08-13-97 Council Workshop Minutes

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MINUTES CITY COUNCIL AUGUST 13, 1997 pointed out that the DeLonais prope~ty is not available. Fahey asked if the project would be doable with these constraints. Moarn felt it would. Scalze asked what the Council's decisions would be. Moarn replied that once the theatre size is determined, the financial feasibility would need to be determined. The City will likely be asked to provide the land and the parking ramp. Once these details are worked out, construction would begin. Fahey pointed out that a lot of the financial feasibility will be based on assumptions about other tenants that will be brought in. Fahey stated that if a theatre is developed, he would be very surprised if retail and restaurant development did not fill up the area. Fahey stated that the City needs its experts to comment on the attractiveness of a theatre development for the whole redevelopment. Moarn pointed out that the number of restaurants which will work in the area will have to be determined. Moarn felt that number was between two and six. Fahey asked The Venetian Inn representatives what their plans were. Joe Vitale replied that they cannot make any decisions until redevelopment decisions are made. Once the redevelopment is in the works, The Venetian will be able to focus on where they would relocate to. Moarn suggested it may be feasible for The Venetian to abut the theatre or be connected to it. Richard Vitale stated that it was difficuh to make a decision without seeing the entire plan. Fahey stated that the City wants to ensure that the restaurants which locate in the area are an asset to the redevelopment project. The City Administrator felt the next step would be to look at the numbers and see if the project works. The Administrator suggested that the City's consultants will work with Moarn to put together this additional information for the Council's future review.