the district has placed on the sale.

Roosevelt, 611 Greenwood Dr., closed last week and is being replaced by a new school a few miles away.

The district sought bids for the property, and the lone submission last month was for $201,000, well below the property's appraised value of $770,000. Since then, the district has received about 10 additional inquiries from local and out-of-state parties, Superintendent Stephen Murley said.

Residents of the neighborhood around Roosevelt have said they do not want apartments or a commercial development to go up in the school's place. The school board in the bid documents said the property could be used for offices and educational, religious and health purposes.

After the new appraisal is in, the school board may consider altering those restrictions.

The district estimates it would cost $46,410 annually to maintain the school unoccupied.