The City of Jefferson is looking to wrap up its ownership of the remaining downtown buildings soon.

The City Council agreed at their most recent meeting to proceed with plans for renovations to the former AirTemp building at 105 and 107 North Chestnut Street. The City acquired that building in 2019 for $6,600. City Administrator Mike Palmer says plans to improve the building include replacing the roof, removing the vinyl siding and restoring the exterior with brick, and turning the interior into a blank space. 

Palmer talks about the price tag for the renovations, as well as the financing aspect.

“Originally we put in for $275,000. But that money was part of a bond issue that we did this year, it was included for the downtown buildings. The money is secure and it’s there. Those bonds are paid off through TIF (tax increment financing) reimbursement.”

Palmer points out there’s interest already in the building, even before the renovations began. The other building the City is finishing is the former Pizza Ranch building, which The Stitch is anticipated to move into later this year. Palmer comments on what it will be like for the City to offload the final two properties.

“It’ll be different. The City’s owned buildings for quite some time, but it’s been very successful. The City Council took quite a gamble doing this, I know, but like one of our Council members said, ‘It’ll be really nice to kind of get out of this building business.’”

Palmer adds once the renovations to the former AirTemp building are complete, the building will be appraised and that amount will go against the $150,000 economic development agreement with a purchaser.