The City of Platteville is back in the real estate business for the time being.

'The Common Council voted April 14 to purchase five properties collectively known as the former home of Pioneer Ford Sales at East Pine Street and South Water Street.

The council’s 5–0 vote — Ald. Barb Stockhausen was absent and Ald. Mike Denn abstained — makes the city the owner of Boldt Properties’ buildings at 45 and 75 Oak St. and 50 and 70 S. Water St., as well as the parking lot at 85 S. Second St.

The purchase is contingent on the city’s getting grant funding to help pay for environmental assessments and remediation of the properties. The purchase and demolition of the buildings will be partly funded by a Community Development Block Grant and partly funded through the city’s downtown Tax Incremental Financing District 7.

“This location is a key part of the 2010 Downtown Revitalization Plan, which was adopted in January 2011, as it is the gateway to our downtown area,” said Common Council President Eileen Nickels in a City of Platteville news release. “It is critical to provide an environmentally sound and clean building site to attract potential developers to support the future of downtown Platteville.”

Pioneer Ford moved to East Business 151 in 2012, 50 years after the dealership opened at the Pine and Water site.

The last time the city made a major real estate purchase was 15 houses formerly owned by Darrel Kallembach, which were purchased through more than $300,000 in fines and interest charged to Kallembach for violations of city building codes. Two developers purchased four other Kallembach houses in the 2013 sheriff’s sale. The city sold 12 of the houses and demolished three.