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M IPI U'i E~ <br /><'1'L'Y ~'OiTi~tC'IL <br />1~1t1Y 5, 199'1 <br />Fahey asked if the next step would be to show the site to the developers <br />and determine the locatlon f'or an arena. <br />Laurent reported that they would like another 60 days during which they <br />would speak with the arena people as well as theater owners, and possibly <br />a grocery store. Once the anchor is determined, Laurent/Pa1•ks would <br />branch out to the other sites. Laurent reported that the hockey people will <br />be in town in the next two weeks and they will be out to look at the site. <br />Joe Vitale asked about taxes on the arena if it is 5tate-f'unded. <br />Moarn reported that taxes would be pa'rd on the retail portion of the arena, <br />but it is not anticipated that taxes would be paid on the ice area of the <br />arena. <br />Pahey did not like that idea pointing out that the City has a lot of land that <br />is not ta~cable. Scalze pointed out that the redevelopment of the Rice <br />Sh~eet/Little Canada Road area may not happen without the arena as the <br />draw. <br />Fasciana asked if it were feasible to develop the arena ~,iven the cost of <br />assemblin~; a site. <br />Laurent stated that it will be important to get to the botCOm line of the <br />project as quickly as possible. Laurent pointed out that a lot of what [ <br />bein~; proposed is not a tax generator but are traftic generators. These <br />businesses are aware of their ability to generate trlffic and expect to be <br />compensated for that ability. <br />The City Administrator reiterated that the project must work from an <br />economic standpoint. <br />DeLonais pointed out that there is already a brocery store in the area <br />Moarn replied that he believes getting another grocery stare in the area <br />may be a stretch. There is concern that there is already a grocery store in <br />the area and that store does not do the volume they would want to do. <br />Joe Vitale asked the acrea~;e that would be required for ~n arena. <br />Moarn replied that six acres would be required, possibly seven. Eight acres <br />would be required for a movie theater with eight screens if a shared parkin~ <br />arrangement can be worked out. NIoar•n reported that if there is a positive <br />