CITY PURCHASE OF FORMER BANK BUILDING LOOKS GOOD

Unless a thorough inspection turns up major problems, a city purchase of the former Boatmen's Bank building at Broadway and North Main would be a sensible decision.

The building, now owned by NationsBank as a result of a recent merger with Boatmen's, is on prime downtown property. Built in 1956, it appears structurally sound. It has served the banking needs of downtown since it opened and through this month when NationsBank closed it.

The Cape Girardeau Convention and Visitors Bureau is in need of a home, and the building would serve it well. The bureau likes the idea of a downtown location because so many visitors to Cape Girardeau end up downtown to see the Mississippi River and historic attractions. River steamboats packed with hundreds of tourists stop frequently at Cape Girardeau, and the bureau is always on hand to greet them. The fact the building is so close to the river would be perfect for the bureau and tourists alike, giving them a nearby place to go to get maps and information about Cape Girardeau.

The city also is interested in acquiring the building to set up certain city services and use the bank vaults for storing records. The building has drive-up windows, and the city envisions them being used for convenient payment for city services.

As part of the deal, NationsBank has discussed putting an automatic teller machine in the building. It would pay the city for the privilege and would provide an ATM service downtown, which has no ATMs.

The bank building has a large parking lot, and it would offer all kinds of possibilities for use. Mentioned was parking for tour buses, which is limited downtown.

The price being discussed is $150,000, which seems fair considering the location and the fact the Convention and Visitors Bureau is in need of a building. The bureau has about $250,000 in a building fund for a new headquarters that could go toward the purchase and any necessary renovation of the building. The city is considering paying a portion of the cost because it too would be using the building.20To construct a building the size of the bank building in such an ideal location would cost much more than $150,000.

The city of Jackson recently completed a move from its cramped city hall to a large bank building it acquired on the square in Jackson. Cape Girardeau bought the old Lorimier School on Independence a few years ago and converted it into a city hall. Both buildings are serving well.

Lacking any major problems with the bank building, it too would be an excellent investment for Cape Girardeau.