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documents for a freestanding facility, but it must be acknowledged <br />that there is an outside chance that we could have these construction <br />plans completed and the city may end up in the Sax store. Even if this <br />did happen we should still keep our Northbound site for long term <br />planning purposes. <br /> <br />B. Westbound Sites <br /> <br />Originally the city was looking at pursuing a Westbound Liquor store <br />site at the northwest corner of the Highway 10 and Joplin Street <br />intersection. As discussions progressed, it appeared that getting a site <br />in this quadrant was going to be unlikely, so the Council also directed <br />me to look at the northeast quadrant of this intersection for a possible <br />Westbound Liquor store site. After even more discussions, it now looks <br />very good for the city to obtain a 1.5 acre site in the northwest <br />quadrant of this intersection. This would be the center parcel of three <br />1.5 acre parcels between the frontage road and Highway 10. The price <br />being discussed is very competitive to the price that Guardian Angels <br />sold land for in this quadrant and to what the land owner wanted from <br />the city in the northeast quadrant of this area. Consistent with City <br />Council direction at the February 19 and August 5 meetings, staff is <br />moving forward with the drafting of a purchase agreement for a 1.5 <br />acre site for a future Westbound Liquor store at the northwest <br />quadrant of Highway 10 and Joplin Street. Depending upon what <br />happens with a future Northbound location, it should be acknowledged <br />that the city may not build a Westbound store for five to ten years, but <br />we do need to obtain a prime site now before they are all sold for <br />development. <br /> <br />FINANCES - I previously noted to the City Council that the liquor <br />store fund was the internal source of money used (as a loan) for the <br />King/Main purchase. Since that discussion with the Council, staff has <br />transferred part of that loan to a less active reserve - the self insurance <br />fund. Part of the King/Main internal loan is still in the liquor store <br />fund, but this is the $225,000 that is the anticipated purchase price for <br />this property. It is scheduled that this property will be sold to Mr. <br />Chuba in July, 1997. Accordingly, the liquor store fund will be made <br />whole in 1997 in time to finance any type of construction <br /> <br /> <br />