Sunday, October 5, 2003

What's the Buzz?


Developer set to scrap theater deal

By Ken Alltucker
The Cincinnati Enquirer

Developer Rob Smyjunas wants to bring movies to Oakley, but he's ready to junk a deal with a national theater chain unless he gets money from City Hall.

If Cincinnati helped the developer pay for a parking garage and other site improvements, "we'd do the deal in a second," said Smyjunas, president of Vandercar Holdings Inc.

The theater would add to the retail-heavy Center of Cincinnati development built over parts of the old Cincinnati Milacron and Unova factories.

Smyjunas' lawyer says the city so far has refused to repay $5.5 million Vandercar has spent to pave new roads and other improvements. In a confidential memo to City Council, City Manager Valerie Lemmie pointed out the city doesn't have a formal development agreement with Vandercar. She also warned the project may not generate enough extra property tax dollars to pay for Vandercar's claim.




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