Downtown Association of Fairbanks

KUAC file photo

The Fairbanks City Council took a big step Monday toward taking over ownership of the old Polaris Building – a step that Mayor Jim Matherly hopes will lead to demolition of the contaminated and condemned downtown structure.

KUAC file photo

Officials with a group formed to find a way to demolish the old, abandoned Polaris Hotel in Downtown Fairbanks say they’ve come up with a way to finally accomplish that goal. Organizers say they’ve raised more than half of the amount of money they need to carry out a plan to foreclose on the property so they can knock down the crumbling, contaminated building.