It will be able to have the building paid for within five to 20 years, depending on the bank the town chooses to contract with and the rate it pays, Barrett said.
City Councilman Frank Bannister said the decision to keep the property near the sewer plant was to ensure it was put to the best use possible as a potential commercial property. The land is zoned as "C2" commercial property, which means it can be used for nearly any non-industrial purpose, Barrett said.
"They have, in appraisals, what's called 'highest and best use of property.' I think the highest and best use of that particular property is commercial," Bannister said. "It needs to be a building or two buildings or even three that are a good front for Highway 817, because that's our main street."
According to Barrett, the city has been trying for years to build or purchase a new city hall.
The existing building, which is back away from the main road, was built to serve as a water treatment facility in the 1940s and has limited space and structural problems, he said. Barrett wants to put City Hall and the police department in the new building, and convert police headquarters along the Kanawha River into a community center.
"It would take 359 years to make up the $1 million difference in building a new building if we paid $2,800 a year," he said. "We could never make up the money we would save up front on this building."
The next regular meeting of the Winfield City Council will be Oct. 8 at 7 p.m.
Reach Lydia Nuzum at lydia.nu...@wvgazette.com or 304-348-5189.