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1 REGULAR COUNCIL MEETING <br /> 2 AUGUST 25, 1992 <br /> 41 PAGE 9 <br /> 5 <br /> 6 expected. He is concerned that there may not be enough revenue <br /> 7 generated to pay the bond debt . He also noted examples of <br /> 8 "stand alone" CUB stores where adjacent businesses did not <br /> 9 prosper as is being expected in the Apache Mall complex area. <br /> 10 <br /> 11 He requested the status of the CUB Store on 18th and Central <br /> 12 Avenues . The CUB Store representative responded that two <br /> 13 stores may yet be built but this is not certain. The resident <br /> 14 inquired if staff had done any studies on the impact a store <br /> 15 on 18th and Central Avenues may have on the proposed Apache <br /> 16 Mall store.. <br /> 17 <br /> 18 The resident also requested an explanation of the security of <br /> 19 the general obligation bonds and the general revenue bonds . <br /> 20 The bond counsel addressed this inquiry. <br /> 21 <br /> 22 The resident suggested that consideration should be given to <br /> 23 locating City Hall and the Community Services offices in <br /> 24 Apache Mall . He doubts the viability of this project and is <br /> 25 concerned about the future of the St . Anthony Shopping Center <br /> 26 if this project is approved. <br /> 27 <br /> Rod Johnson, representing the management firm for the St . <br /> 'Anthony Shopping Center, stated he has some concerns regarding' <br /> 30 this project . He is not convinced that the tax increment fund <br /> 31 district is being established according to the requirements . <br /> 32 The potential impact of this project on the St . Anthony <br /> 33 Shopping Center as well as the south end development of the <br /> 34 City is also of concern. He noted that if the Town and Country <br /> 35 grocery store were to close there would be a direct impact on <br /> 36 the shopping center. Some tenant leases are tied into this <br /> 37 store remaining open. <br /> 38 <br /> 39 Mr. Johnson stated that in 1987 the management of the St . <br /> 40 Anthony Shopping Center approached the City requesting <br /> 41 assistance to improve the center and to give it a facelift . At <br /> 42 that time they were advised that the shopping center did not <br /> 43 qualify as a tax increment district . <br /> 44 <br /> 45 A pool of funds remaining from another project by this <br /> 46 management firm was used to do the facelift , which included a <br /> 47 new roof , signage, painting and correcting of deficiencies . <br /> 48 Mr. Johnson suggested this is an issue of fairness . <br /> 49 <br /> 50 The City Manager recalled that the request for establishment <br />