The structure that now houses the municipal offices of La Laguna City Council, situated between the House of the Corregidor and that of the Captains General, was constructed between 1705 and 1709 on land that formerly accommodated the Alhóndiga, from which this building derives its name. Its intended public function was to serve as the location for the buying and selling of wheat. This grain, crucial to the diet of the Canaries, could be stored there by farmers without incurring any taxes or duties until the time of sale.