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MiNUT~S <br />CITY COUNCIL <br />MAY 27, 1998 <br />Wise indicated thlt the City and Cinemark will need to sit down with <br />existing tenants to detennine where to locate them and at what cost. This <br />work sliould start in some detail before Cinemark si~ns the lease <br />agreement. <br />Wise indicated that Cinemark cannot commit to locate anyone exactly <br />where they wanC at the price they are paying today or at some subsidized <br />rate. However, perha~s tl~e City can work out someYhing beneficial fbr <br />these teuants. Wise statetl that Cinemark is noC trying to displace anyone <br />or take zdvantage of him or her. A timefi~ame for existing businesses to <br />move out must also Ue established. Cinemark's concern would be that <br />tenants need to go when agreed upon, and indicated that Cinemark cannot <br />afford any slippage of this schedule as it relaCes to the openin~ of the <br />theater. There would have to be a schedule that is adhered to so that <br />everytl~ing will work 1nd the construction of or opening of the theater will <br />not be delayed. Wise repo~ted that it will take 6 to 8 months to building <br />the tl~eater. Typically they like to construct the parking lot first. <br />However, in order to accommodate relocation of existing businesses, <br />something coultl be worked out. <br />Wise pointed oat that there are a lot of tecl~nical detaits to be worked out. <br />However, Cine~narlc is fair lncl can be flexible, and they have the money <br />to do a project lil<e this. Wise indicated that tl~ere is uo reason the project <br />shouldn't move f'orward. The next step is to finalize 1nd execute the lease <br />agreement and the development agreemeut. <br />Wise indicated that Cinemark does not want to create problems in the <br />community. Theref'ore, if the City does not want to acquire and relocate <br />existing businesses, Cinemlrk should be informed ofthis prior to work <br />being started on the development plans. Wise indicated that from <br />Cinemark's perspective there is no reason why this project should not go <br />forward. <br />Fahey thaul<ed Mr. Wise for his preseutatio~t He reported that since the <br />last workshop the City has had some discussions with some of the <br />business owners. Pahey w1s confident that something could be worked <br />out with the liquor store, and the pawn shop has indicated a willin~ness to <br />look at relocation. The biggest fi-ustration has been the time frame and <br />delays in getting anytliing definite done. Fahey indicated that he hoped <br />there would be a draft lease agreement and development agreement <br />available within the ten day timeframe. <br />Tl~e City Administrntor indicated that the City has an outline of a <br />develo~ment a~reement tl~at will be revised based o~~ recent discussions <br />with Mr. Wise. Wise indicated that he has read this development <br />5 <br />