The Lexington Urban County Council has authorized the sale of the old senior citizens center to the University of Kentucky for $3.1 million.
The council voted Thursday to approve the mayor signing a letter of intent and any other documents to transfer the property at Nicholasville Road and Alumni Drive to UK.
UK spokesman Jay Blanton said the university’s board of trustees would have to approve the purchase.
He said that the university hasn’t decided how it would use the property, but he that it does open up the possibility of more parking.
“We’ve been very interested in that parcel for a very long time,” he said.
The property at 1530 Nicholasville Road includes 2.83 acres and is bounded by space across from Commonwealth Stadium that UK uses for parking. The building is more than 13,000 square feet, and its parking lot has 115 spaces.
Sally Hamilton, chief administrative officer for the city, told the council that four appraisals have been conducted — two by UK and two by the city. She said a previous offer for the parcel was $2.5 million.
“I have no problem with what has been offered,” said councilwoman Jennifer Mossotti, a real estate agent. “I think it’s fair.”
Hamilton said a public hearing will be held before the property can be transferred. She told the council that the goal is to have the sale completed by the end of this fiscal year.