CHEYENNE— Cheyenne Mayor Rick Kaysen says discussions have become more serious about buying a vacant lot in a row of historic buildings in the city’s downtown.
The lot has been vacant since a 2004 arson fire in the basement of a bakery.
Kaysen says a recent appraisal put the property’s value at $280,000. The city already owns one-third of the lot that has become known as the “Hole,” and now is looking into buying the other two-thirds.
The owner of the other two-thirds is Capital Management Inc., of Overland Park, Kan. Capital Management President Chuck Mackey says the company is willing to sell the land to the city.
However, he says the company has made a substantial investment in the property.