Besides extra fencing, what should have been done? It's obvious they aren't hurting for space there, so there's not necessarily a great reason to rebuild in that spot even if the owner wanted to rebuild. It's also entirely possibly it was a derelict building, and may not really be owned by anyone. None of these speak well for the economy in the area, but they definitely don't make the "death of the city's economy is completely evident".

In some areas, work that needs to be done by the town or county may take a while. Sometimes that's the nature of living in a rural area.