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tltr's share ttf unlown develonmem costs won’t cause lax increase, says Tlhtterhttt't can Waterloo's chlel administrative ofhcer says my property taxes should not go up desput the fact Waterloo could soon spend up to $175 moon m uptown redevelop mem. Tom Stockte said last Frrday the cuy's ponton to help finance the construction of two parking garages, one 750-space strut- ture on the city-owned lurmct beagram lands and one 1250-space structure on the current Waterloo Town Square properly. could go up as high as $15 mtllton. Ftrst Gulf Development Corporation of MISSIS- sauga, which IS currently hoping to rede, velop 17 acres m the heart of Waterluo's uptown, would pay the other 515 mtllton for the garages, Stoclue said, First Gulf IS currently planmng to bu/d a 12-screen cmema complex, a ISO-EDU- room hotel and a l60,000-square-foot department store m the heart of Waterloo by 2006. Waterloo council will be voting on whether the zoning on the former Sea- gram property IS appropriate for the urn- ema complex June 28, "They come in with these wonderful anchor tenants and these national chains and bus:- ness booms for awhile," he said. "And then it peters out. And you're left with a shell that nobody wants to occupy And local businesses have been dre ven out by the use m rents cre- ated with that development." km Square development HI downtown Kitchener. lllllnwn develonmenl (Continued from page 3) Paul Gellady. the co-owncr of uptowrt's Twelfth Night Music Shoppe. agreed with Erion in a recent Interview. "lt's my fear that what's gomg to happen is that wuh the stores (First Gulf) IS gmng to bong in here - as 1hey're domg that the price of store and lease space and stuff in uptown Waterloo ps gmng to go way up," Gcllatly said, “It's going Io put small busmesr men - you know, mom and pop sort of stores - out of busmess because they can't afford those kind of rents." And Eileen Grogan, the owner of uplown's Eating Well Organically, sud in a recent mtervuew if First Gulf does replace the current Waterloo Town Square surface parking with parking garage parking, her business wrll defmnely sur fer. Grogan worked 17 years m When lisked if the City would have to 1t2httiiiiiiiiii Auto Bod Rlliii'i'ili Complete Collision and Refinishing Service 430 Albert Street. Waterloo il8l Tim Gardner t Ivomdt. Stall downtown Kilchener before movmg In uptown Waterloo and saw Kuchener's Market Square and ng Value Centre in their prime, as they started to decline and as other nearby businesses stared to move out, "People will not use parking garages." she said. "if they don't have surface parking, people will not come to my store That's the bottom line for me. And thas devcloprnent doesnt have any surface park- mg." Although the 150 people who attended [ast Wednesday's meeting at uptown's First United Church appeared to be against the development, the City of Waterloo's director of development services, Greg Romamck. spoke In them In favour of the proposal. City staff are recommending court- ml approve First Gulls zone change apphcation at council's June 28 meeting, “I thok there arc Issues here that ovolve us as a mmmumly having lo look at things and take some chances and do what wc thmk IS nght," Romanick sand "And so I stand before you lonlghl and I say thrs IS what I believe IS rlghl â€" 100 per cent." contrrbute other money to thy develop- ment, Moth: sud my stall currently (Sly mate the Lily wrll have to pay approximately another $2 5 mllllon for environmental cleanups. public space work and road work associated wnh the prujea However he sard he was confident crly taxpayers would not be faced wrlh Increased property taxes because of the major expense "We have $6 Imllmn m our capital bud- get for a parking structure," titockue snd "It‘s riot for he, year, tt's m the year 2.000 that weve Idenuhcd u And we wdl have a $1 5 nikon profit for the sale of the lands (the former Seagram property and the Uly- owned Waterloo Town Aware parking lots to Frrst Gulf) So we've got 575 mulllon 'B Stoclue also said as the proposed devel- opment goes ahead. the new properties ssnll generate new tax revenue for the my whlch It will use to finance lis costs for the development For example, a recent economic benefns study commissioned by First Gulf sod once the new development was com- pleted, someume around EON). u would generate an estimated annual $6,771,000 In new property taxes: Tuition paid try end of June $550 paid by end of July $575 paid by end of August $600 Tuition for a student attending 3 of the 4 weeks of summer school will be reduced by $50.00. No students will be accepted for less than three weeks. Arrangements can be made for out of town students to attend full days to: two weeks. As oi August 1, the total tuition is nonrefundable 4- Week, Full Day Program Available - Academics and Golf August Golf School - combine your halt-day, August schooling at St, Jude's with a halt-day, tour week golf program at the Waterloo Golf Academy. Programs are offered both in the mornings and afternoons for our students. Tumon June-$450. July-S475, Aug-$500 Due to previous year's early enrolment actwrty, registrations accepted by internet or In per- son only at wwwstjudescom or at the school. who are bored in the month of August and don't know what to do with themselves; who want an educational advantage over other students who would benefit from an academic head start to the coming new school year: who learn better in a teacher directed learning environment; who lose some skills over the summer and get oft to a slow start in a new school year; who have birthdays later in the year and are younger than many children in their class: who are making the difficult jump into grade 4, or into senior public, or into grade 9; who have completed their grade 9 and are now facing the challenges of Advanced credits; who need a little extra help with Reading, Writing, Spelling, Phonics, andlor Arithmetic: who could use a good dose of academic self confidence, Head-Start School begins the first Tuesday after the long weekend at the beginning of August and runs for four weeks, halt a day, five days a week. Grades 1 and 2, and grades 5 and 6 come in the mornings from 9 am to noon. Grades 3 and 4, and grades 7, 8, and 9 come in the afternoon from 1 pm to 4 pm. St. Jude's Private Academic School 419 Phillip Street, Waterloo . August Head-Start, School However of that new In revenue, the clly would only rem-Ive an annual SI 093.001! the report said And because the full development wouldnt be complete unul close to 2006, the my wouldn't be able to get us lull share of the estimated tax revenue until that time "We're actually luoklng at some very Innovalwe ways to fanaace the overall pro- Ject." he sad However blockle sad the my was look- mg mlu other ways to lmance the project whO again would not allect my taxpay- "We're lookong a1 a financing pannet who wall fund the project at the front end And then we would pay for u over a long penod of [me lhmugh a lease v. Stockie wouldnt say last Friday who the, "financing partner' was. but sod serum city officuls had only met With ths group for the first time last Thursday. "Were Just m the early stages of evalua- mg those options," he said. "And we're obviously proceeding lo get more informs tion." . He also sard any plans the city had regarding Gancmg the project were sub- Iec1 to change, for students in grades 1, 2, 3, 4, 5, 6, 7, 8, and 9 888-6620