ROCK SPRINGS — The Rock Springs City Council will again consider a purchase agreement for the First Security Bank Building between the city and Kody Watts during its meeting Tuesday night.
If approved, the agreement will see the city selling the property for $75,000. According to meeting documents, construction on the building must start within 12 months of closing and must be at substantial completion within four years of closing. Plans for the building will see it become retail space and office condos.
Mayor Max Mickelson said the agreement is unchanged from a previous agreement that had been tabled and procedurally killed by the Council earlier this year. He said the city showed the property to other prospective buyers, which Mickelson said showed the city wasn’t just giving downtown property away.
“The city was not giving away a great building,” he said. “It’s removing a great liability from the city’s books.”
Mickelson said the First Security Bank Building will need significant investment to make it usable, which will include installing utilities. Mickelson said both he and Watts are optimistic about renovating the building.
The Rock Springs City Council will meet at 7 p.m. Tuesday at City Hall. The meeting is open to the public and will be streamed on the city’s YouTube channel. An agenda can be found here.
