(BEDFORD) - The Bedford officials took another step toward owning the former Indiana Limestone Co. building on the north end of I Street.
The Bedford Board of Works signed paperwork allowing Oakland City University to donate the building and parking lot to the city.
In Sept. 2011, an appraisal by Gilbert S. Mordoh & Co. of Bloomington put its value at $1.5 million.
The city will take possession of the building on July 1 if the building passes an inspection, if not the city can back out of the agreement.
Oakland City University will continue to lease the building from the city until the new Stone Gate Arts, Education and Cultural Center is open at 15th and J streets.
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