Friday, October 18, 2002
The building's fair market value is substantially higher than the offers the village received.
LEETONIA -- The fate of the former Sky Bank building here remains uncertain.
Village Administrator Gary Phillips said council will consider sale of the building at its Nov. 6 meeting.
Council opened bids for the building this week with bids from residents Mike Lucek and Ron Stouffer. Phillips said both want to locate businesses there.
Bids were $11,000 by Lucek and $10,666 by Stouffer.
Phillips said the fair market value of the building has been estimated at $65,000 to $75,000.
He said council must weigh the options of accepting a low bid or waiting to see if someone else will pay a higher price for the building.
The two-story brick structure at 243 Main St. has a full basement and an ample parking lot, he said.
Port authority
Phillips said council has discussed working with the Columbiana County Port Authority to find businesses interested in the building.
The port authority could sell the building to people who make offers, similar to the way real estate agents work, Phillips said. The village, however, is required by law to take bids for the sale.
Phillips said since the building is downtown, he would prefer to see someone buy it to operate a working business rather than use it as a warehouse or some other type of storage facility.
Sky Bank officials sold the building to the village for $1 in 2001 after closing the company's branch office there.
Village officials had hoped to use the building as a community center or move some village hall offices there, ideas which proved to be cost prohibitive, Phillips added.