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Town of Elberta makes offer on Regions Bank building Posted
By Jessica Vaughn
ELBERTA - The Town of Elberta council voted unanimously to approve Mayor Jim Hamby to make an offer of $250,000 for the Regions Bank building located on the corner of Highway 98 and Main Street. It was recently announced the branch would be closing in May 2021 and the building would be going up for sale.
The town was contacted by the real estate agent to inquire about their interest in purchasing the building for $250,000. The appraisal on the building and land came in at $315,000. Other interested parties have made offers on the location, and if the town’s offer is declined, Hamby says they cannot afford to enter into a bidding war. Plans are to aim for a closing date on or around June 4, shortly after Regions ceases operations within the branch.