The Decatur City Council voted today to purchase the 112-year-old L&N Railroad Depot off Vine Street Northwest for $175,000, about $45,000 more than its appraised value.
Council president Gary Hammon said the purchase needed to be made quickly because a $720,000 Alabama Department of Transportation grant for the depot’s restoration hinged on the city owning the depot by Jan. 1.
Councilman Billy Jackson voted against the purchase because the price was higher than the appraised value. Hammon said the cost is justified because of the depot’s “inherent value,” meaning its historical significance.
The city is buying the building from Wally Inscho. Inscho originally priced the depot at $180,000.
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