01-11-95 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL JANIIARY 11, 1995 project. The investor group is the dollars behind the project. Collyard stated that he is trying to keep the investor group confidential until the date stated in the development agreement. Vitale reported that the Venetian Development Corporation was formed to promote the area. The Corporation is not the investors group. The group will be spun off once the investors come in. The principals in the corporation are Jim Vitale, Joe Vitale, Pat Vitale, and Gary Collyard. LaValle asked if Mr. Vitale was familiar with any leases which have been signed. Vitale replied that he was not, and has not been involved with the signing of any leases. LaValle asked if there are any signed purchase agreements. Vitale replied that there could be, but he was not aware of any. Fahey was concerned that staff put greater demands on Mr. Collyard than the Council motion outlined. LaValle pointed out that the City would not have a preliminary development agreement if it had not been for staff taking the time to draft one. Fahey stated that he did not blame the Council for being frustrated, but felt the project should not be killed because of miscommunication. Morelan pointed out that with the exception of the confidential information, the other items requested in the City Administrator's letter were either required by motion or by the conditions of the preliminary development agreement. Morelan pointed out that the time limit has expired for the submission of the items requested. Morelan pointed out that the December 21st motion instructed staff to meet with the developer to get more information. That meeting never took place, and the City had requested a January 6th, 3 P.M. deadline. Morelan indicated that one deadline after another has been missed by the developer. Morelan also pointed out that the items requested by the City 18