With an eye toward preserving a historical church tower, the city of Murfreesboro will consider buying Franklin Synergy Bank's downtown building for $1.55 million then selling it for redevelopment, Mayor Shane McFarland confirmed.

City Council members received information recently from City Manager Rob Lyons detailing the city's proposed offer to purchase the property at East College and North Church streets, the former First United Methodist Church building, which was transformed into a bank building in the early 2000s. The council could consider the matter, including the possibility of setting up tax incentives for a developer purchase, at its Thursday meeting at City Hall.

Under the proposal, Franklin Synergy, which is building a new Rutherford County headquarters along Medical Center Parkway, would lease the building from the city until a developer submits proposals to repurpose the site, according to McFarland.

Read More in the Murfreesboro Post.

Story by Sam Stockard