“We could close on the building as early as mid-November,” said City Attorney John Rea, who presented the council with a lengthy purchase and sale agreement for the CenturyLink building and the current library.
Under the agreement, CenturyLink will sell its building to the city for $1.29 million and the city will sell the current library building to the company for $290,000, which would cut the cost for the CenturyLink building down to $1 million.
City Manager Patrick Draper said funds from grants and the Pell City Library Guild will pay for needed renovations to the CenturyLink building.
He said the lock-and-key total price for the facility, including all renovations, is $1,872,290.
“We’re getting close,” said Council President James McGowan.
The contract for the sale and purchase of the CenturyLink building is about 100 pages, Rea said.
“There are still some things that have to be corrected (in the contract),” he said. “…There are some minor changes.”
In accordance with the contract, the city will provide a space in the basement of the CenturyLink building for the company’s equipment, currently housed there.
“They say to move the equipment out would cost more than the building itself,” Rea said.
The city will provide the company access to the 360 square-feet basement space and provide power, heating and air to the basement area. Although the company will pay for the electrical cost to run their equipment housed in the basement.
Dot Wood said the CenturyLink should pay for a survey of the CenturyLink property, and the city should pay for the survey of the library property.
Under the contract, the city will provide CenturyLink with 25 parking spaces on existing or adjoining property to the current public library, next to city hall.
Draper said the Police Department could move into the CenturyLink building, which will allow parking spaces to CenturyLink behind city hall and save the city another $200,000.
The city is also required to honor the Pell City Board of Education lease, which is valid until the end of March 2014.
The St. Clair County Commission approved to sale the former Department of Human Resources building off of Dr. John Haynes Drive to the Pell City Board of Education for $125,000, and the BOE central office will move into that facility.
According to city officials, the CenturyLink building, a 53,000-square-feet facility, was constructed in 1989.
The council considered buying the facility in 2011, but decided the city could not afford to purchase the building at that time.
In 2011, former Mayor Bill Hereford said the CenturyLink building was appraised for $4.5 million.
According to city documents, the biggest renovation costs to the CenturyLink building are new heating and air units, about $300,000 and the replacement of the roof, estimated at $160,000.
He said the city is borrowing $1.23 million through a bond issue to buy the facility and to help pay for renovations. The city has more than $400,000 in grant funds to go towards the renovation of the new library and another $250,000 that the Pell City Library Guild has committed towards the purchase of the CenturyLink building.
The library will occupy space on the main level of the building.
Contact David Atchison at email@example.com