The Carroll ISD board of trustees unanimously approved its next step to sell the CISD property located on 801 Shady Oaks Drive, which is where Don T. Durham Intermediate School is located, at its Feb. 23 board meeting.
What’s happening?
The board is issuing a request for qualifications to find property broker services to aid the district with the eventual selling of the property, which won’t be done until the 2027-28 school year.
“Selling government surplus property is ... time consuming, and there’s a lot of steps that we have to take to legally be able to sell property,” Superintendent Jeremy Glenn said.
The request for broker services will be posted for three weeks to see who is interested in helping the district sell the property, Glenn said. Once they get the applications back, district officials will bring the board of trustees a declaration to sell the surplus property after the board declares the property surplus.
“The Durham property is about 30 acres, and so that's a large, very valuable piece of property, and so we want to make sure that we put it out on the market more than the required two weeks,” Glenn said.
At the time that the board of trustees declares the property surplus, then they can assign the property to a broker and the property will be put out for bids, he said.
Then the board can choose to accept or reject the proposed bids, Glenn said.
“We’ll put those monies into a high yield account and try to use it to generate revenue,” he said.
This whole process is expected to take a year, Glenn said.
The background
The Carroll ISD board of trustees voted to close Don T. Durham Intermediate School ahead of the 2027-28 school year at its Jan. 12 work session.
The property is anticipated to earn the district $20 million to $25 million, Deputy Superintendent of Finance and Operations Chase Park said. That money will go into an account that will earn the district about $1.25 million in interest each year, board President Cameron Bryan said.
This will help the district deal with an enrollment decline over a six-year span and a state funding loss of roughly $7 million, per previous reporting.
“I want to take this opportunity to thank the community again for passing our [voter-approval tax rate election], which has helped tremendously,” Bryan said. “It hasn’t solved our deficit problem, but it sure has helped out in many ways.”
The VATRE, which was passed by voters during the Nov. 4 election, is expected to generate an additional $3.8 million for the district.
In other news
The Old Dragon Stadium plat revisions was recommended for approval by the Southlake Planning and Zoning Commission on Feb. 19. Southlake City Council will look at the plat revision at its March 3 meeting, and if that’s approved, then Carroll ISD can close on the sale, Director of Facilities Lanny Mooney said.
The property was approved to be sold to the city of Southlake for $8.75 million and be made into a green space with a potential park and trails, according to previous Community Impact reporting.
