The Utility Service Board took the first steps Monday night towards making the former Regions Bank satellite office in the Frankfort Plaza the new home for the Utility Billing Office.
“We passed a resolution that actually starts the process on purchase of that building,” said USB Chairman Mike Kelley. “We also signed a purchase agreement for that building. Given there’s some conditions that we need to make sure happens like making sure the survey shows egress and ingress ability for us.”
Kelley admitted there is still some work to do before the Utility Billing Office moves to its new headquarters.
“It takes a combination of work on the Utility Service Board and our attorney and the city and its attorney because in the end the property will belong to the City of Frankfort,” said Kelley. “We need to make sure to get everything done.”
Kelley said the purchase price was the average of the two appraisals done on the property which was $175,000.
Kelley added everybody is aware that there will be some added costs.
“There will be some additional expenses for some of the title work and all those kinds of things when you buy a property,” said Kelley. “We will be funding that our of our own monies. So we are not going to be borrowing any money to make that purchase.”
The closing date will be on or before November 30.