A Nacogdoches businessman says he's still interested in buying Hotel Fredonia. Richard DeWitt is reportedly still conducting due-diligence and said he should decide by the end of June whether to close on the property.

Texas State Bank wrapped up foreclosure proceedings on Hotel Fredonia in December, securing three liens on the property and inventory for more than $2.2 million.

More than $4 million is owned on the property.

Former owner Susan Reents closed the property in November 2013.

There is a bill in the Legislature that would allow DeWitt to use hotel occupancy tax revenue to renovate the property. The House approved the bill, which was sponsored by Rep. Travis Clardy, and it remains in the Senate Committee on Business & Commerce.

City management has said they can make it work without legislation, but it would be easier with the bill.

DeWitt's other properties include Clear Springs and Auntie Pasta's.