A new owner for the North Arkansas College Center Campus in Harrison has been selected. Meeting in a special session Thursday, the college’s board of trustees accepted the offer submitted from former Harrison mayor and local businessman Jeff Crockett. The sale is subject to final approval by the state of Arkansas.Crockett, who owns Crockett Properties, submitted the highest offer of $712,500 for the entire property.
The college advertised the property including the tower, the Durand Center, the connecting atrium and the immediate parking lot located on a 2.6 acre site at 303 North Main in Harrison for sale earlier this month.
Attempts to sell the properly follows the discovery of mold last August in the tower, causing employees to be evacuated to other locations. The college examined a variety of options to preserve the building but found the cost of repairs would exceed the value of the building.
College officials began the process to sell the center campus with the understanding the Durand Center could be owned only by a government entity prompting Northark to offer the tower side for sale last spring. No offers were received.
Since then, officials discovered the entire property could be sold to either government or non-government entities.
Three offers were received Tuesday in response to the college advertising a Request for Proposals.
The City of Harrison offered $70K for the Durand Center, but only if the college demolished the tower. Powermax Electric, based in Springfield, made two offers. The company offered $40K for the entire property, and the Durand Center would be leased to the City of Harrison for $1. The second Powermax offer was for $180K for the entire property.
Crockett will send $20K in earnest money within three days after the Intent to Award is issued.
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