Where does the Fauntleroy Community Service Agency‘s plan to buy the Fauntleroy Schoolhouse stand now, and where is it going? That’s the gist of what was discussed during last night’s joint meeting of FCSA and Fauntleroy Community Association leaders. The meeting was facilitated by John Howell of the Cedar River Group, which has been working with FCSA on the building acquisition over the past year. The most recent development reported here has been a lawsuit against Seattle Public Schools seeking to stop the schoolhouse-site sale, and that was a big part of last night’s discussion – read on for more:

Though a summary judgment ruling went against the group that is challenging the sale – as it has challenged most if not all of the Seattle Public Schools property sales – they have the right to appeal, and there currently seems to be no fixed timeline for that appeal.

FCSA remains concerned that the appeal could push the closing back, maybe far enough to jeopardize some of the funding lined up to cover the price tag. Right now, FCSA “feels good” that the money’s in hand and things can move forward.

Part of that money is $1 million from the city, which asked for a checklist of questions to ensure the money would help the building stay open for 15 years. Those questions included a list of what work has to be done, how the building will be managed, and whether there’s a plan in place for a capital campaign.

Some of that has been addressed with FCSA’s 5-year pro-forma operating plan. The plan looks at changes to the operating expenses once the building belongs to the FCSA, and how the revenue would change. The FCSA will also have to find a board to deal with this and implementation of a capital campaign.

So what would the scope of that campaign be? Right now, FCSA sees it as a campaign to raise money just to keep the building in operational order – major areas of need include the roof, wiring, and seismic safety. Some Fauntleroy Community Association participants, however, thought a capital campaign might be difficult if some of the money isn’t targeted for buying at least part of the schoolhouse property that is not currently part of the deal; there’s long been neighborhood concern about the possibility of the land behind the schoolhouse being turned into residential development.

As FCA president Bruce Butterfield put it, his group wants to see FCSA succeed at this, and preserve a community landmark. So FCA also discussed ways in which it could support FCSA in the purchase and successful management of the schoolhouse – including getting the word out about FCSA needs via the FCA newsletter and website, and possibly collaborating with FCSA on good candidates for a property-management committee.

FCA’s Vlad Oustimovitch noted that an important idea to convey is that the school, the church and the YMCA (WSB sponsor) are the Fauntleroy neighborhood’s campus – the central place that gives the neighborhood its identity, All agreed that promoting that idea would assist with public buy-in for capital campaigns.

So how much money is needed? Besides the purchase price – the building needs about $8 million in work. Of that, $2 million is said to be urgently needed work, particularly the roof; $2.5 million for work within the first two years of ownership ; and the balance for work from 3 to 5 years after closing.

But first – the $1.8 million deal has to close. We’ll keep you posted.