Rochester City Council approved the sale of the old Sibley Building on Main Street.
The building is owned by Roch-Wil Associates, but the company is in debt to the city. As part of the deal, Winn Development will pay $5 million for the building, with the assumption it will get a $3 million loan from the city. Winn development is pledging to spend millions to fix up the building and create new downtown homes and retail space.
The building is also home to MCC's downtown campus.