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<br /> . CITY F1\CILITIES - REVIEW OF OPTIONS <br /> Page Two <br /> Possible Sitin:l Alternatives <br /> Public Works arD City Hall <br /> (Key issues are related below with each site issue) <br /> 1. TCAAP property - Preferred site <br /> Negative: <br /> - date uncertain for finalizin;J larD aCXJUisition <br /> - need to brin;J in utilities, road upgrade <br /> - site provides sufficient space <br /> Positive: <br /> - low or now cost <br /> 2. CUrrent site - 200 preference <br /> - a positive point is =ently City property arD can be used <br /> :immediately. <br /> - negative points are: <br /> . lack of income frCBll the sale of this property <br /> . question of best use of property <br /> . space questions whether this provides roam for lon:rer tenn needs <br /> - my salt/sand frCBll outside vendor resulting in no storage <br /> requirement * resultin;J in no need for storage Wildi.n;J. <br /> 3. Rourxi lake - 3rd preference <br /> . - a positive point is that the larD is =entlyavailable for purchase <br /> - However: <br /> . costs of larD ao:;{Uisition is additional to =ent b.tdget <br /> . infrastructure improvements needed - road, a=ess to 'IH 96, <br /> utilities, arD <br /> . accessibility arD visibility to public are limited <br /> * 'Ibis option can be pursued in any site plan. <br /> Public Facilities Financial OPtions <br /> 1- Pursue 200 referendum after 6 months frCBll November 3 (May, 1993) - <br /> Amount must be the same. * <br /> 2. Pursue a 200 referendum as soon as needed - the amount would be less <br /> than or above 5 percent of the $2,800,000 (range of less than $2,660,000 <br /> or over $2,940,000) after 45 days of notityin;J the County of the City's <br /> notification of callin;J for a referendum. * <br /> 3. Pursue a lease purchase option - this can be done as soon as necessary <br /> with bonds frCBll an HRA. * <br /> 4. Direct lease frCBll a lease company, Le. i Northwest National Bank. This <br /> is discouraged if costs are more than $1 million - issuance costs would <br /> be within levy limits if they return. The City owns the property. <br /> . 5. city may issue ce:rtificates of participation arD declare Council as a <br /> buildi.n;J authority thereby creatin;J an IDA. 'Ihis would be subject to <br />