The lifeboat you're on is sinking, but you don't know exactly when. How do you decide when to let go and fend for yourself? What if you let go too early?

Or too late?

That's the way vendors in the Roanoke City Market Building say they feel about looking for space to relocate when the building is shut down for renovations.

The building's supposed to close in September. But, the vendors point out, the city's plans are still being refined, the work has not been put out for bid, no contracts have been signed, no proposed dates are firm, no board has been appointed to the foundation that will oversee the building and no management has been hired to run the place.

And any or all of that might factor into the decisions of the market building's retailers and restaurateurs as they decide where to move to, how long of a lease to sign, and whether they'll really be able to move back into the building after 10 months of renovations.

Should they leave now if it all might be delayed? Will they be able to afford the new rents when the building reopens?

Can they bear the cost of building out their space after moving and renovating a new space once already in the year?

"We have no guarantees of anything," said Mike Jirousek, co-owner and manager of Tokyo Express, and that is "killing us."

"We don't have anything but a promise and prayer," added Louis Wilson, owner of Burger in the Square.

The two spoke at an informal meeting with city economic development officials Friday in the market building dining area. City Economic Development Manager Rob Ledger called the meeting ostensibly to take stock of how the vendors are faring in looking for new digs, however temporary, and to offer the city's help.

No one had firm plans for relocation.

Ledger encouraged them not to waste time.

"The worry I have is September is going to be here before we know it," he said. "The only information I have is everything is proceeding."

Other city officials confirmed that the process remains on track.

But that wasn't good enough for the vendors, who say delays are common in major building projects, especially in uncertain economic times.

Jirousek added that there are city council elections in May, and if contracts for the work aren't signed by the time a new council is seated, the new council could halt the whole process. Jirousek is working on the campaign of Republican Bob Craig.

That's not to say that none of the vendors has been looking for new space. They just haven't found much that would work.

Glenna Johannessen, owner of Seeds of Light, wants to keep her business downtown.

"I think if some of us stay in downtown Roanoke, it'll keep the dialogue open with the public," Johannessen said. But the spaces she's looked at are three to eight times the size of her 400-square-foot space on the southeast corner of the market building -- with rents to match.

And landlords want three-year leases, not the short-term commitments needed by vendors with plans to return to the renovated market building.

Razak Mogul of clothing retailer Gone Coco said there's chaos outside the market building from a major overhaul at Center in the Square. With parking lost and some streets closed, he said, it's hard to tell what parts of downtown will be good to rent.

Ledger encouraged the vendors to team up in the search for space. Maybe they'll have more buying power, or can make use of a larger space, if they work together and share it.

Jirousek said he's been looking at downtown Salem or somewhere in Roanoke County.

"Really, for us, staying downtown is not an option," Jirousek said.

Still, the vendors and Ledger agreed on one thing -- they all want to stay downtown, and return to the market building when they can.

Not all held out much hope, though.

"I'm staying right here till they kick my butt out the door," said Dean Crump of Nuts & Sweet Things. "We'll never see the inside of this building again."