Sorenson purchase would be a 'win-win' situation
Recently, questions have surfaced regarding the ownership and sale of the Sorenson School property in Woodinville. The primary question asks why the citizens of Woodinville should pay for the property and facilities a second time when they have already paid for it via bonds (and resulting taxation) by the Northshore School District.
This is a valid question.
First, the school system cannot simply "give" property away. As required by state law, prior to the sale of its property, the district must obtain a market value appraisal by a professionally designated real estate appraiser. In this case, the district secured three independent appraisals.
State law then requires the district to sell the property for no less than 90 percent of the appraised value. It just so happens that, in this case, the City of Woodinville is the interested buyer.
Second, proceeds from the sale of the Sorenson complex will be used to reduce taxes for Northshore residents by lowering the size of the district's next bond issue. The proceeds, in combination with state matching funds and new bond dollars, would: (1) help renovate and expand existing school facilities to accommodate the current Sorenson students as well as the 350 students new to Northshore just this past year; and (2) address other capital needs as identified by the citizen Capital Projects Task Force.
Overall, the sale of Sorenson property will be a "win-win" situation. The citizens of Woodinville will receive property and facilities located in the heart of its city, and the school system will be able to move forward addressing both growth and care of facilities while lowering the size of its next bond issue and the accompanying taxes.
Phil Macfadden, Chair, Capital Projects Task Force, Northshore School District