pages: CityCouncil/2006-07-26.pdf, 9
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CityCouncil | 2006-07-26 | 9 | The Development Services Director stated concerns need to be reiterated regarding a smaller project; ground rent and revenue would be reduced. Councilmember/Commissioner deHaan stated the project cost could be reduced by $3 million to $4 million with a five-screen theater and a five-level parking garage the equation would be changed minimally; stated Councilmember/Commissior Daysog requested that options be reviewed. Vice Mayor/Commissioner Gilmore stated the City would not need to contribute approximately $2 million if an operator would not operate the Historic Theater and provide the maintenance; the maintenance cost would come out of the General Fund and would have no cap. Councilmember/Commissioner Matarrese stated that he looks at the alternatives as fall backs; he is pleased that the theater has been acquired; concurred with Councilmember/Commissioner Daysog regarding restoring the Historic Theater as much as possible; stated the Historic Theater is a civic treasure; he is nervous about construction in a historic building and the contingency dropping from 15% to 13%; he has some comfort in that the value engineering process lessens the risk of the 2% contingency reduction; he is interested in what other funds might be available to provide more comfort; the main cost of the project is the Historic Theater; he is willing to support the staff recommendation. Vice Mayor/Commissioner Gilmore stated the City does not own the Elks' parking garage or the U.S. Bank parking site; the City has not discussed acquiring either site with the property owners. parcel costs go up once the City expresses interest in purchasing a parcel; construction costs are escalating the City would be running the risk of not having dollars in place to acquire the property, going through the design review process, and building a parking structure on either site. Mayor/Chai: Johnson stated other funding sources should be reviewed in the event that extra costs are incurred; concurred with louncilmembers/Commissioners Daysog and Matarrese regarding restoring the Historic Theater to the greatest extent that the City can afford; stated the City needs to be prepared for possible extra costs before starting the parking structure; she was happy to see that the City of Oakland was going forward with the restoration of the Fox Theater; the restoration does not appear to be a theater Special Joint Meeting Alameda City Council and 9 Community Improvement Commission July 26, 2006 | CityCouncil/2006-07-26.pdf |