Palestine to purchase former bank building
EAST PALESTINE – The village could have a new home for its administrative offices in the near future.
On Monday City Council approved a first reading of legislation to the purchase the former PNC Bank property located at 85 N. Market St.
According to the legislation, the village has a contract out for the property in the amount of $155,000, with “funding to be determined.”
Council also approved a first reading of legislation to sell the current administrative building located at 144 N. Market St.
Finance Director Traci Thompson said the last loan payment for the current building is due January of 2014. She did not have the pay-off amount readily available after the meeting.
The village purchased the small brick building five years ago.
She and Village Manager Pete Monteleone said they intend to put the money from the sale of the current building toward the new building.
The two have not offered specifics on how the building would be financed should the sale of the current building not cover the entire cost.
The PNC property became available in April after the main branch decided it would be better to consolidate it with the branch in Columbiana.
Councilman Alan Cohen noted the property does not include the drive-through, although the lot next to it on the north side is included.
Three more readings of the legislation by council are needed before the purchase and sale can be finalized. Monteleone said PNC is willing to hold the contract until August, which is after the third reading would be presented.
In other business, council approved:
– Emergency resolutions excluding the approval of Salem for local government fund monies, and approving the alternative method of local government fund money distribution.
– A first reading of legislation accepting the amounts and rates for 2014.
Monteleone announced during the meeting Ohio Edison is replacing the two light poles that were taken down earlier this year in town. The company has also agreed to repaint the existing light poles along North Main Street. The poles will be painted brown.
Mayor Margo Zuch said people should not post anything to the poles, that it is in fact against the law.