Archive for Monday, October 10, 2005

Bank to locate in city

October 10, 2005, 10:29 a.m.

Updated: 10:29 a.m.

A new bank is coming to town.

Lansing City Council, in a 5-3 vote Thursday, directed Mayor Kenneth Bernard to complete negotiations for the sale of city-owned land at West Mary and Main streets to First National Bank of Leavenworth.

The bank will pay $550,000 for the land, which the city purchased several years ago for $160,000, said City Administrator Mike Smith.

For three years, the city has been marketing the site, trying to lure a restaurant or retailer. Those council members voting against the sale - Andi Pawlowski, Billy Blackwell and Dee Hininger - voiced support for city efforts to stay the course in luring a business to the site that would produce sales-tax revenue for the city.

Council member Robert Ulin, who voted in favor of the sale, reminded his colleagues of the city's failure to land a restaurant or retailer. He punctuated his statement with the reminder, "A bird in the hand is worth two in the bush."

First National officials want to build a 14,000-square-foot, two-story full-service bank. The cost is estimated at $2 million.

For more on the bank plans, see Thursday's Current.

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