The working plan, according to Powell, will be a potential 10-year lease with an option to buy.
Due to the city’s financial squeeze, county officials didn’t want to add a significant burden to their budget.
In addition, Bryan Davis reiterated that all maintenance responsibilities of the building will fall on the city while it occupies the building.
The 5th 3rd Bank is still residing in the building while operations are being moved to the former Jimmy John’s on the corner of 12th and Gay Street.
They reminded citizens that a private company could acquire the old Marting’s building. They said non-disclosure agreements prevented them from revealing more information about that potential acquisition.
Finally, Davis mentioned that a bank, that has never done business in Portsmouth, has shown interest in the now vacant Citizens Bank location.
Portsmouth city council will meet on Monday. We have not yet received the agenda. A discussion about the 5th 3rd Bank property seems inevitable.
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