The N&R reports the Greensboro City Council met in closed session during Tuesday night’s meeting to consider purchasing the downtown former YWCA, which has been abandoned “after its former leaders discovered in 2008 that it faced a series of financial problems.” That’s putting it mildly.

This news comes on the heels of the council’s approval of a $24m limited obligation bond for the Greensboro Coliseum complex in addition to taking the first step toward putting a bond on the ballot for a downtown performing arts center.

The explanation is the purchase “would allow the city to protect its investment in an area known as the cultural district.” Exactly what the city would do with the property is anybody’s guess, but as you can imagine speculation is they’re priming it as the site for the PAC.