On Monday, the Ketchikan Gateway Borough Assembly will decide whether to purchase the Transit Department’s bus barn on Copper Ridge.
The borough now leases the property at a rate of about $125,000 a year. Through a purchase option in the lease – and with the help of a federal grant — the borough can buy it outright for $760,000. The bus barn’s current owner is BAM construction.
According to a Transit Department memo, if the borough continues to pay rent for the next 25 years – which is the estimated useful life of the building – it would pay more than $3 million.
Also on Monday’s agenda is authorization of voter-approved school bonds. The $5.5 million in bonds would be issued to pay for various school improvement projects.
The Assembly meeting starts at 5:30 p.m. Monday in Borough Assembly chambers at the White Cliff building. Public comment will be heard at the start of the meeting.