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Wapello County approves purchase agreement for former U.S. Bank building at 123 E. Third St.
Summary
After a public hearing, the board approved Resolution 26Dash2025 to acquire the former U.S. Bank building at 123 East Third Street for $250,000 with a 30-day due-diligence option and a $20,000 option fee.
Wapello County supervisors approved a resolution authorizing the purchase of real property at 123 East Third Street, the former U.S. Bank building in Ottumwa, following a short public hearing.
The agreement approved as Resolution 26Dash2025 includes a 30-day due-diligence period, a $20,000 option fee that will apply to the purchase price and is refundable if the county elects not to proceed within the due-diligence period, and a stated purchase price of $250,000. County staff said the purchase would let the county consolidate services currently spread across four buildings into two and would allow the county to sell one or two other properties with portions of the proceeds offsetting relocation and acquisition costs.
The public hearing produced one verbal comment in support of the acquisition. A resident who spoke during the hearing said the county would face similar costs keeping the existing buildings and that the consolidation would "move us forward and ... be a good win for the community overall." The board closed the hearing and approved the resolution by voice vote.
County counsel noted the agreement is subject to delivery of a clear title and an abstract-of-title examination by the county attorney. The county also has an option to inspect the property during the 30-day due-diligence window.
Ending
With the vote, the board authorized staff to proceed with closing steps subject to due diligence and title review; county officials said any proceeds from later sales of other county buildings could be used to offset acquisition and relocation costs.
