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Commission votes to move Bank of America building purchase into permitting with amended terms
Summary
After a presentation and extensive debate, commissioners voted to advance a planned purchase and renovation of the former Bank of America building downtown into the permitting and design phase, lowering the purchase price to $8 million and increasing nonrefundable (but creditable) earnest-money deposits for the permitting period and extensions.
The Rutherford County Property Management Committee voted to amend its pending purchase contract for the former Bank of America (BOA) building downtown and advance to a permitting and design phase after a detailed presentation by Klein Sweeney Associates.
Bart Klein outlined site and building assessments — ALTA survey, roof inspections, lead-based paint and asbestos studies, a Phase I environmental report and a building assessment — and said the 29,083-square-foot structure could meet the county’s program needs with renovation. He presented a cost-comparison that estimated new…
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