Lawmakers offer to buy Anchorage LIO building for $32.5 million
The Legislative Council, which makes recommendations to the rest of the Legislature, voted to purchase the Anchorage Legislative Information Office at a price of $32.5 million, after nearly two hours of debate behind closed doors.
The motion passed 13 to 1. Rep. Mark Neuman was the only member to vote against it.
The decision comes after a Superior Court declared the Legislature’s current lease invalid.
The council has been trying to decide whether to purchase the building for more than two years. Sen. Gary Stevens, chair of the Legislative Council, said it was a price members of the council were finally comfortable with, calling it comparable to a move to the already state-owned Atwood building downtown.
Mark Pfeffer, developer of the building, testified before the Legislative Council Thursday evening, with an asking price of $34 million, down $3 million from his previous offer.
Stevens said the council is “drawing a line in the sand,” and hopes Pfeffer will accept the lower price. When asked what would happen if Pfeffer rejects the offer, Stevens replied, “I suppose we move, we find another facility.”
“We are glad they came to a decision. Now we have something to talk about,” said Amy Slinker, a spokeswoman for 716 West Fourth Avenue, LLC, Pfeffer’s company. “We are going to analyze it and get back to them soon.”
Stevens said he’s spoken with Mayor Ethan Berkowitz about the city’s possible participation in financing the building.
The post Lawmakers offer to buy Anchorage LIO building for $32.5 million appeared first on KTVA 11.