6.0. SR 08-12-2002 - Laserfiche WebLink

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MEMORANDUM TO: FROM: DATE: Mayor and Council ~ .A Pat Klaers, City Admir~r.~/~l~'/. August 8, 2002 SUBJECT: Budget Worksession Item 6. Before actually getting into a discussion on the 2003 budget there are a few specific issues that need to be considered by the City Council. Initiative Foundation First, at the July 22, 2002 meeting, thc City Council requested more information on thc Initiative Foundation financial request. Attached for your information is a memo from Cathy Mehelich, Director of Economic Development, regarding this request and some data from the Initiative Fund regarding contributions it has received from municipalities. Additionally, Connie Marcyes, from the Initiative Foundation, will be at the City Council meeting to make a brief presentation and to answer questions. Westbound Liquor Store Secondly, at the July 22, 2002 City Council meeting, the information regarding a possible Westbound Liquor Store was reviewed. Attached are the cover letter and two-page summary from the feasibility study, a financial analysis for a Westbound and Northbound (using the feasibility study figures), and two pages related to the liquor store from the most recent city audit. At the July 22, 2002 meeting, the City Council indicated that it wanted to think about the information, and wanted to discuss a potential Westbound Liquor Store at a future meeting. Unfortunately, thc financial numbers do not look positive at this time to pursue a Westbound Liquor Store. Given the current state of the economy, the fiat sales at Northbound, and the current lack of commercial and industrial facilities along west Highway 10, it is recommended that the city not proceed with a Westbound Liquor Store at this time. It is also recommended that another feasibility study be conducted within two years.