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Page 2 . <br /> created with building renovation projected between $400-600,000 . Approximately <br /> 21,000 square feet is presently occupied of the 70, 000 square feet available. <br /> Councilman Braboy noted that she had reviewed both petitions and the <br /> attachments and met with the staff of Redevelopment and recommended both <br /> resolutions favorably. She also noted recalling several "fond memories" of <br /> the Pal-ais Royale. <br /> The Council Attorney noted that the Council was dealing with <br /> substitute versions of both resolutions since the tax abatement being considered <br /> is for real property rather than personal property. She noted that both <br /> parcels are properly zoned and both fall within the central downtown urban <br /> renewal area. <br /> Following further discussion by the Committee, Councilman Beck made a <br /> motion seconded by Councilman Serge that the substitute versions of Resolutions <br /> 9C and 9D go to Council favorably. The motion passed unanimously. <br /> Councilman Braboy then recommended that due to the lateness of the <br /> hour that the presentation on the new guidelines for Community Development <br /> money be given at another time. <br /> There being no further business to come before the Committee the <br /> meeting was adjourned at 5 :25 p.m. <br /> Respectfully submitted, <br /> Eugenia Braboy <br />