The previous Liberal government committed $20-million to renovate the building so it could be the new home for the University of Windsor Law School.
In November, the new PC government cancelled the funding, claiming the province could not afford it.
Windsor Mayor Drew Dilkens doesn't think the building will be a burden on taxpayers and there's lots of upside.
The downtown landmark has already received a $3.3-million façade facelift, and Dilkens believes many businesses would like to move into the 100-thousand square foot building.
Not everyone likes the idea. Local developer Joe Mikhail, of Mikhail holdings, tells CTV Windsor council should step aside and let the private developers take over.
"By offering to buy it for a dollar and then putting it back on the open market that creates an uneven platform for all taxpayers who are in the same position."
If not, Mikhail tells CTV News he believes council should either use it for government services or convert a portion of the building into a library.
"Mikhail is prepared to donate $2.5-million to the city of Windsor for renovations if they put the library inside," says Mikhail. "The excess space that we would take over, we would convert into residential."
Mikhail says if council is not interested in the proposals, the building should be listed for sale on the open market.
Dilkens tells CTV News that's a risky move.
"We know from past experience not every developer who wants to acquire a building has the interest in developing that property," says Dilkens.
Dilkens will pitch the idea to purchase the Paul Martin building at the Jan. 7 council meeting, with hopes a final decision will be made that night.
— with files from CTV Windsor's Stefanie Masotti.