Many people are wondering why the Sedgwick County Commission signed a letter of intent last week to sell the Kansas Coliseum site for only $1.5 million when it was last appraised at $22 million. Commissioner Karl Peterjohn contends that the appraisal amount is “about as bogus as a $3 bill.” He said it was valued when Britt Brown Arena was still open and before it needed extensive repairs, including a new roof. He also argued that the value of property is ultimately determined by what a buyer is willing to pay, and the county hasn’t been getting offers since it requested proposals in 2009. Peterjohn said that during the eight days between when The Eagle first reported the possible sale and the commission’s vote last week, his phone was silent as to other offers.
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