The Pitch Blog is reporting that the Cosby Hotel is going to be saved from demolition.
A couple of weeks ago, the city had planned to simply demolish the building at a cost of $115,000 - -but after public outcry, the city reconsidered.
Now the city has decided to spend just $4,000 to stabilize the building instead of the $115,000 to destroy it (the bill in either case would have been sent to building owner Rick Powell).
I can only ask, why was this not the city's first option to spend only 3% of the money and actually SAVE the building?
It also looks like developer Adam Jones may still be buying the building -- and the price has dropped from an unreasonable $500,000 to $150,000.
Good news for the city, for history buffs and for downtown -- and even for the taxpayers who could have been out the cash if Powell didn't pay his bill.