AUGUSTA, Maine (AP) — Maine state officials say they now plan to demolish a building that they spent over $270,000 to buy and rehabilitate for a now-defunct state agency.

Republican Gov. Paul LePage's administration says the former Bangor Savings Bank building will be torn down this week by a contractor. The Portland Press Herald reports the administration plans to create additional parking across the street from the State House.

The state previously spent $271,000 to acquire and renovate the building to house the Office of Policy and Management. The now-defunct agency's director quietly resigned in April and its sole remaining employee was reassigned.

David Heidrich, spokesman for the Maine Department of Administrative and Financial Services, says the property "holds strategic value" to the state.

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Information from: Portland Press Herald, http://www.pressherald.com