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MINUTES <br />City Council <br />July 29, 1993 <br />Collyard stated that the proposed redevelopment area is <br />along Rice Street from Iona Lane to the A&W. It encompasses <br />the areas where the Venetian Inn, First Bank, and The Market <br />Place are located. <br />Collyard indicated that he and the Vitale family plan to <br />develop the area in two phases -- the north and south Rice <br />Street projects. The south Rice Street project would be <br />developed first and would contain all retail space. He <br />stated that the existing businesses would be transferred <br />over to The Market Place space during construction of the <br />south project. <br />Collyard stated that the retail shops in the south project <br />would consist of a grocery store with a video store and <br />other retail space next door, a six screen movie theatre, <br />and drug store. He indicated that they are recruiting <br />national, credit-worthy tenants. A proto-type of the <br />Venetian Inn would be located out front on Rice Street, but <br />it would be scaled down. <br />Collyard indicated that 20 to 24 months after the south <br />project would be constructed, the north project would be <br />started. The north project would contain a convenience <br />store/service station with a fast food restaurant adjacent <br />to it and a general retail area to the north. There would <br />also be a hotel/restaurant north of the convenience store. <br />Senior housing would be located behind the hotel/restaurant <br />in the north project. Collyard stated that the rents for <br />the senior cottages would be guaranteed at $385-485 per <br />month without a garage. The garage would be an extra $30 <br />per month. He indicated that the cottages proposed are one <br />story units and would be pre-leased to Little Canada <br />residents. The project would contain a deeded covenant to <br />guarantee the units would only be for senior housing. <br />Collyard stated that the proposal contains market flair <br />combined with common sense. He and the Vitale family <br />believe that the project proposed should be executed for the <br />success of the community as well as the development itself. <br />DeLonais asked how many families would be in the senior <br />cottages. 0'Shea stated that there would be one family per <br />900 square feet with four dwelling units per building. <br />-2- <br />