The Jefferson City Council recently approved to purchase another downtown area building.

The City acquired the property at 107 North Chestnut, where Air Temp and Elite Tumbling are located, for $6,600 using tax increment financing (TIF).  The Council also approved an economic development agreement for 106 East State Street, where ShineOn Designs/More Time is located, of up to $35,000 to replace a roof. The City would also use TIF funds for the roof repairs, and Mayor Pro Tem Harry Ahrenholtz says the money would come from the City’s “second phase” funds of the downtown facade account.

Ahrenholtz says the City’s investment of taking ownership of a fourth downtown building to renovate and get it back on the market, shows the long-term commitment of keeping the downtown area vibrant.

“It’s tough to bring someone in who is looking to occupy a building and when they look at it, it’s $150,000 to get it to the point where they can even get their merchandise on the floor. So it makes sense for the City, it makes sense for the taxpayers, makes sense for the community long-term, and for these next two generations that we hope would like to make Jefferson a home quite frankly.”

The City can use up to $150,000 in TIF to make improvements to the newly acquired property. Ahrenholtz says plans are to keep Elite Tumbling in the 107 North Chestnut building, while renovating the Air Temp portion and have it available for another business to own.