Water Authority to Purchase Coulter Building for Administrative Office

ROANOKE, VA--At its meeting on January 20, the Western Virginia Water Authority’s Board of Directors approved the purchase of the Coulter Building at the corner of Franklin Road and Jefferson Street in downtown Roanoke to house its administrative office. Presently, the Water Authority administrative staff works in four separate locations, including two Utility Billing Offices: one in the City of Roanoke's Municipal Building and one in Roanoke County's Administrative Center.

"On behalf of the Board, I can say that we are delighted to be establishing a centralized, cost-effective office of our own," said Mike Altizer, Chair of the Water Authority's Board of Directors. "Having Water Authority administrative staff in one location will increase efficiency among staff and improve customer service."

During the planning phase of the Water Authority, its steering committee elected to form the regional authority on July 1, 2004, and continue operating out of city and county facilities while identifying a centralized office location. "We are grateful to the city and county for allowing the Water Authority to start up operations in their facilities," said Mr. Altizer. "We did not want to delay the formation of this Authority while we searched for a building of our own."

The Water Authority will purchase the Coulter Building for $3.32 million. Water Authority staff worked with area realtors for several months to identify a suitable building to lease or own. The purchase of the Coulter Building was selected as the most attractive option for numerous reasons:

• The Water Authority will lease the majority of the building’s space, which will offset the building’s cost. Moreover, the Water Authority’s net cost for the space it will occupy is considerably less than leasing other vacant space in the region.
• The first floor of the Coulter Building, presently furnished as a bank lobby, will serve as an ideal customer service area for the Water Authority's Utility Billing Office. Minimal renovation is required for the remainder of the office area to be used by the Water Authority.
• The building's location is central to the Water Authority's customer base and field operation groups, and it is also located on a public transportation route.
• The purchase does not require a change in rates.
  

The Water Authority expects to close on the Coulter Building by the end of February. The Water Authority's Utility Billing Office and other administrative functions will likely occupy the building by mid-spring 2005.