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MINUTES <br />CITY COUNCIL <br />NOVEMBER 7, 2001 <br />Farnham stated that he questioned whether the City could develop an 80-unit <br />senior building without bringing other pieces of land into the project. The City <br />Administrator pointed out that his concept contemplates a portion of the <br />Rutzick property being added to The Venetian Inn site for a total of 3 '/z acres. <br />Farnham suggested that the Council has to decide its vision for this property <br />and the product it wants to deliver. <br />Fahey indicated that he wants to see an 80-unit market rate senior project with <br />a retail component on the first floor consisting of 25,000 square feet He <br />pointed out that this retail component is an important piece as it will aid the <br />City's redevelopment efforts in the area. Fahey indicated that he is open to <br />suggestions for the development of the remainder of the Rutzick property. <br />However, that development must be senior housing of some sort whether it is a <br />senior building or townhouses. Fahey also pointed out that given the Ultimate <br />Golf property is for sale, there is the potential to bring this property into the <br />development as well Fahey felt that at this point the City should move <br />forward to finalize the purchase of The Venetian Inn site. <br />LaValle asked when the City would take possession of The Venetian site. Joe <br />Vitale reported that after closing with the City, he would need 60 days to <br />prepare the equipment and furnishings for auction. Fahey suggested that the <br />City could be flexible on the closing date if that would resolve the issue of the <br />building sitting vacant for a few months. Fahey suggested a lease back to The <br />Venetian and their continued operation of their restaurant for a couple of <br />months after the closing. <br />Fahey pointed out that Ultimate Golf is for sale and it is a question of how <br />much the City can do. If the City purchases The Venetian property, Fahey felt <br />it should be prepared to do what is necessary with the rest of the area. Scalze <br />pointed out that Rutzick will not be interested in giving up a portion of his land <br />without assurances that he can develop the remainder of it. Fahey stated that <br />Rutzick will have to come in with a senior housing project that meets the <br />City's needs. <br />Farnham indicated that the City has multiple parties interested in developing <br />senior housing. He felt it important for the City to identify what its priorities <br />are so that the developer can determine if they can meet the City's demands. <br />Fahey outlined that the City is interested in market rate senior housing of 60 to <br />80 units on the corner that includes a first floor commercial component of <br />25,000 square feet. The remainder of the area is open. However, that <br />development must be senior housing and must have a limited component of <br />subsidized housing. Fahey stated that he would like to see a range of senior <br />housing components from townhomes to assisted living. <br />