Old Katy Building May Not Be Worth Restoration - KTEN.com - Texoma news, weather and sports

Old Katy Building May Not Be Worth Restoration

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DENISON, TX -- An update now on the Old Katy Building in downtown Denison. As it turns out, the cost to restore the historical building is more than double what the building is worth, according to the insurance company. Deeda Payton reports.

This time last year, the Old Katy Building was cracked by heavy machinery. This past June, the corner collapsed. Since then the owner has been going back and forth with the insurance company over costs to restore the building. Then recently the family found out, according to the insurance company, it may not be worth it.

However the city says it does not want it torn down. "They'd like to see that building rehabilitated and put back in service that end of Main Street. Has a grand and classic look about it. It will take away from the east end of Main Street if that building is no longer there," said City Attorney, Tom Akins.

No decisions have been made. The city says it is ultimately about cost and up to the owner and the insurance company as to what they can and are willing to spend.

Deeda Payton, KTEN News.