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Commission approves purchase of former U.S. Bank building for courthouse expansion
Summary
St. Francois County commissioners approved purchase of a U.S. Bank property to create courtroom, chambers and sheriff administration space; commissioners said the purchase will be funded with marijuana tax revenue and general stabilization funds and will generate rental income under a lease with the bank.
St. Francois County commissioners voted to purchase two buildings formerly owned by U.S. Bank to gain space for courts and sheriff operations and to provide near-term rental income.
Harold, speaking for county leadership, described the property as about 1.33 acres with two buildings and 42 parking spaces located across Washington Street from the county annex. He said the county is “under contract to purchase the U.S. Bank building and a drive-through facility” and gave a purchase price on the record of $1,515,000.
The county expects bank rental income of about $69,000 per year, with a 22% annual escalator in the bank’s rental charge as described by Harold in the meeting. Under the plan related in public remarks, the bank would rent roughly half of the first floor plus…
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