Posted 7 months ago
By Kevin Horn
The city received three bids for the property, including one from local dentist Dr. Brandon Wilcox who told the council he was interested in building a dental clinic on the property.
Western Heritage Credit Union President and CEO Rebecca Reed stated that the credit union’s board of directors is in the preliminary planning state to build a new corporate office on the lot, that once was the site of the historic Alliance Motel and later the Iron Horse restaurant and lounge.
The sale will be formalized by an Alliance City Council resolution at a later date.
The city’s legal counsel is recommending that the sale agreement include a time stipulation as to when the property will be developed.
However, Ms. Reed told the Alliance Times-Herald, “It’s a strategic five-year plan and development at the site is probably three to five years in the future.”
Reed added, “from a regulatory perspective, credit unions cannot make speculative investments such as property acquisitions, and that property purchases must be for the benefit of the credit union members.”
Western Heritage Credit Union recently constructed a new building near Wal-Mart in Scottsbluff.