Rockford Park District Sells Old Administration Building
On March 18, 2019, Rockford Park District and AC Johnston completed the sale of the park district’s former Administration Building located at 1401 N. Second Street.
William Charles is a holding company of A.C. Johnston (parent company of William Charles)
Triple Bottom Line Impact
Economic: The sale of the property provides the Rockford Park District with budget relief (no future operations/maintenance responsibilities). The economic benefit is two-fold; that being the initial property sale proceeds (approximately $973,000) and the ongoing proceeds from the future property tax assessments.
Environmental: The sale includes provisions for continued shared parking to accommodate overflow parking during RPD events. Thereby, RPD will have no immediate need to increase paved surface area within the park. RPD has the Right of First Refusal (thereby would allow RPD option to acquire property in the future if the need arose).
Social: The community benefits from a prominent company retaining a community presence. The sale also aligns with input from the 2018 citizen engagement sessions; said input suggested Rockford Park District look to decrease its overall community footprint.