Ben Garbacz/Daily Mining Gazette At Monday's meeting of the Downtown Development Authority, this parcel on Franklin Street was purchased to provide more downtown parking.

HANCOCK — The Hancock Downtown Development Authority (DDA) has purchased the property at 114 Franklin St. from Mark Elmer. The purchase was approved at Monday afternoon’s DDA meeting, which took place earlier in the day than usual at Elmer’s request as he requested that a decision be made before leaving on a trip next month.

The DDA agreed to pay $195,000 for the property. Hancock City Manager Mary Babcock said she offered Elmer $180,000 for the property and while he initially wanted $200,000. The purchase allows the city to provide more parking. The city was looking for additional parking because of the potential for more housing units to be added nearby.

“It’s become very apparent with the additional housing units that have gone in some of the floors off of businesses downtown, and also filling the main floors with businesses that we need additional parking the city can then maintain and offer to residents down there,” Babcock said after the meeting. “So as people have been invested in their buildings, that has been more of an issue.”

As of now, the property would provide 24 parking spaces and with additional spaces added once the DDA tears the building down. However, that is not expected to happen at any time soon. In the meantime, the building will serve as summer equipment storage space for the Department of Public Works. Because the building will be demolished, the city will refrain from making any improvements on it. It’s unknown exactly how many parking spaces will be created once the building is demolished.

There are also plans to create a walkway behind the property, but the DDA will first need to reach agreement with the other property owners in the area since the space is private property. Babcock said she has already spoken with one of the owners and the owner was fine with the plan.