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The three quarters represent the concerted effort by Lorraine <br />McGowan in her store setup and marketing together with the <br />excellent efforts of both the full and part time help. The <br />fourth quarter should realize a $3-4,000 total net income for an <br />186 total of $12,-13,000 income for the two year period '85 and <br />186 place the operation at $2-3,000 for the two years but will <br />fall short of the needed return on investment of $5-6,000 per <br />year. <br />As Councilmembers have not had a chance to digest the third <br />quarter report coupled with the fact that not all Councilmembers <br />will be present at the October 27, 1986 meeting, it is <br />appropriate that discussion be deferred until the November 10, <br />1986 meeting. <br />At that meeting issues to be considered in addition to <br />performance of the store for 1986 year to date would be issues <br />related to disposal, which include: <br />- The sale/bid dates <br />- Income from investments <br />- Termination expenses <br />- Unemployment insurance <br />- Severance <br />- Bidding dates <br />- Close out date <br />In relationship to that the following would represent a suggested <br />timetable for sale of the store by September, 1987 in <br />anticipating a positive position for the operation for '87. <br />Preparation of specifications April 1987 <br />Publication for bid May of 1987 <br />Close of bids - June/July of 1987 <br />Close sale - terminate business - September 30, 1987 <br />RECOMMENDATION - It is staff's recommendation that the Council <br />receive the information and that it be placed as an agenda item <br />for the November 10, 1986 meeting. <br />PROPOSED MOTION - Moved by __, seconded by , that the Orono <br />City Council accepts the information staff regarding the third <br />quarter liquor reports and thaE it be placed on the agenda for <br />discussion on the November 1.0, 1986 Council meeting. Ayes <br />Nays <br />