The former RSA building in Itchen St, Oamaru, has transferred into Waitaki District Council ownership, but there is a still ''a big question'' over its future, the council says.
Assets group manager Neil Jorgensen said this week options for the building had not yet been discussed by the council.
''There is no direction at this stage,'' he said.
''[The council] hasn't even talked about what the possibilities for those options might be.
''It's actually going to be quite a bit of work, trying to figure out what's the best option now for the community.
''It's a big question, really. The last thing we want is a big liability to the ratepayer.''
The two-storey building, which opened in 1951, stands on Crown war memorial reserve land. When the North Otago branch of the RSA went into liquidation last year, members voted for the building go to the council.
The Otago Daily Times last year reported the building had a 2012 value of $345,000. However, Mr Jorgensen this week could not say what the building was worth.
''It's not actually that relevant just at the moment,'' he said.
''Once we decide something we're going to do with it - if we're going to lease it out to a major commercial tenant or someone like that - then there would be a valuation of what that lease would be worth at that time.''
The amount of work needed on the building, including earthquake strengthening, would be taken into consideration when a valuation was needed.
Councillors learned at the assets committee meeting on November 25 the ownership of the building had been formally transferred.
''It was new information to everyone,'' Cr Jim Hopkins said after the meeting.
''That's a very new development.''
Mr Jorgensen said planning for the future of the building was ''really early days''.
''[The] council wasn't seeking ownership of the building; it's just been given it by default really.''
