Scranton Acquires Fidelity Bank Branch for City Hall Expansion
Scranton has officially purchased the Fidelity Bank branch located on North Washington Avenue for $1.85 million, intending to expand City Hall next door. This news was shared by city officials earlier this week.
The Scranton City Council is slated to vote on Tuesday regarding a resolution for the purchase, as proposed by Mayor Paige Gebhard Cognetti’s administration.
Officials are eyeing the three-story structure at 338 North Washington Avenue to serve as an annex for the historic City Hall built in 1888, which is just next door at 340 North Washington Avenue. As per Business Administrator Eileen Cipriani, the city has set aside the necessary funds in its capital budget.
New Opportunities Ahead
In a related move, Fidelity Bank is transforming the Scranton Electric Building at 507 Linden Street into its headquarters, with completion expected by April. This transition will lead to the closure and sale of the North Washington Avenue branch, which will remain operational until then.
The city plans to convert the bank branch into a facility for public services that require frequent community interaction, including permitting and code enforcement. During a recent caucus meeting, both the mayor and Police Chief Thomas Carroll highlighted the need for such a facility, specifically mentioning its role in the police department’s Real-Time Crime Center.
Being situated at street level, this bank branch provides easier access compared to City Hall. Furthermore, it will have 35 parking spaces designated for city employees, making it even more convenient.
“It’s a unique opportunity for us to acquire the Fidelity building,” said Cognetti during the council meeting. “The accessible ground floor will greatly benefit anyone needing assistance with permitting or law enforcement.” She believes that this accessibility could prove invaluable for residents.
According to the mayor, the remodeled City Hall, while beautiful, features wide hallways that limit office space.
“We have the financial capability to proceed with this purchase now, which is essential given our commitment to expanding City Hall. It’s a rare chance that we can’t afford to pass up,” Cognetti added.
Carroll described the Real-Time Crime Center as a key component of a decentralized police facility. This approach will involve relocating administrative offices from the current headquarters to the new annex, while also using the existing location mainly for operations and investigations.
“Improving our space will enhance our operations,” Carroll remarked, referring to the new annex. “This opportunity is incredibly valuable for us.”
The city also plans to apply for $500,000 in state local equity grants to help fund the purchase and implementation of real-time crime technology. This was outlined in a resolution recently passed by the City Council, who voted 4-0 in favor, with one member absent.
The grants aim to bolster public safety through updated technology that enhances situational awareness and emergency response. According to the proposal, funds will go toward equipment like surveillance systems and data management tools, ultimately promoting a safer environment for residents.
Council Approval Required for Purchase
A resolution to allow up to $3 million in debt for the acquisition encountered some obstacles, with council members divided on the issue. This vote resulted in a 2-2 tie.
This resolution would enable the city to secure a loan for the purchase of the bank building. Some members raised concerns about the financial implications. City Council attorney Tom Gilbride mentioned plans for fundraising and indicated that an accompanying bill for the purchase agreement would appear on the City Council agenda in the coming weeks. There were questions about whether the purchase should have been brought forth before discussing debt financing.
However, city administrators clarified that there are no current plans to borrow funds for the annex initiative. Even if the debt resolution doesn’t progress, the city intends to tap into existing capital budget funds for the bank branch acquisition.
According to Cipriani, the city’s financial advisor, while implementing the debt law could be beneficial for future renovations, the bank building is in great condition and nearly ready for use. Interestingly, Fidelity plans to leave its office furniture, which could facilitate a smoother transition.
“We aren’t considering a loan right now since the building is essentially ready for us,” Cipriani noted. “It’s wise financial management to have options available for the future.” The building has a history, having previously housed local newspapers.
