The Warwick Foundation announced late Monday that it had raised the last of the money needed to save the old Peoples Bank from demolition.
Monday was the extended deadline granted by Langley Properties, the 1960s-era building's owner.
The community pitched in to raise $250,000 in matching funds to preserve the building, designed by Lexington architect Charles Bayless. The Midway-based Crutcher Family Foundation provided the final donation needed in the form of a $10,000 grant, and the Blue Grass Trust for Historic Preservation negotiated a $50,000 historic preservation mitigation fee from Bayer Properties, the Warwick Foundation said in a news release.
"The public match releases $300,000 in funds committed by the Warwick Foundation. The Urban County Government has budgeted $150,000 in additional funding for relocation expenses. Langley Properties is donating the building to the Warwick Foundation. The Lexington Center Corp. has designated a receiver site on West High Street and is in the process of preparing a nominal cost ground lease for the property," according to the release.
The Warwick Foundation plans to turn the building into the Peoples Portal, a community center with "programming centered on the themes of respect and inclusion."