The Stevens Point Post Office is going to stay at its location on Main Street, but for a price. A new lease agreement has been reached, which means the Post Office will stay at that location, a spot it has been in for 50 years.
One thing that's not staying the same is the rent.
The 50-year lease was up at the end of 2011. Postal Office officials were unsure if they would be able to reach a deal with the company that owns the building.
But officials say a five year lease agreement has now been reached, but at nine times the original amount.
"Being that it was a 50 year window and the lease was associated with the 50 year window, certainly there is going to be a recalibration for today's dollar versus 1961's dollar," said Stevens Point Mayor Andrew Halverson.
But without the new lease, officials say the Post Office would have been relocated.
"For the city of Steven's Point, it would have been a huge step in the wrong direction to move the Post Office out of downtown," Halverson said.
The Mayor says the current location of the Post Office is a good one.
"It's an institution that's a huge traffic generator for business and traffic flow in and our of downtown," Halverson said. "With those measures, we are very happy that the Post Office has been able to make the lease a reality," he said of the deal.
Halverson says residents are happy with the agreement.
"It's one of those civic institutions that communities identify with and this community clearly wanted its Post Office to stay in downtown," Halverson said.
The Mayor says he hopes after this lease is up, another deal will be worked out, in order to keep the Post Office on Main Street.