Residents Share Opinions on Delaware County’s Sale of Old Bank Building

The Delaware County Board of Supervisors held a public hearing on the proposed sale of the old bank building on Monday.

The County had purchased the former Community Savings Bank building on East Main Street four years ago, with the intent to move the Delaware County Treasurer’s Office and Auditor’s Office there, as well as the county’s voting equipment – the goal was to give the County more room and to make those offices more accessible to the public by moving them to a ground level.

But the State Fire Marshal’s unexpected requirement to install a sprinkler system in the bank basement was more costly than the County could afford, so two years ago, they decided to put the building up for sale.

The County purchased the bank building from CSB for $599,999, just under the $600,000 threshold that would have required a public vote. At the time of the sale in 2019, the building was assessed for $800,000 – but a new recent assessment put the value at $540,000. The County has held two rounds of bid openings for the building since last year, with two offers made on the property. The first offer last year for $275,001 from Matthew Schulte and Mitch Peyton was rejected by the County Board of Supervisors, but a second offer came in a few weeks ago for $401,000 from Milestones Group, a CPA firm currently located along West Main in Manchester. 

But before the sale became official, a public hearing needed to be held – with three Delaware County residents sharing their thoughts during Monday’s meeting. 

A fourth Delaware County resident noted that if the State Fire Marshal had changed the requirements for the property, the blame should lie with the State of Iowa and their lack of accountability for state employees. Two of the county residents who commented earlier agreed the blame isn’t just on the County alone. 

County Supervisor Jeff Madlom says the Board is disappointed with how everything turned out, but he says their intention was good.

The sale of the building was officially approved after Monday’s public hearing.

photo courtesy of Janelle Tucker/KMCH