The Lubbock City Council has received an update to a feasibility study being conducted on the Omni Building.

KAMC News, everythinglubbock.com

At their meeting on Thursday, August 28, City Council members received information on the cost of asbestos abatement for either re-purposing or demolishing the defunct building.

The City of Lubbock entered a contact of sale on July 10, 2014, to potentially purchase the downtown Lubbock building and its related properties including a parking garage. The contract stipulates 90 days for the city to conduct assessments of the title and property with a possibility of a 45-day extension for a further fee. At the end of this period the city can either purchase the building or terminate the contract.

Many studies have been conducted on the building for a total cost of more than $135,000. The Environmental Services Agency conducted a survey to determine the cost of asbestos abatement. They found that it would cost between $1.2 million to $2.2 million to ready the building for renovation and from $3 million to $5.3 million to ready the building for demolition.

The Lubbock City Council will announce their decision regarding the Omni Building at a forthcoming council meeting.