What Happens To Excess MCS Property Post Merger?
(Memphis) One hundred and eighty schools are part of the Memphis City School System.
MCS owns the buildings and the contents.
All of it will become property of Shelby County once the two systems merge.
But it’s not just schools, what about all those other support buildings?
“Those properties would be titled into the name of the new entity,” says Memphis School Board Member Martavius Jones.
He says what the new school system will be called is still a work in progress and names like Memphis-Shelby County Schools have been bantered about.
But whatever the system will be called, it will be the new owner to a property bonanza.
It will own not just open buildings now held by MCS, but also closed buildings that may not have been used for years, but are still on the MCS roll.
“I think you could very well have 200, 225 or 250 properties that are owned by MCS,” says Jones.
The schools system says it has 20 vacant properties valued at 6.9 million dollars.
There is even property the school system just hasn’t used yet, like space adjacent to Brewster Elementary which MCS bought with plans to build on, but never did.
“A lot of times when school property is acquired then a certain amount of acreage has to be purchased and certain times based on revisions to building plans, some of those properties adjacent to schools may not have been used,” says Jones.
Also, look for Memphis City Schools to sell off some of the property it owns.
A decision on vacant property near Brewster Elementary is one of the items up for discussion when the school board meets next week.