By Scott Nishimura snishimura@bizpress.net
The city of Fort Worth is considering buying an office building at 900 Monroe downtown that it already leases a substantial piece of.
The City Council Tuesday night is scheduled to authorize $3 million to buy the building and site, and up to $470,000 for repairs.
“The elevator doesn’t go to the top floor currently, so it’s not used,” Jay Chapa, the city’s housing and economic development director, told Council members during their pre-council meeting Tuesday.
Acquiring the building would allow the city virtually full control of the block, Chapa noted.
The building has non-city tenants, almost all of which are on month-to-month leases, Chapa said.
“Staff intends to work with the current lessors to get them on city leases, but, ultimately, the goal is to have the building be 100 city occupied,” Chapa said.
The money would come from capital projects funds. The building was built in 1943.