Trustees vote to purchase Red Ram Motel for student housing

Tuesday, April 24, 2018

The Fort Scott Community College Board of Trustees on Monday moved forward with the purchase of the Red Ram Motel for student housing.

Following an executive session to discuss acquisition of real property that lasted about an hour and 45 minutes, trustees returned to open session and unanimously approved two motions; one to purchase the Red Ram motel located at 701 N. National Ave., and another to authorize the issuance of certificates of participation estimated to be $900,000.

The closed session included all board members, FSCC President Alysia Johnston, Dean of Finance and Operations Julie Eichenberger, attorney Zack Reynolds, FSCC Athletic Director Tom Havron, and John Haas representing Ranson Financial Group LLC, the college’s financial advisor.

Since March, the board has been discussing the purchase and renovation of the motel property and have considered two apartment complexes, the Sycamore Grove Apartments at 401 W. 10th St., and the Garrison Quarters Apartments at 1731 S. Horton St. College officials have been researching possible ways to address student housing, and increase revenue and enrollment without raising taxes.

There was no discussion on the topic during the meeting. Johnston spoke with the Tribune following the meeting. She said the “only consensus at this time by the board is on the Red Ram Motel.”

“The only authorized purchase is the Red Ram Motel,” she said. “They did not decide to move forward on one of the other properties, but there is still the possibility of doing that.”

Johnston said the approval does not affect a resolution approved by the board in early March that involves acquiring and renovating properties into housing for college students. The resolution states the board has determined “the advisability of financing the acquisition, construction, installation and equipping of certain improvements by the execution and delivery of a lease purchase agreement.”

The resolution states the college would buy property, “but not what property,” Johnston has said.

The resolution also states the college would eventually enter into a lease purchase agreement to acquire properties to “renovate, furnish and equip the same to serve as student housing facilities. The college will be authorized to contract for improvements at an estimated cost not to exceed $1,470,000.”

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