County eyes downtown Regions building
At Monday evening’s Dallas County Commission meeting, Dallas County Attorney John Kelly discussed with the four commissioners and Commission Chairman and Probate Judge Jimmy Nunn the potential purchase of the Regions Bank Building at 101 Church St.
The Commission authorized Nunn to negotiate with the owners of the building, New Century Investments.
Kelly told the commission that negotiations have been completed and that the county has now entered a contract to purchase the building with a closing date of January 1, 2021.
Kelly said the contract is currently in a due diligence period, allowing 30 days for the building to be inspected by the commission and engineers so officials can confirm that it is indeed fit for purchase.
If anything is found to be unfit during the due diligence period the county is under no obligation to purchase it.
“If everything is the way that it should be and the way you like it, the contract will be finalized,” said Kelly.
The January 1 close date is to allow Regions time to vacate the premises as they move to their new location on Highland Avenue.
Kelly said the offer made to purchase the building is, for now, confidential.
Nunn commended Kelly for his negotiations regarding the purchase of the building.
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