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MINUTES <br />CITY COUNCIL <br />OCTOBER 26, 1994 <br />indicated that if something changes with TIF <br />regulation, he has an alternate plan for retail on a <br />secondary outlet basis in that area. <br />Collyard stated that he is trying to cover all the <br />bases and cure the City's tax ails, and bring Little <br />Canada to a level of appeal from a retail standpoint. <br />If the project cannot be done on such a comprehensive <br />basis, then Collyard anticipated isolating projects <br />that can move into a comprehensive development. <br />Collyard also pointed out that leases would be 20 year <br />hard leases with 30 years of options. Collyard <br />reported that once the preliminary development <br />agreement is submitted, he could begin to divulge the <br />details of who the retailers are. <br />Morelan pointed out Collyard's statements about a <br />28,000 square foot grocery store, and the fact that <br />Rainbow Foods is at approximately 30,000 square feet. <br />Rainbow has indicated that this space is not large <br />enough for them. <br />Collyard reported that Rainbow does not want to put any <br />additional dollars into their current location and are <br />looking to move into space approximately 60,000 square <br />feet in size. Collyard reported that Rainbow will <br />leave Little Canada, and he is working with comparable <br />grocery stores to locate in the new retail center. <br />Collyard also pointed out that the location he is <br />proposing will be more visible and accessible than <br />Rainbow's current location. Collyard stated that his <br />retail development will have 3 to 4 anchor tenants with <br />the remaining retail mix built around these tenants. <br />Morelan felt that Collyard was putting a lot of weight <br />into people buying that Little Canada was a mid-point <br />between Rosedale and Maplewood Mall. Morelan felt the <br />area was loaded with movie theaters already. Morelan <br />asked what makes Collyard's retail proposal any <br />different than the Market Place Shopping Center. <br />Collyard felt that the tenant mix proposed as well as <br />the financial group behind the gateway project would <br />make it successful. Collyard stated that there was a <br />natural sense to the project since it is located <br />between Rosedale and Maplewood Mall. Attracting a <br />hotel and a movie theater to the area would cut off the <br />competition. Collyard stated that he was into hard <br />16 <br />