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MINUTES <br />CITY COUNCIL <br />MARCH 4, 1998 <br />Fahey again pointed out that the City is not suce if the theater project will <br />move ahead or not. Fahey stated that he would condemn only if the City <br />coutd not come to terms with the existin~ businesses, but would prefer <br />reaching an agreement that both parties can be comfortable with. <br />The City Administrator stated that the Council has always had the <br />retention of existing businesses as a goal. The Administrator pointed out <br />that at this point the City does not have a signed development agreement, <br />and there are still a lot of ne~otiations and approvals needed. The City <br />will want the developer to work with the existing businesses. <br />Fahey pointed out that if redevelopment with the theater on the south side <br />of Little Canada Road does not work, the City can redirect its efforts to the <br />north side. <br />Lendway indicated that Tierney's preferences are first to stay in its present <br />location, and secondly, if relocation is necessary, to stay on Rice Street. <br />Tierney':s would also like input into the process. <br />Dick Boss, Tierney's Liquors, indicated that he was warm to the <br />redevelopment idea, but that Tierney's is not interested in sellin~. <br />However, if the project works, a Rice Street location can be <br />accommodated, and the business can be relocated within a reasonable <br />period of time, Tierney's would be willing to relocate. Boss pointed out <br />that Tierney's will have to have the right location, otherwise their business <br />is dead. Boss expressed concern that an appraisal of the property may not <br />reflect an acceptable purchase price. Boss indicated that the $3.00 per <br />square foot figure he has heard will not be acceptable. <br />Fahey pointed out that the City would not be buying the business, but only <br />the building and property. <br />Boss suggested that a 17-screen theater may be too large for the property <br />south of Little Canada Road, and sug~ested that a smaller theater may <br />work while still accommodatin~ the Tierney's location. <br />Joe Vitale, The Venetian Inn, indicated that their feeling is that if The <br />Venetian Inn wants to relocate within the City, the City would work with <br />them. Vitale indicated that he realizes The Venetian Inn may no longer be <br />on the corner of Little Canada Road and Rice Street. However, he does <br />not feel that the City will trying to boot their business out of the City. <br />Vitale indicated that he has not gotten too excited up to this point because <br />there is no developer as of yet. <br />