It’s been called an eyesore for years and now the City of Cocoa Beach is one step closer to demolishing the iconic glass bank building.
The commission this week is expected to sign an agreement with one of the two owners to approve clearing the dilapidated property.
The attorney who represents Joseph Yossifon, who owns all but the top suite, said they have mixed emotions about the agreement.
They said they would have liked to remodel the iconic 1960s building but they are glad that they will finally be able to get some resolution to the dispute with Frank Wolfe, the owner of the top penthouse.
The pair has been in a longstanding dispute which frustrated city leaders who want the building torn down.
Cocoa Beach’s mayor said the building is a public nuisance and safety hazard.
The city attorney came to an agreement with Yossifon in which the city will demolish the building and clear the site. The owners will then have three years to pay the city back for the cost of tearing the building down.
All fines and liens will be waived as a part of the deal.
The city attorney said Wolfe isn’t going along with the agreement so the city will still have to go to court and ask a judge to allow them to clear the site.
News 13 has been unable to contact Wolfe. The city attorney said he now lives in Maine.
City leaders hope an agreement with Yossifon, the majority owner of the building, will give them a better chance of a favorable ruling from the judge.