Missouri River Regional Library board members are hoping to increase the size of the Osage County branch by purchasing the Linn building where it is housed.
The Osage County Library operates on the lower level of the 1014 E. Main St. building; it uses 4,680 square feet, a third of the building's total space. Buying the building from Legends Bank would allow the library to grow and expand its services in the future, MRRL Director Claudia Schoonover said.
The board unanimously voted Tuesday night to begin negotiations with the bank. They are also interested in three adjacent lots - two undeveloped - for $10,000 that could be used for parking.
The building was appraised for about $425,000, Schoonover said. At the meeting, board members discussed a potential offer, but opted for conversations with Legends representatives before negotiating a price. They also will consider construction and renovation costs as well as reoccurring costs that will increase with more space.
Under the scenarios discussed, the bank would consider the library a community developed corporation and establish a lease-purchase agreement so the library eventually would own the building. While the total is undetermined, Schoonover gave the board an idea of monthly payments for various term limits: $1,850 over 30 years, $2,410 over 20 years, $2,986 over 15 years and $4,153 over 10 years. The library currently pays $1,800 monthly. They will also set an interest fee.
The MRRL Capital Facilities Committee met prior to the regular board, and toured the building. The walk-through revealed apparent water damage, prompting discussions of an engineer review of the structure.
Dollar General utilizes the most space at 7,254 square feet that the library would acquire, said Betty Hagenhoff, MRRL assistant director for business and facilities. The store will likely move elsewhere in Linn, she said.
If the sale goes through, Schoonover expects the Osage County Library to move to the upper level to improve accessibility and visibility. Noelle Parker, Osage County Library manager, said she plans to create study space, meeting rooms, specialized areas for children and teenagers and more rooms for book collections with the higher square footage.
Schoonover, Hagenhoff and four of the Osage County Library Board members will lead negotiations with Legends Bank.