"It’s always been discussed that we’ve been saving the money to put towards Lake Mitchell. Tonight, we’re here to do that for the public,” Council member Marty Barington said.
"Rather than taking out a $25 million loan, we can reduce it to roughly $20 million with the $4.6 million in capital reserves we have available," Mayor Bob Everson said.
City leaders hoped the auction would have attracted more than one bid, but Mayor Bob Everson said the sale of the building will save the city from having to demolish the building.
“We’re really working hard to get a national retailer on the north end of town and expand the market since Shopko left. That was our biggest goal to get this done,” Frank Krohmer said.