Two options were brought to light by Roth at Tuesdays meeting. One would require either a referendum from residents or a reverse referendum allowing the city to borrow the money, and the other would be to pay cash for the building from the city’s reserve funds.
According to Roth and councilman Trevor Willis the city has the money available in reserves, for not only the purchase of the building, a $180,000 asking price, but also the necessary renovations which will be nearly $120,000.
“We have the money in reserves. We can pay cash for it and we don’t have to go through any (referendum),” Willis said. “But, I think $300,000 is a high figure. I think we can remodel it for less than $120,000 if indeed, we pay the full $180,000 to buy it.”
The next step for the council is to come to a decision to either pay outright for the building in question, or to take it to the people of Camanche for a vote.
If it is taken to a vote, the council would need to receive a 60 percent approval to move forward, a number council members feel would be difficult to achieve.