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The entity before you is Western Innisfree Ventures LLC, the entity given the Request for Proposal and now accepted as the developer. There is a 50-50 relationship between Western and Innisfree. Mr. Irmer stated he has taken the lead on some issues, mostly day to day issues, and Brad Blake has taken the lead on working with financial resources, leasing and working with major tenants. 35. What are the anchor stores? As expressed earlier, it is too early in the program to connect to any specific tenant. Until there is a transaction between the City and developer, it is premature to speak to specific people about a specific location, style, design or scope of project. Both Mr. Irmer and Mr. Blake have been associated with the International Council of Shopping Centers, leased millions of square feet of retail space and as such have friendly tenants they talk with. Any talks will continue on an informal basis until there is a commitment on both sides to go forward with the project. Two anchor tenants are in the plan, one located at Middlefield and Jefferson and the other at the no. 1 comer at Broadway and Jefferson, with the theatre anchor at Broadway and Middlefield. Visualizing the site, every comer is anchored. In the site plan, the middle block of Middlefield creates a tenant interest that plays from Mezes Plaza, coming across the railroad tracks from Sequoia Station into a pedestrian friendly concourse that leads one in both eye and foot into the centerpiece of retail and theatre activity. The vision is for two significant tablecloth restaurants, not a number of fast food opportunities. They will most likely come up and down the streets as called for, but that particular block is a significant block with national tenants of 20,000-25,000 square feet in size. 36. ARC Member Howard stated that some complaints from current businesses in the area are that the developer has not yet spoken to them regarding their remaining in the site area. Is it not true that you are legally precluded from going to them until there is some form of agreement? Yes, until there is a development agreement that is very clear what the transaction includes, caution must be observed. 37. Council Member Pierce asked, should there be an agreement, would there be an effort made to do something to link with the existing merchants in the area for more cohesion? There is currently a downtown merchants association. A more formalized merchants association would not be found in a community shopping center for obvious reasons. Many people are independent retailers and do not want to lock into expensive merchants associations or commitments that a larger retailer may encumber the smaller retailer with. Most likely this retail opportunity will want to become a part of the greater downtown retail business and their association. JOINT ADJOURNED REGULAR COUNCIL MEETING JANUARY 8, 2001 MINUTES PAGE 15 MINUTES Book No.58 Page NO. 311