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SAV 2 <br /> Page 2 • <br /> improvements. The liquor revenue bond is paid back with sales from the liquor <br /> store. <br /> TOTAL COST TO CITY WITH INTEREST AFTER 15 YEARS -- <br /> $1,209,254. <br /> Annual net rate of liquor bonds <br /> over 15 years -- $9.48 per square foot <br /> Advantages Disadvantages <br /> * Less per square foot over the 15 years *Issuance of liquor revenue <br /> *The City owns the building and is debt bonds <br /> free after the liquor bonds are paid *Upkeep of building <br /> off in 15 years <br /> *Tires Plus lease gives City opportunity <br /> to get $725,000 back. Under the lease, <br /> the $275,000 is not paid back <br /> If you are interested in purchasing the building, it is recommended Council <br /> approve the Purchase Agreement on March 11th to kdep the process going. <br /> r <br /> • <br />