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MINUTES <br />CITY COUNCIL <br />MAY 26, 1993 <br />costs and the second year lease amount would be <br />adjusted accordingly. Krogman also reported that TCF <br />is appealing the taxes at the Market Place, and should <br />that appeal be successful, there will be an effect on <br />costs. Krogman reported that TCF is proposing a five <br />year lease with successive one year terms. <br />Morelan asked if there was any limitation on how far up <br />or down the rent amount could go. <br />Krogman replied that there is not, other than the State <br />restrictions. Krogman pointed out that it is a <br />difficult cost to estimate given the taxes, utilities, <br />cleaning, etc. that must be included. <br />Slipy pointed out that Mover's Warehouse knows the cost <br />of running the binqo hall. Slipy stated that it was <br />fine for TCF to put together cost estimates, and <br />indicated that at the end of the year if the costs are <br />higher or lower, the rent will be adjusted for the next <br />year. Slipy reported that the proposal that Mover's <br />Warehouse has put together reflects costs that it knows <br />to be fairly accurate. Slipy pointed out that there <br />are other factors than just rent that are affecting the <br />organizations' ability to run a successful operation. <br />LaValle agreed that there are other expenses affecting <br />the operations, and if the Council wants to look at <br />those expenses at a later date, that was another issue. <br />Slipy pointed out that he has a 7 1/2 percent home <br />mortgage, and indicated that if he could get 4 percent, <br />he would. Slipy stated that no one has said a bank is <br />doing anything wrong by charging 7 1/2 percent <br />interest. 51ipy reported that Mover's Warehouse has <br />asked and no one has said they have done anything <br />wrong. Slipy questioned the bingo hall license qoing <br />to someone else who comes in with a low-ball figure who <br />wants to fill up space Slipy reported that Mover's <br />Warehouse has been in business for seven years and has <br />run the bingo hall without breaking any laws or doing <br />anything inappropriate. Mover's Warehouse believes <br />their costs are competitive, and does not understand <br />why it has to be faced with losing the bingo hall <br />license because someone has an empty building they want <br />to bring tenants into. <br />Aanson stated that it was his feeling that this is <br />happening because the current tenants at the bingo hall <br />are unhappy. <br />Tom Short, Mover's Warehouse, aqreed. Short stated <br />that the City asked that he submit a proposal to the <br />Page 3 <br />