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County Opts on Buying Instead of Leasing New Office Quarters for Clerk of the Court

TAVARES, FL-The one-story, 35-year-old, 13,520-sf First Union Bank building is going for $850,000 or $62.87 per sf. That's still less than building a comparable new structure to house 30 employees for $1.35 million ($100 per sf), or leasing for five years at $1.01 million at an estimated $15 per sf, county auditors feel. Tavares, Lake County's county seat, is 38 miles northwest of Downtown Orlando.

By Alex Finkelstein | Updated on January 10, 2001

TAVARES, FL-When it comes to numbers, Lake County’s administrators have sharp pencils. They are buying instead of leasing the one-story, 35-year-old, 13,520-sf First Union Bank building in this city’s Downtown. The price is $850,000 or $62.87 per sf. The space is for the county’s cramped 150-person Clerk of the Court’s staff. Tavares, the county seat, is 38 miles northwest of Downtown Orlando.

Some council members deride the deal because it takes the bank’s building off the tax rolls, losing revenue for the county. Others, however, argue the estimated $1 million the county plans to spend on renovating the building will generate new Downtown business to aid the city’s current redevelopment program.

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