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With the recent announcement of the possible sale of two downtown city-owned buildings, the City of Jefferson will still have two buildings under its ownership.

City Administrator Mike Palmer says following two public hearings to sell the former Angie’s Tea Garden at 100 East State Street and the former Pizza Ranch at 206 North Wilson Avenue, the City will continue to own the Heartland Bank and Gravitate building at 200 East State Street and the former AirTemp building at 105-107 North Chestnut Street. Palmer notes that 200 East State Street building is under contract with the developer to take ownership if they can be awarded tax credits for an upper story living project. 

Palmer points out work has not started on the former AirTemp building because the City Council recently approved authorizing urban renewal bonds.

“It’s going to be another $250,000-$300,000 just to get the front, a new roof, and all of the structure put back together on it. Those buildings are expensive, they’re very expensive, but we’re finding already that we’ve got people already interested in purchasing them even before we get started. So that’s a nice problem to have.”

The Council authorized to issue $1.7 million of the urban renewal bonds, which Palmer says will be reimbursed through tax increment financing.