pages: CityCouncil/2005-08-16.pdf, 20
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CityCouncil | 2005-08-16 | 20 | non-profit. Councilmember Matarrese stated the comparison [of rent with brand new theater ] is not fair. Councilmember Daysog stated that there is a fair comparison because people are going to walk into what amounts to a brand new historically restored theater. Councilmember Matarrese stated the building being historically restored makes a difference. Councilmember Daysog stated the historic restoration of the theater is on the City's dime. Councilmember Matarrese stated the City would own the building. Councilmember Daysog stated the City should charge a rent that is at least as close to fair market as possible. The Development Services Director stated that the developer would be happy to lease at $1.35 per square foot if the City wanted to build the cinemas. Councilmember deHaan stated the impact of the project on the downtown district is the real drive; that he cannot place a dollar figure on how the project will improve the environment and make the area more viable; catalyst projects are built to make things happen; Park Street has a new vitality in spite of the City; John Knowles was honored tonight; without real public funding, Mr. Knowles set a standard of small, unique stores; 70% of the merchants in stores ten years are gone because the City did not set up an environment to retain businesses. Councilmember Matarrese stated John Knowles project was not done in spite of the City and with no public dollars because the Redevelopment Manager's time was paid by the City's redevelopment agency part of the project's value is that the City is getting first run movies for $0.40 per square foot and people will spend money in town, rather than elsewhere. Councilmember Daysog stated that said value could also be realized at $1.10 per square foot. Councilmember Matarrese stated financial questions are outside whether or not the Council should uphold the Planning Board's decision, which is about design. Regular Meeting Alameda City Council 20 August 16, 2005 | CityCouncil/2005-08-16.pdf |