Fayette County, WV (WOAY) – After four years and $350,000 in lost money, the city of Oak Hill has successfully sold the former BB&T bank building on Main Street.
The announcement was made at Oak Hill’s council meeting last night.
The building had been purchased by an almost entirely different city council in 2022 for six hundred seventy thousand dollars following a divisive four-to-three vote.
The plan at the time was to transform it into a brand new city hall. However, the building needed extensive renovations that the city ultimately couldn’t pursue.
Only one member, Diana Janney, remains on the council. She voted no on the purchase in 2022.
Alan Greenstein purchased the building. The council did not say what his plans are.
The city has been paying twelve thousand dollars a month against the debt caused by purchasing the building. The city planned to use an extra one-cent sales tax to fund the payments.
The city has been trying to repurpose or sell the building since 2023, but was unable to find a buyer to cover what the council paid.
Councilor at large Bill Hannabas said the city purchased the building for two hundred thousand dollars more than it was worth at the time.
