The New Kingdom

In December of 1987, Lenoir City Council voted to borrow $250,000.00 to buy the current city hall, formerly the Bank Of Loudon County. Several more thousand dollars were also spent to remodel the building and enclose the drive thru window to create the council room. With a new phone system, signage and remodeling, the city spent approximately $300,000.00 before occupying the facility.  The debt has been paid off for years now.

So Matt wants to sell the old building for $726,000.00. Net profit $426,000.00. Cost to purchas the old Rexall building, $300,000.00. Estimated cost to renovate the old Rexall building, $750,000.00. Estimate could be higher depending on how much asbestos is located through out the building. Due to the square footage of the building, ADA requirements may mandate two elevators. Loudon County just awarded a contract to install a two story elevator in the annex. Cost $175,000.00. Then of course the unsolvable problem, absolutely no parking.

What is it with the mayors and their visions of grandeur? Maybe Brookshire could get Arp to let him in on the marble column deal and Matt could just put him up some columns around his office door, then the city wouldn't have to buy a new city hall.

Click here for property listing of old Rexall building