Glass Bank building to be demolished by Jan. 2015

COCOA BEACH, Fla. – The city of Cocoa Beach says demolition on the Glass Bank building is continuing, with a projected completion date estimated for the end of January.

City officials say the city just approved about $30,000 in extra funds to go toward demolition efforts. A city spokeswoman says the contractor found hidden asbestos and because there was so much the costs increased.

The city is picking up the tab, which is now nearly $200,000, to bring down the building. According to the city, the building's owners have agreed to pay them back for the costs.

Many people who live and work near the building are counting the days until it's leveled.

The spokeswoman says the contractor has been able to salvage aluminum and wood from the project that it will recycle.