BAKERSFIELD, Calif. (KERO) — The City of Bakersfield is considering purchasing two well-known buildings, the Buck Owens’ Crystal Palace and the Bank of America office Towers. However, there’s a question as to whether these purchases could even feasible.
- During a closed session meeting Thursday, council members and city staff weighed their options for purchasing the two classic sites.
- City Manager Christian Clegg said following the meeting they're still very early in the process.
The City of Bakersfield is considering purchasing two well-known buildings, the Buck Owens’ Crystal Palace and the Bank of America office Towers. However, there’s a question as to whether these purchases could even feasible.
During a closed session meeting Thursday, council members and city staff weighed their options for purchasing the two classic sites. City Manager Christian Clegg said following the meeting they're still very early in the process.
“What we did talk about today was, does it make sense to take a look at and go and do the homework about these properties?” Clegg said.
In fact, putting this item on the agenda was required simply to even discuss if they should explore their options further.
“I think it's a little too early to say,” said Clegg. “Again, like I mentioned, I wouldn't be recommending that as our highest priority in the overall city budget. But if we can find some creative ways to look at revenues that aren't gonna impact public safety and homelessness, then it starts to make a lot more sense.”
Clegg said the city's budget for the fiscal year is around $840 million across all funding types with a general fund in the range of $380 million.
The Crystal Palace is listed for just under $7.5 million, while the Bank of America Office Tower is expected to cost around $15 million.
Clegg said the city will continue to focus on its highest priorities, such as public safety and homelessness, and if they move forward in a potential purchase They'll explore options outside of the general fund.
“We actually have earmarks that we look at. We also have our transient occupancy tax, which is a tourism tax that is for tourism activities that go back into tourism.”
No decision was made Thursday regarding either of these purchases.
Clegg said the city will be returning in about a month to discuss their mid-year budget.
Stay in Touch with Us Anytime, Anywhere:
