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RUR WHEREAS, the City Council and Amcon St. Anthony, LLC ("Amcon") entered into a development agreement dated November 3, 2003, for the area known as St. Anthony Marketplace (the "Development Agreement"); and WHEREAS, the Development Agreement obligated Amcon to construct a 6000 square foot restaurant on a particular out lot with a lease commencement date not later than September 1, 2004; and WHEREAS, in .lune 2005, Amcon requested an amendment to the Development Agreement changing and reducing the 6000 square foot restaurant on the out lot to a 4500 square foot retail center, and a payment of $150,000 in lieu of lost future property tax revenue, which request was denied by the City Council; and WHEREAS, on August 1.6, 2005, Amcon presented to the planning commission a plan with a 4500 square foot restaurant on the out lot instead of the proposed 6000 square foot restaurant; and WHEREAS, Amcon has further requested a Development Agreement amendment regarding the 4500 square foot restaurant; and WHEREAS, construction of the restaurant is proposed to commence late summer/early fall 2005; and WHEREAS; this amendment would eliminate the City's recapture right if the building is not substantially complete within eight (8) months of approving this modification and issuance of a building permit; and WHEREAS, the proposed restaurant would lease space to St. Anthony Sports Boosters to house their pull tab operations. However, the operator would have the option to cancel the lease if the pull -tab operation is driving the ratio of food -to -liquor sales below the 50% minimum; and WHEREAS, the City Council determines that the proposed amendment terms are not in the City's best interests.