The Johnson City Board of Commissioners voted Thursday night to sell its conference and convention center to East Tennessee State University.
The Board voted unanimously to sell the Millennium Centre to ETSU, a deal that could close by the end of the month.
The purchase price will be $5,824,584.
ETSU is constructing a new performing arts center next door to the Milliennium Centre.
City Commissioners indicated overwhelming support for the measure.
Earlier Thursday, an ETSU administrator said the sale of the Millennium Centre will represent a strengthening bond between ETSU and the City of Johnson City. “I think it’s an exciting time for workforce development, for economic development, for growth of academic programs,” said Jeremy Ross, ETSU’s Chief Operating Officer. “The university and the city have come together and they’re inextricably linked for the welfare of the region.”
Mayor David Tomita told News Channel 11 the city has been forced to subsidize the Millennium Centre’s budget by as much as $600,000 in recent years.