BAKERSFIELD, Calif. (KGET) — The city of Bakersfield can move forward with buying the Bank of America building in the downtown area following the City Council’s approval on Wednesday.

The Council voted 4-2 to approve a $12.1 million interfund loan from the city’s Equipment Fund to fund the purchase. Council members Zack Bashirtash and Ken Weir voted no and Vice Mayor Manpreet Kaur was absent.

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Bashirtash said it makes him “sick to (his) stomach” to use taxpayer money to pay off the loan’s 2.5% interest for the next 12 years. He expressed wariness about this project costing the city so much money, saying the city could spend that money in other areas like jail beds.

On the other hand, Council member Larry Koman said he believes this is a fair financial deal that counts as a good overall purchase for the city.

Council member Bob Smith said he always prefers ownership over leasing due to cost savings. He also pointed out the City Hall North building was purchased in 2005 for $13 million.

“Twenty-one years ago, it’s half the size and we paid $13 million. And so we’re getting, 21 years later, we’re getting twice the building for the same amount of money?” Smith said. “Seems like a good deal to me.”

The 10-story, 127,504-square-foot Bank of America Building, also known as the Truxtun Tower, is at Truxtun and Chester avenues across from the Kern County courthouse. It also has a 2.3-acre parking garage.

It costs $13.35 million to buy the building, but there is over $1 million in additional costs that come from other spendings like improvements, according to city officials.

The Council also approved allocating a total of $2.5 million to the purchase and improvements. This comes from the city’s Capital Facility Reserve, officials said.

The building is meant to provide office space for Bakersfield Police Department staff, according to the city. 

Police staff currently work at 4550 California Ave., but staffing has increased significantly over the years. The city is looking to move staff to the Bank of America building’s office space to address capacity issues.

Staff said buying the Truxtun Tower would create short-term and long-term savings for the city.

The new lease for the California Avenue office space is estimated to be about $1.1 million. Since Bakersfield no longer needs to pay that lease and is instead buying the Bank of America property, the city is essentially saving that amount each year, staff argued.

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Other existing tenants in the building are also expected to provide a stable income source for Bakersfield. These tenants include Kern County Superintendent of Schools, Clifford & Brown and Marderosian & Cohen — two law firms.

BPD’s investigations unit and training unit are set to relocate to the Truxtun Tower in early 2027, but it depends on when improvements are completed, officials said.

The Council approved the lease agreement in March, along with an option to purchase in the near future.

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