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Appraisal Values CWI-Boise Parcel at $8.975 Million


In April, the College of Western Idaho board of directors signed a purchase agreement for a 10-acre parcel of land in Boise's West End neighborhood for $8.8 million—and immediately landed in hot water when news broke that the parcel had been assessed at $3.6 million.

Late Tuesday, CWI officials announced the college has completed an appraisal of the parcel that values it at $8.975 million. 

"The appraised value of the land reaffirms our confidence that this site is the best location for CWI to develop a campus to better serve the community college district based on its location, size, access and cost," wrote CWI Board Chair Mary Niland in a news release.

CWI trustees have also OK'd the college to prepare for developing the property into what will become the its Ada County campus, contracting with CTA Architects to involve government agencies and the public. CWI is also conducting other analyses of the property. 

"We've got a lot more assessments that need to be done," said CWI Board Member Emily Walton.

Those assessments include an environmental and flood plain analysis that might impact where and how future facilities are built on the site. According to CWI representative Jennifer Couch, the college is also working with the city of Boise and Ada County Highway District.

Assessments and studies must be completed by Tuesday, Oct. 20—180 days after the signing of the purchase agreement with the Rice Family Limited Liability Limited Partnership, and the end of CWI's due diligence period.