Council to eye details of deal
By Matt Caulder
Published in News on July 6, 2014 1:50 AM
This empty lot will soon be the site of the newest branch of The Little Bank. It is the former location of the Arts Council of Wayne County.
The Goldsboro City Council will meet Monday night to discuss a number of planning issues in the city, including the new proposed location for The Little Bank at the corner of Ash Street and Spence Avenue.
The bank entered into a contract to buy the lot from the city for $700,000 last October, but wasn't prepared to finish the purchase until the plans for the site were submitted to the council for review.
The council agreed to sell land where the building housing the Arts Council of Wayne County once stood to The Little Bank for $700,000 after advertising the land for sale.
The city bought the property for $500,000 in July 2011 to allow the Arts Council to move to its current location on John Street.
Council members had planned on converting the building into an Air Force museum, but the project was eventually found to be too expensive and the property was put up for sale in February.
After spending about $435,000 on museum feasibility studies, upkeep and finally demolition of the building, the city sold the property at a loss of about $235,000.
The bank was granted an extension in April on the contract to get its plans in order before making the final purchase.
The bank paid the city $35,000 in October as part of the sale and will pay the remaining $665,000 when the sale closes.
It is unclear if the bank intends to leave its Center Street location.
The plans submitted for the bank show a 4,500-square-foot building with two drive-through windows.
The Planning Commission has recommended approval of the plans.
In other business, the council is also expected to approve the purchase of a new street sweeper the city leased at the close of the fiscal year in June.
The city leased the sweeper for one month, with 80 percent of the lease price going toward purchasing the sweeper in the 2014-15 fiscal year.
The city paid nearly $10,000 for the June lease payment and will pay the remainder of the $204,000 over the course of the next 18 months.
The city looked at purchasing a new sweeper after the two current sweepers were down nearly 70 percent of the time.
The council work session will begin in the large conference room in the City Hall Annex at 6 p.m. Monday with the regular session beginning at 7 p.m. in the council chambers of City Hall.