$2M to buy back a building sold for $10

Childsplay building/Phoenix New Times
Childsplay building/Phoenix New Times

By Chris Coppola | The Republic

Tempe may spend nearly $2 million to purchase a local theater group’s headquarters building — a structure the city sold to the organization for $10 in 2006.

City officials say Childsplay Inc. made improvements they believe are valued at nearly $2.3 million. The work for the performance group’s building, the former Mitchell Elementary School near Ninth Street and University Drive, included a new roof and asbestos abatement, as well as inside renovations that made the space functional for Childsplay.

The city’s offer to buy back the facility came after Childsplay approached Tempe about modifying the original agreement to allow for the use of the building as collateral to secure loans, something not allowed under the deal.

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