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First Gulf _ keeps || tight lip | on plans ! r[‘he First Gulf Development Corâ€" poration‘s new plans to renovate and redevelop Waterloo Town Square includes demolishing half of the mall and replacing it with a mixâ€" ture of storeâ€"front retail and residenâ€" tial construction. It‘s a much different plan that the Uptown Commons model the Missisâ€" sauga development company once proposed for the site, which formally died on paper in the summer of 2001. The renovation and redevelopâ€" ment work on a scaledâ€"down version of that plan began in earnest last year on the 20,000 squareâ€"feet of streetâ€" front retail north of the railway track. Starting at 15 King St. S., a former bingo parlour and the Pier 1 Imports store were torn down and replaced with a new building which now feaâ€" tures the Rude Native restaurant and lounge, the Running Room sports apparel store, bonnie togs children‘s clothing store and a new branch of TD Canada Trust. With construction done on that side of the train tracks, work began last year on updating the north end of the mall by redesigning the entrances, changing the flooring and lighting, and bringing in new anchor tenants like Valuâ€"mart, a Loblaws concept store. and Lucy‘s Seafood, which replaced the Texas Barâ€"Bâ€"Q. Lucy‘s Seafood. a family restaurant, opens its doors this week, and First Gulf and five Toronto retailers are hosting an exotic furniture sale to bring more highâ€"end visitors back to the mall. In keeping with reinvention of the mall as a destination shopping spot, First Gulf officials told the Mississauga News‘ Business Times that the south end of the mall will be demolished and replaced with a "new hip street front" that will feature a mixture of streetâ€"level retail with residential livâ€" ing above. Demolition of the south end of the mall could begin by the end of the vear. In a plan released to the Business WATERLOO CHRONICLE ,‘,\"I\T: By Bos VrBanac Chronicle Staff =RLAON PHUMR C Continued on page 5 Waterioo council approves 10.4 per cent tax increase Homenwners in Waterloo will see a 10.4 per cent tax increase this year, the result of the approved city budget last Saturâ€" day. This means the average houseâ€" hold will pay an additional $67 on their city tax bills, based on the average household value of $163,000. "This marks an end to a very difficult budget session for the City of Waterloo," said Mayor Herb Epp. â€"The operating budget was approved at just over $38.6 milâ€" lion. WEDNESDAY, MAY 5, 2004 Wednesday afternoon Bailey (left) and Brooke Bowman, twoâ€"yearâ€"old twins, had a play date on the swings at Waterloo Park last Coun. Jan d‘Ailly, chair of By AimEe WiLson For The Chronicle Serving your community since 1856 WATERLOO, ONTARIO finance, outlined council‘s focus in his opening remarks, which was to put the standing financial presâ€" sures in order so they could conâ€" centrate on future issues. "After this budget, when we do our business plans and budgets in the next few years, we will be able to deal with the issues ahead of us, "This marks an end to a very difficult budget session for the City of Waterloo." Swingin‘ sisters â€" Herb Epp Waterloo mayor $1INCLUDING GST and not have to clean up a mess that was left behind," said d‘Ailly. With RIM Park being the prime concern, 5.1 per cent will be put towards the recreation facility and its operating costs. "Council has been able to meet all of its key objectives with this budget, and have the RIM Park financing and operating issues behind us," said d‘Ailly. The second largest chunk â€" 4.9 per cent â€" will be dedicated to the declining reserve levels. The forecasted tax increase for 2005 was approved at 6.42 per cent, with the 2006 increase comâ€" ing in at 4.05 per cent. _Council unanimously approved the 2004 capital budget at just over Continued on page 5 TAWNYA SWARTZENTRUGER PHOTO Viewpoint Arts Calendar Classified WCI Vikings can‘t take competition lightly. Letters Manulife Ride for Heart*. Pharmasave®, Blind Ambition®, City Parent* *Selected Distribution WHATS INSIDE INSERIS SPOR Page 23 21 11 10