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To give up the six-year fight to build the retail development. which would feature a 105,000- square-foot Wal-Mart store slated to open sometime in 2004. the Uptown BIA and the city won some major concessions on the size of the project and the Poten- The city would also have to extend water and sewer service to the site, just across the border from Waterloo next to the St. Jacob's Farmers Market. Waterloo city council voted against provid- ing that service in 1998 to protect core merchants. Part of the condition of the set- tlement will have the uptown busi- ness group, which partnered with the City of Waterloo to fight the pros Nttfr posed First Profes- sional develop- on" ment, give up their mm combined chal- lenge of the King to m Street North and ttttat. Highway 86loca. In tion. That settle- m ment would be submitted to the can: Ontario Municipal -lefl Board, which is BIA cl slated to hear the developer's appeal at the start of November, eliminating one of the major hurdles remaining for the project still opposed by some resi» dent's groups in Elmira. City council also unanimously endorsed the settlement at its meeting Monday night, arguing that there was little chance Water- loo could win the fight against the American retailing giant. Members of the Waterloo Uptown Business Improve- ment Association reluctantly accepted the inevitable Monday morning after working out a potential settlement with the developer of a new Wal-Mart store on the outskirts of Woolwich town- ship. BIA gives uptight to Still] 1lllttll-lillttrt Members and city to share $1 .5-milli0n settlement WATERLOQLWHRONICLE Br Boa mec Chronicle stag an. I _ "Minuteman tttttttttttttfill-tttto many mously In addition to the size and stag- t at its ing restrictions. the BIA and city aguing also won concessions on the type Water- of retail that will be built in the inst the development. Apparel retailwill be limited to 40,000 square feet. while the set- service commercial space will be Tt busi- limited to 60.000 square feet. ad with The other 100,000 square feet of retail space will be “We're not 3 held to the mini- mum unit Sizes my m agreed to, and the ItrNttttttttttt [rm agreement makes sure there will be I “at: m m few small units that w In "am will directly com- ete with uptown me they fetailers. - Jeff Zavita BM chairman Under the municipal act, the BIA can't accept a direct payment from the developer so the city will set up a reserve fund for the group. Money will be released to the BIA for promotion, marketing and development of the core with itttt." The agreement also comes with a avitz financial settle. irman ment of $1.5 mil, lion which will be paid over two years once the OMB approves the project. More than $300,000 of that settlement will go to pay legal costs already accrued by the city and the BIA in their OMB battle. Once the legal costs are Cov- ered, that will leave $1.2 million to be split between the city and the BIA, with 58 per cent going to the city and 42 per cent going to the uptown business group. The development will be limit- ed to 305,000 square feet, with no retail space being under 5,000 square feet, preventing direct competition with anchor stores in the core. The first phase of the pm- ject will be 230,000 square feet, with the remaining 75,000 being built a year later if the first phase of the project has reached 100 per cent occupancy. rial staging of the development. WEDNESDAY, SEPTEMBER ll, 2002 Continued on page 4 Serving you! community since 1856 Lauren Dowdell, a first-year Universit? of vtratertoo student. got into the spirit of Orientation Week Friday by climbing a rubber rock wall. WATERLOO, ONTARIO A step up SI INCLUDING GST ”Wm I { WHAT'S H INSIDE Icanada.coml You said it Classified East Indian Community raises funds for regional cancer cen tre. Viewpoint Students celebrate opening of Lester B. Pearson school. Saab or Kitchener Waterloo 663 Victoria St. N, 744-5811 Sandal's Resort 'Sebcted Distribution Page 10 15