It has now been 6 months since the Bank of Kentucky purchased the Nevada building (see this past post for background) and it continues to sit empty. I am reminded of some of the discussion about the purchase at the time including:
- The Bank of Kentucky could sell the building for more than the $240K they paid at auction
- They would do needed repairs to the building
Neither of which appear to have materialized. In fact the building has arguably lost value as the broader economy and more specifically real estate has continued to experience price declines and a shrinking market. While I am not privy to any plans the bank may have, I believe that for the good of the community the bank needs to cut their losses and sell to an interested developer willing to invest in the Midway.