LAKE CHARLES, LA (KPLC) - One week after having the old Harrah's property appraised, the Lake Charles City Council is having second thoughts on their asking price. According to appraisers the property, not including the parking garage, should not sell for less than $3,270,000.
After thinking on it a week the council agreed the property is worth much more and is now asking for no less than $4,000,000.
With the parking garage in need of more than $1,200,000 in repairs the City went ahead and had the property appraised separately to get the most bang for their buck. However they are making it very clear that the developer have a plan to fix the garage.
"I was thinking more that the minimum sale price ought to be $4,000,000 and it ought to tie the garage in to having to fix it. And that would be another $1,500,000 and that would bring the sale price up to $5,500,000," said Dana Carl Jackson, Lake Charles City Council.
"My concern is that we need to go one at a time so we don't wind up with this property like we did the Sears property... Talking about it, talking about it raising the price, lowering the price and we wind up with the same thing - nobody interested," said Rodney Geyen, Lake Charles City Council.
"Some of you seem to feel this garage is a gold mine and I'm still hoping to be convinced that it is. To me it is taking up property. It's unsightly and I wish we could have had it torn down from the get go and let the purchaser decide what they want to do," said Luvertha August, Lake Charles City Council. "If we get to that point, I think they need to keep the elevators maintained, have a clearly marked crosswalk for pedestrians, along with security lights and security cameras as well as patrols. Because if you leave this unattended you are setting yourself up for a big problem."
The purchaser will ultimately decide what they want to with the garage, which by the way according to engineers is feasible for repair. The property will soon be advertised for $4,000,000 as the City waits for bids to roll in.