Hillsboro Plaza emerged after a rain storm with strong winds struck town on July 17, 2001, about 7:20 p.m., causing the southwest portion of the former Hillsboro National Bank building to collapse, the roof to cave in, and bricks from its nearly century-old walls to fall onto the neighboring Escape and Montgomery County News buildings. After city engineers determined that adjacent areas were vulnerable to potential falling debris, Commissioner Bill Baran, serving as acting mayor in Mayor Harold Whitten's absence, obtained a court order to remove the unsafe portion of the structure. The owner, who had no insurance, then deeded the property to the city, and demolition was completed before 2001 Old Settlers Days. The city offered the corner property for sale with a minimum price of $50,000, but no bidders came forward. In November, Mayor Whitten appointed an advisory committee to gather public input on the site's use, and the following summer the council accepted the committee's recommendation to create a public plaza with a stage. Local businesses, organizations, and individuals donated funds for the project. Work began with a new brick wall on the north side of the city-owned Escape teen center, erected in the fall of 2002 to match the new wall already built on the east side of The News building. City workers completed the stage and adjoining storage room, a former bank vault, in 2003, and the plaza's concrete surface and new sidewalks were finished in July 2004. Two historic replica lamp posts were added in the fall, and the plaza committee continued raising funds for maintenance and purchases, including park benches added in 2005.