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FINANCIAL IMPACT <br />The purchase price of $225,000 will be funded with the annual peaking plant payment. There will be on- <br />going costs for snow removal that will be included in the annual budget. Additionally, at some time in the <br />future, the lots will need to be sealed or overlaid. City Engineer Justin Femrite has inspected the lots and <br />indicated that no immediate repairs are needed and that the lots are in good condition. <br />ATTACHMENTS <br />^ Copy of the Commercial Purchase Agreement <br />Action Motion by Second by Vote <br />Follow Up <br />N:\Departments\Administrative Services\Administration\Lori\2011 <br />