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King City is purchasing Purkey Building

City seizes opportunity after owner closes tax-service/accounting business.

BARBARA SHERMAN - Only a small parking lot separates the Purkey Tax Service building (right) from King City City Hall, and the addition will provide the city with space for decades to come.King City's City Hall is expanding: The city is in the process of buying the Purkey Tax Service building next door.

City Manager Mike Weston told the City Council at its Aug. 3 meeting that he had negotiated a purchase offer with Diane Purkey for a price of $1.4 million.

The city is making a down payment of $450,000 out of its contingency fund, with Purkey holding a note for $950,000 that will be paid off at 5 percent interest over 10 years.

The purchase price includes the following personal property: chairs, desks, file cabinets, computers, conference tables “and any other business equipment in the property” as of July 8.

An inspection took place the day after the council meeting, with the closing expected to take place in October.

According to the contract, interest will bring the total cost to the city for the purchase up to about $1.59 million.

REGAL COURIER FILE PHOTO - Diane Purkey stands on the stairs inside the Purkey Tax Service building when she was interviewed in March 2014 about starting to sell antiques and collectibles she and her late husband had collected.King City councilors said previously that the Purkey building going on the market was a once-in-a-lifetime opportunity for the city to purchase property adjacent to City Hall. There is only a small parking lot in between the two buildings.

King City is working to expand its urban growth boundary west towards Southwest Roy Rogers Road, and with future growth will come the need for more city employees and a bigger police department, which will require more City Hall space.

While any decisions about the use of the Purkey building have yet to be made, one option includes moving all City Hall offices into the two-story Purkey building and leasing out the old facility. The Purkey building is larger than the current City Hall, so city offices could move into it and still have extra space to lease.

Purkey's Tax Service, which closed June 30, was one of the oldest businesses in King City. It was started by licensed tax consultant Denny Purkey in the late 1970s. He met his future wife Diane, also a licensed tax consultant, which she began working for him, and they got married several years later.

Denny Purkey passed away in January 2010, and Diane Purkey continued running the business until closing it earlier this year.

The Purkey building is located at 15350 S.W. 116th Ave.