WARREN - City Council will vote today on whether to buy the Gibson Building for $2.5 million.
Council last week approved the city selling up to $3 million in bonds to purchase the 258 E. Market St. building. The city is planning to relocate the Community Development, Income Tax and the Health departments from 418 S. Main over concerns about the safety of the building and the cost of its renovation.
The building is owned by Gibson RE Management Ltd. John Gibson Jr. is the manager.
In addition to the purchase of the building, the city will maintain the lease of adjacent parking area to the the building. The city also will be able to retain the lease with the Social Security Administration through 2015.
Councilman Greg Bartholomew, D-4th Ward, said he supports the purchase because it is one of the newer buildings in the downtown area and it is a revenue generator.
"The amount we take in in rent will pay for its mortgage," Bartholomew said.
Councilman James Valesky, D-at large, said he can support the purchase because it is available, it is centrally located, has adequate space, and because of the built-in source of revenue.
"During the council's discussions with the administration, I made the suggestion that the building be surveyed to identify any repair problems that it may have," Valesky said. "I want to know if there is a warranty on the purchase."
Councilman Alford Novak, D-2nd Ward, said the council was presented several other options, including discussion about leasing space in the the CenturyLink Building on Park Avenue, moving into the city-owned Vans building and other possibilities.
Novak said if there are not enough people to vote on the purchase of the building at the special meeting this afternoon, it will be placed on next Wednesday's council agenda.