Kenton County Tries Again to Rid Itself of PDS Building in Ft. Mitchell
The Kenton County Fiscal Court rejected the one bid it received for the Planning & Development Services (PDS) building in Kenton County.
In November, The River City News reported that the county had hoped to receive $3 million for the property in Ft. Mitchell on Royal Drive.
But the county received just one bid, and the fiscal court decided against accepting it last month.
County Administrator Joe Shriver told RCN that the bid did not satisfy the minimum reserve of $3 million.
Now, in its second attempt to dispose of the property, the county is adjusting its goal.
"We rejected that one and basically said, you know what? We're going to see what the best and highest bid will be," Shriver said last month.
The fiscal court, he said, would still reserve the right to reject any and all bids.
Kenton County acquired the property as part of PDS's move to the new county government building on Simon Kenton Way in Covington.
The county paid off $1.3 million in bond debt on the building as part of the purchase.
The building sits on Royal Drive near the former site of the old Drawbridge Inn, a Northern Kentucky landmark since demolished where Bellevue-based Brandicorp was working with Christ Hospital on a new mixed-use development, but Christ announced late last year that it was giving up on building there following legal battles with St. Elizabeth Healthcare, which opposes Christ's planned surgical center
The building is adjacent to Interstate 71/75 and boasts a tall sign that Shriver believes is attractive to a prospective buyer.
"We're casting the net out again," Shriver said. He noted that some prospective buyers showed up at a pre-bid meeting who said that they were unsure whether they could hit the $3 million threshold. "They are clearly interested enough."
"We do not want to become landlords, of course," Shriver said. "I can't imagine it being a long bidding process."
Written by Michael Monks, editor & publisher