Bank Hands Over Keys to the City
The City of Lexington signed closing papers with Prosperity Bank last Friday afternoon on the old bank building located on the Square in downtown Lexington. The bank building will be used as the new City Hall.
City Council member Tony Tavary, who serves on the new City Hall Committee, said, "We are very happy to finally have closed on the bank building. It is in really good shape and preparation for the City to move into it shouldn't take very long."
Tavary continued, "The City will be moving into the building following some alterations sometime in November."
Tavary said there will be some minor asbestos abatement to be done in an area that will require some ADA remodeling. Other than that, he expects some touch up work is all that will remain.
As early as this week, the city hopes to have nailed down a contractor to take care of the abatement. Four companies have already submitted bids and the City hopes to choose one within a few days. Tavary said the City will not need to go out for bids as these alterations are expected to cost less than $50,000.
The City purchased the old bank building for $112,500 and, when the City was investigating building a new building, it was estimated to cost the City about $300,000 plus additional costs for a specialized foundation to build a new building.
During the last few days, City workers have been power washing the outside of the building and removing the old State Bank signs off the façade of the building. The City will be erecting new signs soon identifying the building as the Lexington City Hall and work will begin on the interior within a matter of days.
The bank building will be an asset to the City, providing an attractive and efficient building in which City business can be conducted.