LEWISTON – The saw-toothed Bates Mill No. 5 will get one more shot at redevelopment, city councilors said this week.

They agreed to look nationally for bidders to redevelop the aging, 345,500-square-foot building in the center of downtown along Main and Canal streets. They’ll accept redevelopment proposals until July 25.

“We’re looking for someone who has ideas about what we can do with that space, and the ability to flesh those ideas out and move in,” City Councilor Denis Theriault said. “You never know what they’ll come up with, so we’re asking. But this is the last time.”

City councilors officially received a report in March from a 15-member task force that studied possible uses for the building. According to the task force’s report, demolishing the building would cost about $4.15 million. Constructing a convention center could cost between $40 and $58 million, but would create jobs and spawn other economic benefits, attracting more hotels, retail and restaurants.

The task force also studied the costs associated with marketing the mill for private development. It estimates that would cost about $200,000.

The building is the last part of the Bates Mill Enterprise Complex that the city still owns. The site has been considered for a convention center for years.

“It’s time to do something,” Theriault said.

The city spent $315,060 on the building in 2006 and $179,667 in 2007. The 2007 spending was offset by parking revenue and a short-term lease of the space.

“Now we need to get the word out about this,” Councilor Tom Peters said. “That’s going to be the best gauge to see if anyone is interested.”

Lincoln Jeffers, assistant to the city administrator, said he plans on sending the bid package to developers nationwide. But he cautioned councilors about high expectations from out-of-state developers.

“A developer in California doesn’t know the history of the building or the impact it could have,” Jeffers said. “We’re not likely to see much of a response from those developers.”

The building was designed by industrial architect Albert Kahn and opened in 1914 as a weave shed. The top floor, immediately under the distinctive roof, housed as many as 300 Jacquard looms during the Bates Manufacturing Co.’s heyday.