pages: CityCouncil/2006-07-26.pdf, 10
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CityCouncil | 2006-07-26 | 10 | project; the City of Oakland is contributing $57 million to renovate the Fox Theater; she is happy that the Historic Theater is being renovated as a theater and is owned by the City; her personal preference would be to restore the Historic Theater as a single- screen theater Council needs to be responsible for how much public money is spent; she would support a motion to support the staff recommendation. Vice Mayor/Commissioner Gilmore stated there is an "Other Costs" line item for the parking garage and theater rehabilitation; the line item for the parking garage is over $1.4 million and over $1.8 million for the theater; a cost breakdown was provided for both line items; the document is available as a public document. Mayor/Chair Johnson inquired whether phasing is planned for the theater restoration. The Development Services Director responded the construction project would start within the next 30-45 days; stated the Historic Theater construction will be the most time consuming; the plan would be to do the garage and then the Historic Theater; the Cineplex would start two to three months later; the entire project should be completed within a year and a half; a $3 million grant application was submitted to the State for historic preservation money; high marks were received except in one category; she does not think that one evaluator understood the financial statement the grant would be resubmitted and she is optimistic about receiving the grant. Councilmember/Commissioner Daysog stated that the point of his failed motion was to further analyze Scheme 2; costs are involved with a stand alone, three-screer theater. cautioned colleagues from using scare tactics such as General Fund dollars subsidizing the project stated the Golf Complex, ferry system, electric and cable systems are all self-funding enterprises; revenue would be generated through retail which could help towards running the theater. options need to be vetted. Vice Mayor/Commissioner Gilmore stated she brought up the General Fund because dollars coming from tax increment redevelopment funds cannot be used to pay maintenance costs; she did not intend her statement to be a scare tactic, but only to address how things work. Councilmember/Commissioner Daysog stated there are other revenue opportunities such as the retail square footage. Special Joint Meeting Alameda City Council and 10 Community Improvement Commission July 26, 2006 | CityCouncil/2006-07-26.pdf |