RDA Min 2001-01-08 Jnt - Laserfiche WebLink

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-- - ---- The department was contacted and is responsible for the maintenance of the parking structure. The costs were actually those used for the parking structure on Marshall Street. City Manager clarified that the $1,500.00 per year is for elevator maintenance only and $42,000.00 for other maintenance. Roberta Mundie, of Mundie and Associates, reported the costs are actually estimated much higher at approximately $200,000.00 per year. Joe Syufy, Century Theatres, responded to the following question. 25. A request to break out the demographics into age groups was requested. Mr. Syufy apologized stating that data of that nature is not collected. The only data collected pertains to ticket prices, that being how many child, adult or senior tickets are sold. He stated 5-6% of tickets sold are to children (12 and under), the same to seniors and the balance to adults. Bargain matinees are not included because the ticket prices are all the same. Tim Kelly, of Keyser Marston Associates, responded to one comment. 26. The City is giving land to the developer in exchange for a garage estimated to cost $20,000,000.00, which will generate revenue of $220,100.00 a year. This is slightly better than a 1 % return on investment per year to the City, hardly a good deal. He stated the comment is not based upon a correct interpretation of the proposed agreement which is that the $20,000,000.00 is not a City or Agency expense. It is an expense being funded by the private developer; however, the City/Agency will own the garage. The cost to the Agency to get the $20,000,000.00 from the developer is that of conveying two parcels of substantially less value, approximately one quarter less ofthe value. The cost to the Agency is substantially less than $20,000,000.00. The return to the Agency, the $220,000.00, is partly reflective of the City's policy towards parking charges. Roberta Mundie, Mundie and Associates, the consultant that prepared the economic report for the retail/cinema proposal responded to the following questions. 27. The continuing success ofthe other cinema projects studied in the economic report was questioned. The economic report discusses the number of cinema projects in other communities' downtowns and reviews their record. As the report mentions, the original research for those reviews was undertaken some time ago, but this fall was updated again with staff and/or project representatives in each one of the cities of Berkeley, Oakland, Concord, JOINT ADJOURNED REGULAR COUNCIL MEETING JANUARY 8, 2001 MINUTES PAGE 12 MINUTES Book No.58 Page NO. 308