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Council member Jeff Smith characterized the agreement as a move that sets Mitchell up for “major growth for the next 50 years.”
"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.
The 1,980-square-foot emergency storm shelter would be capable of holding up to 158 people.
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.