State Center Community College District (SCCCD) Board will meet tonight in closed session at Reedley College to discuss the purchase of a property located at 1177 Fulton Street; this property is the Guarantee Savings Building.
The agenda item states the negotiations will take place between SCCCD staff, Chancellor Paul Parnell, Vice Chancellor and Christine Miktarian, and GBB Holdings, LLC where terms and price will be discussed for the building and adjacent parking structure.
If the building is purchased by State Center Community College District and students are among the daily occupants, Fulton Street will receive the traffic it desperately needs. Currently, the first floor is unoccupied and if SCCCD desires the Guarantee Building to be a satellite campus, it will have 13 floors to build classrooms or house administrative staff. Note, the Internal Revenue Service does occupy some floors in the building.
The Trustee leading the charge, Miguel Arias said,
“I am proud of our Board as this action takes us from the sidelines of revitalizing our city to forefront of it.
It also reduces the potential displacement of residents and small businesses near Fresno City College as we invest more than $100 million in science, math, and parking expansions.
The purchase is fiscally prudent and ensures the public owns this great historical asset out right instead of paying decades of lease payments for an option to purchase later.
Moreover, the relocation of all our district staff to the heart of Fresno’s downtown is the right thing for our 45,000 community college students and our City. Great cities have great education at their heart. State center now joins Fresno Unified and Fresno State in that endeavor.
This purchase is the latest action following the acquisition of the Fraizer property for the New West Fresno college center in which our District has utilized our local bond dollars to revitalize our City.
We are keeping our promise to voters by making promising investments in our collective City’s future.”
The Guarantee Savings Building was built in the 1920’s and is listed for $15,575,000.00. The purchase of the parking structure with 642 parking stalls is also under negotiation tonight.
Story will be updated.