Laserfiche WebLink
F <br />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 <br />Advantages <br />* Less per square foot over the 15 years <br />*The City owns the building and is debt <br />free after the liquor bonds are paid <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 />-- $9.48 per square foot <br />Disadvantages <br />*Issuance of liquor revenue <br />bonds <br />*Upkeep of building <br />If you are interested in purchasing the building, it is recommended Council <br />approve the Purchase Agreement on March 11th to keep the process going. <br />