The Dallas City Council’s committee on finance will begin discussions Tuesday about the future of Dallas City Hall, the start of a process that could eventually determine whether the iconic but deteriorating building is saved or demolished.

The debate comes as repair costs for the nearly 50-year-old structure are estimated to exceed $100 million, with some of its maintenance needs threatening its structural integrity.

City Hall, designed by renowned architect I.M. Pei and opened in 1978, has long been a symbol of Dallas’ municipal government. But the building’s mounting issues, including a water leak threatening its foundation and outdated electrical systems, have left its future uncertain. Last year, the city estimated at least $60 million was needed for critical repairs, but only around $14.5 million was allocated in the latest budget for major system repairs across all city-owned buildings. It remains unclear how much of that funding, if any, will be directed to City Hall.

The building’s fate is further complicated by its prime downtown location, which has become increasingly valuable as the city plans a more than $3 billion convention center rebuild and redevelopment of the surrounding area. The Dallas Mavericks’ search for a new arena site has also put City Hall’s land in the spotlight. Some developers and city officials see the property as a potential anchor for a new entertainment district, which could include apartments, hotels, and restaurants. The Mavericks’ lease at American Airlines Center in Victory Park ends in 2031, and the team has signaled its interest in relocating.

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But preservationists argue that demolishing City Hall would be a loss for Dallas’ cultural history. The Dallas Landmark Commission voted in March to begin the process of designating the building a historic local landmark, which puts a two-year freeze on major alterations, including demolition, unless approved by the commission.

The council committee meeting starts at 1 p.m. Tuesday at City Hall. A copy of the staff presentation hadn’t been released as of 10:50 a.m. Monday.