Tryon is considering leasing its railroad depot building for $1 per year in exchange for $250,000 worth of renovations.
Town council approved an intent to lease the building Tuesday following a closed session on the matter. The town is now advertising for upset bids for a period of ten days prior to officially approving the lease.
The lease being considered is with Andy Millard, with Main Street Financial, who plans to split off from the partnership to an independent entity.
Millard plans to renovate the building to its original 1906 appearance in exchange for the 20-year lease.
Renovation plans include a couple of offices, a reception area and keeping the large room that once served as the train stations warehouse to use as an assembly/seminar room that will be available for the public and for town festivals and special events.
The lease states that the town has been considering uses for the depot with the intention to find a use which promotes economic development, improves the visual presentation of the depot and makes the depot more of a gathering place for town residents and visitors. The proposed lease, “will greatly benefit the economic vitality of the community,” the proposed lease states.
The depot once housed the Polk County Historical Association Museum and the Tryon Riding and Hunt Club office. Both of those organizations have moved out of the depot in recent years and the building currently is vacant.
Tryon Town Council is seeking upset bids by May 6 that would raise the current offer to an amount no less than to $262,250.
If no upset bids are received, the town will consider the lease with Millard during its May meeting. According to the proposed lease, Millard will have to have the renovations completed on or before April 30, 2012.