Martin inks deal on new city hall location

Martin inks deal on new city hall location
The City of Martin has sealed the deal on its new city hall location with the signing of the deed Friday afternoon. With the $1.5 million purchase of the First State Bank building off of University Street, Martin Mayor Randy Brundige said the building will be a long-term asset to the city. “I think this is something the city of Martin and its citizens can be proud of. This will provide a professional-looking building to do business out of and be appealing to newcomers of this area,” Brundige said. During recent board meetings, Martin aldermen opted to accept a three-year bond fund that has the city paying interest only on the note for the duration of the bond. First State Bank will lease the building from the city until it has an opportunity to relocate its banking offices. Throughout the 25-month term lease, First State Bank will apparently pay the interest on the bond fund; property taxes; insurance and normal repairs on the building until it relocates. “Our goal was to not be out any money until we physically moved into the First State Bank building,” Martin City Recorder Chris Mathis explained. Mathis added the city would be out nothing “net-wise” throughout the terms of the lease with the bank. First State Bank joined the City of Martin Friday afternoon in acquiring new property when they signed paperwork for the purchase of the Central Baptist Church across the street from the bank. Central Baptist Church plans to move to its new location on Highway 431 once construction is complete. Brundige said the cramped conditions of the current city hall location would open up an opportunity for the Martin Police Department to expand its operations once city hall relocates to its new building on University Street.

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