BY CINDY SCHROEDER
The Cincinnati Enquirer
COVINGTON -- The 161-year-old building that housed Covington's first bank will soon return to its original use.
Kenton Fiscal Court agreed Tuesday to sell the former Mosler Safe Co. building at 231 Scott Blvd. to The Bank of Kentucky, a nine-branch, locally owned bank headquartered in Florence.
The Bank of Kentucky is paying $550,000 for the three-story Greek Revival structure, and it plans to open a branch office there. The bank is in partnership with the Cincinnati accounting firm of Munninghoff, Lange and Co., which also would use some of the building's office space.
Kenton County Judge-executive Rodney "Biz" Cain, who is one of the bank's founders, as well as a current bank officer, did not take part in the vote, or any of the discussions leading to its sale, members of fiscal court said.
The Mosler building, along with The Actors Theatre of Louisville, are early examples of Greek Revival architecture that served as 19th century banks, said Leah Konicki, Covington's historic preservation officer.
While county officials cannot protect the building on a permanent basis, as they had originally hoped to do, the contract calls for the bank to maintain the exterior facade of the historic structure for at least 20 years.
Commissioner Steve Arlinghaus noted that the building's new owners plan to spend about $2.5 million to rehab the 15,000-square-foot structure.
"I think there's a good chance it'll be around for awhile, if they're spending that kind of money," Mr. Arlinghaus said.
About 35 to 40 people will be employed at the Mosler building, bank President Robert Zapp said. The purchase agreement calls for the bank to lease 80 parking spaces in the 1,600-space county parking garage that recently opened at 220 Madison Ave.
The building is in the same block where the county is building a $30 million courthouse, and it's near the Northern Kentucky Convention Center, which opens soon.
In other business, the fiscal court asked Kenton County Police Chief Mike Browning to provide more information on a legislative change that allows Boone, Kenton and Campbell counties to collect an extra dollar in court costs to help fund the Crime Stoppers program. The money would be added to court costs paid by Northern Kentuckians convicted of non-traffic-related misdemeanor crimes, such as prostitution or possession of marijuana.
Chief Browning later said statistics on Kenton County's misdemeanor convictions show the county should generate about $3,500 a year for the 17-year-old, nonprofit program that rewards tipsters who help solve crimes.
