UPDATE: Council to Vote on Buying Bank for $200,000

By GEORGE SOUTHERN
Cape Charles Wave

July 19, 2012

Cape Charles Town Council will meet in open session Thursday at 5 p.m. to vote on buying the Bank of America building on Mason Avenue for approximately $200,000.

According to a Town staff recommendation prepared by Assistant Town Manager Bob Panek, the Town needs the bank property for five reasons:

1. Expansion of the Cape Charles Memorial Library;
2. Relocation of the broadband computer lab to a more publicly accessible space;
3. Indoor cultural and educational programs for children and adults;
4. Relocation of records storage from leased space;
5. Public parking for the business district.

Panek said the Town could use funds obtained from a 2010 bond issuance that were intended to finance two new wells, which are still being engineered. This would allow the Town to spend the money without increasing the budget. “This would temporarily displace the project to connect the two new wells,” Panek said.

If Town Council approves the purchase tomorrow (as it is expected to do), a contract could be signed by the mayor without any public input.

The Town would be required to pay a non-refundable $20,000 deposit within 48 hours of signing the contract.

The agenda for Thursday’s special meeting does not provide for remarks from the public.