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City Council Goals for the Year 2000 <br />Project Name: Bayfair Mall Theater Complex <br />Project Description: Construction of a 16 -screen movie theater complex at the Bayfair Mall. <br />Vision/Opportunities: This project builds upon the Redevelopment Agency's efforts to <br />strengthen and renovate the Bayfair Mall, the City of San Leandro's single largest employer and <br />sales tax generator. Once the theater is constructed, other tenant opportunities will be viable for <br />the mall, including new restaurants and other specialty retailers. <br />Constraints: This project is market-driven and requires a partnership with the private sector. <br />Timeline: Winter 1999: Construction Begins <br />Fall 2000: Theater Opens for Business <br />Performance Indicators/Identifiable Milestones: Project milestones completed as identified in <br />above -referenced Timeline. <br />Fiscal Impacts: The construction of the theater will require approximately $10 million dollars in <br />private investment and is expected to generate an additional $32,000 per year in sales tax to the <br />City through concession sales. It is also expected to provide additional retail traffic for other <br />stores at Bayfair that will result in increased sales tax revenues. <br />g:\deptyohn\cm-eveltesponsa-alb-copy.doc 2 mv. 12/16/99 <br />