Pending board approval, West Virginia University at Parkersburg could sell part of its downtown campus space this week.
The university Board of Governors will meet Wednesday to consider selling two of three university-owned locations at the Downtown Center on Parkersburg's Market Street. Parkersburg Brewing Company and the Mid-Ohio Valley Area Development Corporation have put in bids to each buy one of the center's spaces. The third is still on the market.
When asked how much the two companies are offering for the properties, University President Fletcher Lamkin said he didn't want to release a number until the board decides whether to OK the purchase.
"I'll just say the offers are reasonable and being considered," he said.
Since 2013, the university housed its culinary program at the center. Earlier this year, the university board suspended the program due to low enrollment. It had been located at the facility since January 2013.
The program also was losing money, Lamkin said
"I didn't think it was fiscally responsible to continue running a program that wasn't making any money," he said. "That's why it was suspended."
Lamkin went on to say the university considered several options for the vacated space, like leasing the building or restructuring to make it profitable.
"We found our best option, from a fiscal standpoint, was to just sell it," he said.
While the culinary program was active, the building cost the university $100,000 a year to maintain. Selling the property relieves the university of that expense, though Lamkin said the remaining location still will require some upkeep.
"Maybe $20,000 or $30,000 a year to keep it in good condition," he said, adding that he doubts it would need any major work before it is sold.
While there isn't an offer on the third location, Lamkin said he expects it will attract suitors if the other two sales go through.
"The possibility of a sale is better than it was before," he said.
Continued budget cuts led to the culinary program's suspension and need to sell the downtown space, Lamkin said.
Gov. Earl Ray Tomblin's 4 percent budget cut to most state agencies slashed the college's appropriation by $400,000. Lamkin said it was a painful cut to make.
"We're not talking about trimming fat from the budget because there ain't no fat left," he said. "Those cuts are cutting into the bone."
The university has made significant program cuts to balance its budget, Lamkin said, and more could be on the way if the state continues to reduce appropriations to higher education.
"We look at all our programs to see what we can do to make them operate in an efficient manner," Lamkin said. "I can see possible further reductions."
The sale will be considered during the university board's meeting at 3:15 p.m.
West Virginia University at Parkersburg is a community college affiliated with West Virginia University.
Reach Samuel Speciale at sam.speciale@wvgazettemail.com, 304-348-7939 or follow @samueljspeciale on Twitter.