COLD SPRING, Ky. — The Campbell County Board of Education voted to settle the lawsuit related to the former Disabled American Veterans property in Cold Spring at their meeting Monday night.
The years-long battle has been over who has the rights to the property owned by Cold Spring. After meeting in an executive session, the board voted to sign and accept a settlement agreement and mutual release of claims by and among the city of Cold Spring and the Campbell County Board of Education.
After Campbell County Schools Superintendent Shelli Wilson recommended that the board vote to settle, all members voted yes except for Richard Mason.
The property has been embroiled in an eminent domain fight since the locally-known DAV moved from its Cold Spring facility to Erlanger in the summer of 2021.
The Campbell County Board of Education attempted to purchase the site by eminent domain after the DAV turned down their bid in favor of Cold Spring’s bid.
Cold Spring owns the property along U.S 27, and now that the school board settled the lawsuit to acquire the property, the city still owns it.
In a release issued Tuesday morning, the Campbell County school board said that circumstances had substantially changed since they began the pursuit of the property in 2020.
“At the time of the purchase, it was estimated that a new Middle School would cost approximately $42 million,” the release said. “Of this, $10 Million would be saved due to the purchase of the existing building, thus, bonding approximately $32 Million. Today, we are looking at costs in excess of $60 Million for this same project.”
Construction costs were a big factor in the decision, the board said in the statement.
“This was a perfect storm for our Board,” said Peggy Schultz, board vice chairperson. “At the time of the initial decision, the DAV property was an excellent property for future development of a second middle school. However, lingering circumstances have changed dramatically, and unexpectedly.”
Because of the district’s immediate infrastructure needs, the district said, they were forced to reevaluate their plan to acquire the property.
“We are going to use this as an opportunity,” said Superintendent Shelli Wilson. “Reevaluation can lead to even better outcomes. Reevaluation involves stepping back to widen the lens, opening ourselves up to alternative approaches and potential solutions which may not have been seen previously.”
Wilson said in the release that the district will begin planning and communicating the next steps with the community immediately.
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