JACKSONVILLE, Fla. -- The Haydon Burns Library in Downtown Jacksonville is planned to be purchased Wednesday by the trustees of the Jessie Ball duPont Fund, according to a Jessie Ball duPont Fund press release.

The plans for the building include turning it into a philanthropic and nonprofit center for a variety of organizations, including the Jessie Ball duPont Fund.

"This is a great moment for the Jessie Ball duPont Fund and for the City of Jacksonville," said Sherry Magill, President of the Fund. "This building, with all its quirkiness, is one of the beloved structures in downtown Jacksonville. We hope that saving and repurposing the building will not only benefit our nonprofit sector and our downtown economy, but will also generate enthusiasm among local residents who have fond memories of the library."

Terms of the purchase have not been disclosed.

Additionally, the trustees plan to make the structure a green energy building demonstration project. The building will be engineered to meet LEED certification requirements, which include accessible green roof, recycled water and other energy-saving features.

The library, an iconic mid-century modern building, has been vacant since 2005. The release detailed that the renovations planned by the Jessie Ball duPont Fund's include keeping with the historic architecture of the building.

In addition, Jessie Ball duPont Fund plan for the structure and its 33,000-square-foot basement to become a refuge during a natural or man-made disaster.

The report said the planned renovations are expected to take at least 18 months and provide approximately 80,000-square-feet of rent-able space, with occupancy possible in late 2014 or early 2015.

The Jessie Ball duPont Fund works to expand access and create opportunity through grants to more than 330 eligible organizations identified in Mrs. duPont's will. The Fund has assets of more than $270 million and has awarded more than $329 million in grants since 1977.