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F/rrs% Ill f g J} V i . The reports are in, the data has been collected, and we like what we see. We're excited about the I m uprthIuniti'cs it]: st? 1n ptuwn ater oo. " n There has already " re, r been close to $200 5 , ir) million ofinvest- ment in the core in the last ten years. i The City has been instrumental in driving and assisting many successful develop- ments and we are also taking an active role in new development. Currently, there is a conditional agreement with First Gulf Develop- ment Corporation to purchase the former Seagram and Waterloo Square parking lands from the City. MA The developer also has a conditional agreement with Canada Life to purchase the Waterloo Town Square Shopping Centre. First Gulf is pro- posing a mixed-use development including a LT-screen cinema complex, a hotel, Ll? million sq. ft. of retail and office space. condu- miniums, and increased parking. This proposal represents a total ofK30 million in investment. A City staffhave analyzed the pro- l posed development from First Gulfand created a'report that out- lines our views, which endorse the philosophy, direction and principles of the project with some additional recommendations. We will present this report to City Council on lune My " 28, 7 pm at First United Church at King and William Streets ' everyone is welcome to attend. At this meeting, Warcrloo Council will be making same critical decisions about our future. The first of two malor decisions is whether to .ippnwe any or all of the requested Amendments on the Sengram Lands. Secondly, “the land use amendments are approved, what conditions should be incorporated into a subsequent Development Agreement that will determine how and when City lands will be sold to First Gulf? Join us at council, Monday, Jun bright, Our fut The key amend- > V merits requested IIE, 7 by First Gulf irg'2rz, 1 refer to the pro- tttii posed 55,000 (tig square foot, " l3-screen Cinema. MII City staff have rec- i ummended approval ofthvs request for several reasons. The cinema will draw new activrty mm the cure as we" as complement other local commercial businesses. Studies have indicated that there is a strong market demand for cinema use and that traffic and parking facilities can accommodate this size ofa facihty. First (iulfhas designed a very Here'