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MINUTES <br />CITY COUNCIL <br />JANUARY 28, 1998 <br />The City Administrator reported that Cinemark indicated they would <br />relocate the bank if they wanted to stay in the area. Fahey stated it was his <br />understanding that the bank is not interested in relocatin~. The <br />Administrator stated that Cinemark feels the bank property is <br />underutilized. They would like to relocate the bank in order to get enough <br />parking in close proximity to the theater. The Administrator reported that <br />he suggested the theater be located just north of Iona Lane, however, <br />Cinemark felt that location did not put other uses in close enough <br />proximity. <br />Pedersen pointed out that Cinemark will not consider the shared parking <br />available at the Market Place Shopping Center since that parking would <br />not be under their control. <br />Fahey indicated that he was not convinced that it was necessary to take out <br />the property south of Little Canada Road in order to make the <br />redevelopment project wa•k. Fahey pointed out that a lot of value would <br />be taken out and would be replaced with three buildings. Fahey suggested <br />that Cinemark might be asking the City to turn over a larger development <br />area than is necessary. <br />The City Administrator reported that Rusty Fifield has not had an <br />opportunity to analyze the Cinemark proposal on a parcel by parcel basis. <br />This would have to be done to determine what the payback is. He also <br />cautioned those present that the proposed building lay-out was very <br />preliminary and will change. <br />Scalze suggested that if the need is for parking that is close to the theater, <br />the proposal before the Council this evening contains too many streets. <br />5calze suggested elimination of some of the streets would result in more <br />parkin~. Scalze also felt that the residents of The Mayfield would object <br />to facing the back wall of the theater buildin~. <br />Fahey pointed out that Cinemark is insistent on showing adequate parking. <br />The Administrator reported that they want 900 to 1,000 spaces adjacent to <br />the theater. Pedersen pointed out that this is less than what the City would <br />require. Fahey also reported that Cinemark indicated that the more <br />parking that is available, the more likely spin-off development would be <br />retail rather than office space. <br />Morelan asked about underground parking or a parking ramp <br />