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Counci hnember Jeffi'ey questione~ why the City Would not be able to use the land in Outlot ]g for <br />commercial use and sell it off as a revenue stream for the City. He stated there are some unique <br />opportunities for that space. <br /> <br />Mt'. Fegcs explained the original agreement desiggated the parking ramp as one super ramp, and <br />it is now split into two lots that take up more land that could have been sold. This agreement can <br />bc reviewed again to make sure it is fair. He noted there was also discussion about the City <br />competing with the private sector. <br /> <br />Councilmember Elvig indicated he agrees with Councilmember Jeffrey's concerns. The reason <br />this was looked at initially was to find a Way to Pay for the maintenance on the parking ramps. <br />He still maintains that is worth pursuing; He is very willing to go forward, but would like to <br />have that pursued. <br /> <br />Mr. Feges explained one of the reasons they entered into the idea of the cinema was that it really <br />is complimentary to the ramp and the revenue that~ could be generated is substantial. <br /> <br />City Administrator Non, nan noted staff would: recommend the site be ground-leased to a <br />professional cinema corporation. <br /> <br />Councihnember Strommen stated it is imPortant for the Council to have a discussion about the <br />cinema and use of this land, as they are getting into a slippery slope of the City running the core <br />ol' Town Center. ~ <br /> <br />Mt-. Lasher indicated LSA Design completed ,a project with the city of Apple Valley that included <br />transit station and a movie theater. The city put together a ground lease with Carmike Cinemas <br />and Minnesota Valley Transit Authority to share~ the parking and help share costs with the two <br />entilies. Carmike Cinemas ended up bUying thei[ building, paid fee title, and the parking stayed <br />under the city's control. There are variable ways of how this type of situation could work. <br /> <br />Counci hncmber Strommen expressed concern that the City could be constrained in what it is able <br />to build d u e to the requirem ent in the Option Agreement not to create a remnant parcel. <br /> <br />M r. Feges commented this is a responsibility on bOth parties. <br /> <br />City Attorney Goodrich questioned if it would be feasible for a theater to purchase the land if the <br />City docs not want to ground-lease the Cinema s~te. <br /> <br />Mr. Fcgcs responded in the affirmative. He explained this option preserves the opportunity for <br />thc City; it docs not tie the City into anything. <br /> <br />Counci hncmber Elvig left the meeting at 9:28 p.m. <br /> <br />Parking Maintenance Agreement: <br />Mr. Lasher reviewed the Parking Maintenance Agreement. <br /> <br />City CoU-ncil Work SesSion/February 15, 2005 <br /> ~Page 5 of 6 <br /> <br /> <br />