County Moves to Buy Former Bank Building for Tourism Use

Alamance County commissioners gave conditional approval to pursue the former Bank of America building in Graham, authorizing staff to execute a purchase contract and conduct inspections during the contract inspection period. Under the proposed arrangement the county would take title to the South Main Street property and hold it for the Tourism Development Authority, with occupancy tax revenues used to fund the acquisition. The vote was 3 to 2.

County staff told the board that the county would hold the building for the TDA and lease it to the authority, with a 20 year lease at no cost discussed as the vehicle for that arrangement. The TDA plans to use the space for displays and meetings aimed at attracting visitors to Graham and the wider county. Staff advised commissioners that inspections and a refundable deposit are included as contract protections, and that the board would be asked to revisit the matter if major structural issues are uncovered during the inspection period.

Commissioners pressed for details about the building age, parking availability and the potential for county costs beyond acquisition. Those questions highlight practical concerns about liability, ongoing maintenance and whether occupancy tax funds should be committed to a long term real estate holding. The split vote reflects differing views about using tourism revenues for downtown place making while transferring title and responsibilities to county government.

For local residents the acquisition could mean a new public facing venue downtown that supports meetings and exhibits intended to increase visitor traffic, potentially benefiting nearby businesses. At the same time the county will assume a custodial role for a commercial building, with long term maintenance and operational decisions tied to the TDA lease and occupancy tax funding. Next steps are limited to completing the contract inspection period and reporting back to the board if inspectors identify major structural defects, before any final purchase is completed. This decision fits broader patterns of small city efforts to leverage tourism funding for downtown revitalization while balancing fiscal oversight and public accountability.