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The fate of the Old Teachers’ College is again unclear after Council declined to manage the historic building.
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An Armidale Regional Council feasibility study found the cost of repairing and maintaining the building exposed Council to an unacceptable level of risk.
“It’s a disappointing decision,” organisation services leader Lindsay Woodland said.
“We would have like to have had the opportunity to be the corporate trust manager for the building and to keep it in community ownership.
“But there are a number of risks with the building.”
Council’s main issue was not being able to guarantee they could recover the outgoings cost each year with rent, therefore costing ratepayers money.
“We did a feasibility study, which looked at if we could get commercial rents, would they offset the outgoings every year,” Mr Woodland said.
“The issue is, that there is no guarantee that you are going to get commercial rents in a building like that.
“And the work that you need to do to achieve commercial levels of rent is millions of dollars in repairs, refurbishment and renovation of the building.”
A shadow was cast over the building’s future in February when the University of New England declared it would no longer act as manager.
The heritage listed building was costing the university about $500,000 per year.
And the University took the role on a voluntary basis and was under no obligation to continue as trust manager.
The NSW Department of Industry – Lands, who controls of the building, will now need to find a suitable manager.
The Armidale School has already ruled itself out.
But The Express understands there is a party yet to publicly declare its interest in managing the building.
“It is only right and diligent that the School explore any resources and opportunities that may become available,” TAS Board chairman Sebastian Hempel said.
“However, our immediate focus remains on the completion of a new boarding house in time for 2018 and TAS has no plans to pursue interest in the Old Teachers’ College at this time.”
Council said it would now work with the department to find a suitable manager.
It has also not ruled out taking a second look at the building if another manager cannot be found.
“The right owner is someone who can look after the building, someone who is going to take an interest in the building and be able to maintain the building moving forward,” Mr Woodland said.
“At the end of the day, you have to make a prudent decision.”