The Valencia City Council is finalizing the purchase of the Palace of the Marquises of Montortal for an amount of 2.4 million euros, with the aim of expanding the municipal archives, according to the Valencia Plaza newspaper.
The historic building that dates back to the 18th century and is located at number 4 of the central Plaza de Tetúan in Valencia, will pass into the hands of the Department of Historical Heritage directed by Gloria Tello.
For the acquisition of the Palace, the consistory will exercise the right of withdrawal that gives preference to the administration in the process of buying and selling this type of property.
The money will come from remnants of last year, that of the five million budget that will be allocated to the purchase of heritage, 2.4 million will be allocated to the purchase of the historic building.