January 28, 2013 | Back to: News

Appraisal values Truckee Veterans Hall at $845,000

TRUCKEE, Calif. - The current market value of the iconic Truckee Veterans Hall Building on High Street is $845,000, according to an appraisal late last year.In light of potentially selling the building to Tahoe Forest Church, the Truckee-Donner Recreation & Park District tasked McBride-Stavis Appraisers with finding its value. The appraisal also valued the nearby district-owned vacant lot on Keiser Avenue at $65,000.If the district were to sell the building, needed parking improvements, estimated to cost between $150,000 to $200,000, would be deducted from its value, district General Manager Steve Randall told the TDRPD board of directors at last Thursday's meeting.According to previous reports, the district bought the building in 1994 for $1 from Nevada County, which had plans to demolish it.TDRPD since has spent approximately $25,000 remodeling the hall. The district also purchased the Keiser lot for $38,000 to provide additional parking.The building was acquired to provide needed indoor recreation space in Truckee, but since the 2009 completion of the Community Recreation Center at the Pioneer Center roundabout, the Vets Hall has gotten limited community use.Currently, the building is being utilized year-round by a cribbage club and aikido judo classes, according to the district, and seasonally by the American Youth Soccer Organization for indoor soccer, and for 50-and-older basketball and youth group ski rentals."All of those programs could potentially be moved to other locations," Randall told the board Thursday.The Veterans Hall has accrued an average annual loss of $21,150 the past three years, according to the district.Some residents have expressed concern regarding the potential public-to-private sale, citing the historical significance of the property, potential traffic and parking issues and continued public access to the Rocking Stone, among others.In an earlier meeting, it was suggested a parcel split be done for the Rocking Stone. On Thursday, Randall said the split, while possible, would take approximately an additional $100,000 off the sale price.At December's TDRPD meeting, several Tahoe Forest Church members defended the potential sale, saying the property would be open to public and drastic changes to it wouldn't be made.A neighborhood meeting among Tahoe Forest Church, TDRPD and community members was held on Nov. 27 at the Veterans Hall. Another public meeting is planned for a to-be-determined date.


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Tahoe Daily Tribune Updated Jan 29, 2013 01:19PM Published Jan 28, 2013 08:28PM Copyright 2013 Tahoe Daily Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.