SPARTA, MO — Sparta Mayor Misty Holt told the Christian County Trumpet the city turned down the highest bid on the old bank building it tried to sell at a public auction Saturday morning, August 17, 2024.
“The highest bid was $160,000; the least we can accept is $240,000,” Holt said, looking over the now empty building former Mayor Jenni Davis insisted the city buy with covid relief funds from the federal government.
The city wants to sell it and be done with it. The building costs about $800 per month in utilities and upkeep, according to Mayor Holt.
“We’ll have to make do and figure out what to do,” Holt said. “It would have been better if the city hadn’t bought it in the first place.” CLICK HERE FOR BACKGROUND STORY
Insult to injury
Legacy Bank, which previously occupied the building before the city bought it, added a clause upon the sale that the building could never again house a bank. (Fearful of competition much?)
Wow, the Legacy Bank owners seem paranoid of competition. Are they so bad at running a small town bank they can’t stand the idea of a free market with another bank? The little town has TWO Casey’s gas station/convenience stores, a Dollar General and a recently added Family Dollar/Dollar Tree, so what’s the big deal, Legacy Bank owners?
Holt said another bank was interested in the old bank building, but nope. No can do.
So we wait… and see.
What are your ideas, readers?
How ridiculous that Sparta accepted the no-bank clause! Would they have lost money by selling at the $160,00.00 price the highest bidder offered? I mean, they got the money from the federal government. Need more info! 8^)