The Warwick Foundation board voted Monday to give $300,000 toward the $850,000 cost associated with moving the former Peoples Bank building on South Broadway.
Laurel Catto of the Warwick Foundation said the group is raising additional money through private donors to match that money — bringing the total to $550,000. The Warwick Foundation is a historic preservation group that promotes the work of Lexington native Clay Lancaster through education, preservation and promoting cross-cultural understanding.
Mayor Jim Gray has proposed using $150,000 of city money in his $323 million budget to help move the bank to a nearby lot on High Street. Once it is moved, the building would become the People's Portal — a community center that would focus on inclusion and multiculturalism. Warwick Foundation would take over the day-to-day operation of the building if it is moved. The Urban County Council will not take a final vote on Gray's budget proposal until the end of June.
Langley Properties, which owns the building, decided Thursday to delay demolition of the building for several weeks to give groups interested in preserving, moving and reusing the mid-century modern bank time to raise money and find a site. The group has proposed using a nearby lot on High Street owned by the Lexington Center Corporation, which runs Rupp Arena and the attached convention center.