Downtown Chillicothe is getting a new foundation.
A non-profit corporation called Historic Chillicothe is purchasing the Carlisle building by land contract and plans to raise money to renovate the building.
A fire was set at the historic building in 2003.
Since then, many have debated what to do with the structure that remained.
Historic Chillicothe President Nancy King says it will cost about $1.5 million dollars to renovate the building.
The Carlisle was built in the 1880s.
The group plans to launch a 12-month fundraising campaign in hopes of raising $1.1 million dollars of the money needed to fix up the building.
The renovation plan for the building includes stabilizing the structure and restoring the exterior of the building.
After restoration, the group plans to lease or sell the building to the "most desirable end users."
According to a news release, "A permanent facade easement would be reserved by the non-profit or any other non-profit designated by Historic Chillicothe, Inc. as a condition of sale."
Group leaders say there is a critical need to fix up the Carlisle building as it is the foundation of the downtown area.
They say a new and improved Carlisle building will benefit the entire community and the area economy.