The Colgate Clock has been a staple of the Clarksville skyline since 1924.
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There are nearly two dozen buildings on the former Colgate property in Clarksville that have been mostly empty since the company relocated in 2008.
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The Clarksville Town Council announced plans on Wednesday to condemn the property.
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The town council is using eminent domain to "acquire, protect, and reuse the historic site."