Finishing touches for Park Ave. projects
August 25, 2004
A slew of Park Avenue redevelopment projects commissioned by South Lake Tahoe appears to be wrapping up.
First, the $10 million Heavenly Village Cinema is on track to be completed by Thanksgiving, incoming Atascadero theater operator John Roush said this week. TransSierra Investments will operate stores in the 35,000-square-foot, 8-plex structure.
Alongside the cinema, a $390,000 project is under way on the sidewalks and the ice rink.
Crews are installing sidewalks and landscaping along Heavenly Village Way from Bellamy Court to the bus turnout and at the theater entrance. At the rink, a snowmelt system, retaining wall and stadium seating will go in.
These improvements – which were approved last week by the South Tahoe Redevelopment Agency – represent the finishing touches on the project by the city.
“We’ve got the project done now,” Mayor Tom Davis said Tuesday.
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Responding to critics who questioned why the agency would approve a cost overrun of $230,000 in the wake of a $7 million allocation borrowed against the general fund, Davis said the alternative of not completing the project would be “like running a car without tires.”
About $2 million from a redevelopment refinancing plan slated for October is earmarked to pay back the general fund, which is highlighted in a written, legal agreement between the two agencies.
Like other areas, the city has undergone a crash course in the complexities of major redevelopment jobs like this one near Stateline. The $250 million project has tallied at least $12 million alone in eminent domain acquisitions and legal settlements by the agency. The remaining case was settled with the former Paul Kennedy’s Steakhouse. The settlement calls for $200,000 paid by Aug. 1; $100,000 by Dec. 1 and $500,000 issued in $50,000 increments over the next 10 years starting June 30, 2005.
– Susan Wood can be reached at (530) 542-8009 or via e-mail at firstname.lastname@example.org