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MINUTES <br />CITY COUNCIL <br />JANUARY 28, 1998 <br />The Administrator asked the Council for their feelin~s on the theater <br />location. <br />Fahey felt the City needed to get the reconstruction ofLittle Canada Road <br />underway and completed in 1998. The City also needs to determine the <br />financial commitment that Cinemark is willing to make to the <br />redevelopment project. Fahey noted that Wise has indicated that Little <br />Canada Road should stay as it is and ~;o all the way throu~;h to Rice Street. <br />Fahey further sug~ested that a possibility might be to scale back the <br />number of screens the theater would have. <br />The Administrator pointed out that commencing with the Little Canada <br />Road improvement would preclude the possibility of the theater straddling <br />the Little Canada Road/Rice Street intersection. <br />Pedersen agreed that locating the theater west of The Mayfield will impact <br />that property, but pointed out that it would be visible from Rice Street, and <br />there would be no activity at the back of the theater that would be visible <br />from The Mayfield. <br />Morelan stated that he could live with the theater west of The Mayfield, <br />but that location was not preferable. <br />Fahey asked if there was some reason the reconstruction of Little Canada <br />Road should not proceed. The Administrator replied that the only reason <br />would be if the theater were located across the intersection. Pedersen <br />suggested that the Administrator clarify with Wise that this location was <br />noC acceptable to them. Morelan pointed out that the location may be <br />acceptableto anothertheater. <br />Fahey pointed out that Wise needs to see the numbers. Fahey felt the City <br />should indicated that it will provide the maximum increment possible, but <br />requires a safety net. The property in question is a lot of acreage to put <br />under a developer's control without a guarantee. Wise has already <br />indicated that some safety net may be doable. <br />Scalze asked why the land south of Little Canada Road was needed. <br />Pedersen replied that Wise indicated that the property to the south should <br />be included for the amenities and draw to the area. Fahey reported that <br />Wise indicated that he must show the parking on the entire development as <br />part of the theater package. <br />The Administrator suggested that he and Fifield fine-tune the financial <br />analysis and inform Wise of the $5.78 per square foot based on the 3.0% <br />tax capacity rate. Cinemark would be expected to front-end the case for <br />6 <br />