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MINUTES <br />CITY COUNCIL <br />JANUARY 28, 1998 <br />The Administrator reported that Michael Schroeder has suggested that the <br />City designate some area for a future ramp so that development is not <br />limited later on. <br />Pedersen pointed out that the plan before the Council this evening is only <br />a concept. <br />Vitale asked if the theater would have retaii space attached to it. The <br />Administrator replied that it would not. <br />Scalze pointed out that if the Little Canada Road connection to Rice Street <br />were eliminated, the theater could be placed in that location and additional <br />area is gained for parking. Scalze asked why the theater would not want <br />to be located on Rice Street. <br />Fahey felt that if the entire area must be taken out, then perhaps there was <br />more merit to locating the theater on Rice Street. <br />The City Administrator suggested that if Cinemark wants the City to take <br />out the entire area, there must be some guarantees that they will build <br />everything they say they will. The Administrator reported that Fifield is <br />anticipating a 17-year bond issue. If Cinemark does not build what they <br />claim they will, there would be insufficient cash flow. The Administrator <br />indicated that he discussed with Fifield the possibility of Cinemark paying <br />for the property, and the City reimbursing them as they develop each site. <br />Fahey asked why Cinemark is not proposing the theater at the Rice <br />StreedLittle Canada Road intersection. The City Administrator replied <br />that Cinemark wants the marquee to face the parking lot, and felt the <br />location proposed would allow this in addition to having some impact on <br />Rice Street. <br />Fahey felt the numbers should be worked both ways, with and without <br />Middle Street south of Little Canada Road. Fahey felt that the Cinemark <br />concept proposal shows a lot of value being removed that is not being <br />replaced with much additional value. <br />The Administrator indicated that Cinemark needs to tell the City what sort <br />of development will go where, and Cinemark may not have studied the <br />detail enough. The Administrator agreed that it seems there should be <br />more development density on the south piece. <br />Scalze questioned the need to take out the bank The Administrator <br />reported that Cinemark feels the bank site is currently underutilized. Also <br />