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MINUT~S <br />CITY COUNCiL <br />MAY 27,1998 <br />Wise pointed out that there are two peak seasons for movie theaters, <br />summers and the period between Thlnksgiving and New Year's. Low <br />volumes typically occur iu January and February and in September and <br />OctoUer. Wise pointed out that the proposed site plan has parking for 864 <br />c1rs, and the theater is proposed to hlve 2,715 seats. Because movie start <br />times are staggered, it is felt that the parking wiil be adequate for this <br />many seats. <br />Wise pointed out that at the ]ast workshop it was reported that Cinemark's <br />board of directors had approved the theater site. Wise indicated that the <br />board of directors does not act on these issues, but rather a real estate <br />committee. The Little Canada site h1s been approved from a real estate <br />point of view. Cinemarl< has run a performa on the project, so it know the <br />project worlcs. What is needed at this point is for Cinemark and the City <br />to enter into a lease agreement and a development agreement These <br />a~reements will set the time fi~ame, tlie obli~ations of each party, and <br />allows Cinemark 2o tell people in distribution that there will be a theater in <br />Little Canada. Wise indicated that once these agreements are finalized, <br />the next step will be to finalize the site plan and get building plans <br />a~proved and permitted. Appraisal work will have to be finalized and <br />acquisitions made, and other redevelopment will have to move into the <br />more detailed planning phase. <br />Wise estimated that it will take approximately 8 months to build a theater <br />ti~o~n start Yo finish. He 11so indicated that Cinemark opens their theaters <br />in eitl~er M1y/J~me or November/December. Therefore, it is ]ikely that the <br />theater would opei~ in November of 1999. <br />Wise pointed out that the City's obligations will be~in when it signs the <br />development a3reement. The City will have to approve a zoning and site <br />}~lan, grant the necessary permits, and acquire }~roperty. If Cinemark is <br />granted a building permit, it will build the building and pay rent to the <br />City. Public improvements will l~ave to meet the needs of both Cinemark <br />and tlle City. There will be soine demoliYion and envirorunental <br />assessment required. Wise indicated that Cinemark would not want to <br />Take ou tl~e liability that may result in environmental remediation. <br />With regard to existing businesses, Wise reported that they would work <br />with tlie bank, Ultimate Golf, and The Venetian Inn to relocate within the <br />redevelopment project if they so desire. The pawn shop and liquor store <br />wiil need to be relocated off-site. Conditions for relocating tenants would <br />need to be resolvetl during the development agreement process. Wise <br />a~ain pointed ouY that Dr. Allen's office, 93 W. Little Canada Road, and <br />the bowlin~ alley would not be a p~rt of tl~e redevelopment project at this <br />time. It may be that 93 W. Little Canada Road could come into the <br />redevelopment project on a private basis. <br />4 <br />