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Commission approves purchase of former Citi building space

By Slater Teague,

10 days ago

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JONESBOROUGH, Tenn. (WJHL) — The Washington County Commission approved the purchase of the remaining 75,000 square feet of the former Citi Commerce building in Gray, part of which will be used for the Gray Library.

Commissioners voted 12-1 on Monday night to authorize the $4.5 million purchase from RBM Properties Group.

PREVIOUS: $4.5M to buy Citi building in Gray on county agenda

The purchase will be funded through a $5 million capital outlay note with a 12-year term.

At least 15,000 square feet are expected to be used for the relocated library. The remaining square footage would be used for “other county uses,” according to the resolution authorizing the borrowing.

In January, RBM Properties purchased the 128,000-square-foot building for $6 million before selling about 55,000 square feet to a local accounting firm .

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