Liveblogging the City Council (from home) 2/9/2010

Hello everyone. I’m not going to venture out in the snow and try to find parking on a night that Bradley is playing ISU at the Civic Center. So, I’m going to snuggle up at home and listen to the council meeting on WCBU radio. As usual, I’ll be updating this post throughout the evening, so be sure to refresh often. Here’s the agenda:

PETITIONS, REMONSTRANCES & COMMUNICATIONS – CITY OF PEORIA UNFINISHED BUSINESS

(09-500) PUBLIC HEARING Regarding Proposed ANNEXATION of 9900 N. ALLEN ROAD (Temporary Address) (Continued from November 24, 2009).

Councilman Irving moves to open the public hearing, seconded by Van Auken.

  • Joyce Blumenshine: Has a few issues with the annexation — actually with the plan for the site. She asks that the annexation not be voted on tonight. Developer is trying to maximize density for the site to the detriment of the environment. It’s not consistent with the City’s ordinances, such as the stream buffer ordinance.
  • Kiersten Sheets: Lives in Marshall County, but is on the Sustainability Commission as well as a member of other environmental groups. She also is concerned about the site plan, not so much the annexation. She also takes issue with the storm-water management plan. Recommends a “low-impact development storm water ordinance.”

That’s it. No one else wishes to speak.

(09-501) Communication from the City Manager and Director of Planning and Growth Management with Recommendation from the Planning Commission to Adopt the Following:

A. RESOLUTION Approving the ANNEXATION AGREEMENT for Property Generally Located NORTHEAST of the ROCK ISLAND TRAIL (Parcel ID No. 09-31-251-004) EAST of ALLEN ROAD, SOUTH of BROMPTON COURT and Parcel ID No. 09-31-208-031, and WEST of Parcel ID No. 09-31-226-027; the Property Proposed for Annexation is Parcel ID No. 09-31-251-006, with a TEMPORARY ADDRESS of 9900 N. ALLEN ROAD, Located within One and One-Half Miles of the City of Peoria;

Councilman Irving makes several changes to the resolution in his motion, seconded by Turner. Councilman Sandberg is concerned about the proposed apartment complex. There is too much traffic in this area already, and this apartment complex adds 96 units which will make traffic even worse. He’s also concerned about the amount of dirt that they’re planning to move and the impact it will have on drainage. In the Comprehensive Plan, this is designated as a conservation area, and the developer wants to “shoehorn in” three significant buildings. Sandberg is okay with the proposed single family home on Brookshire. Motion passes 10-1; Sandberg voting no.

B. ORDINANCE ANNEXING TERRITORY Contiguous to the City of Peoria – 9900 N. ALLEN ROAD (Temporary Address).

Irving moves to approve, seconded by Turner; no discussion. Passes 10-1 (Sandberg).

(09-502) Communication from the City Manager and Director of Planning and Growth Management with Recommendation from the Zoning Commission and Staff to Adopt an ORDINANCE Rezoning Property Located in the 9900 BLOCK of ALLEN ROAD Upon Annexation from Class R3 (Single Family Residential) District to a Class R6 (Multi-Family Residential) District.

Irving moves to approve, seconded by Turner; no discussion. Motion passes 10-1 (Sandberg).

(09-503) Communication from the City Manager and Director of Planning and Growth Management with Recommendation from the Planning Commission and Staff to Adopt an ORDINANCE Approving the MULTI-FAMILY PLAN for Property Generally Located NORTHEAST of the ROCK ISLAND TRAIL (Parcel ID No. 09-31-251-004), EAST of ALLEN ROAD, SOUTH of BROMPTON COURT and Parcel ID No. 09-31-208-013, and WEST of Parcel ID No. 09-31-226-027, with the Property Identified as Parcel ID No. 09-31-251-006, with a TEMPORARY ADDRESS of 9900 N. ALLEN ROAD, with Conditions.

Irving moves to approve with some changes; seconded by Spain. Irving thanks the developer. Motion passes 10-1 (Sandberg).

ITEM NO. 1 CONSIDERATION OF CONSENT AGENDA ITEMS BY OMNIBUS VOTE, for the City of Peoria, with Recommendations as Outlined:

A. Communication from the City Manager and Police Chief Requesting Approval for the ANNUAL PURCHASE of FACTORY AMMUNITION for POLICE DUTY USE from KIESLER POLICE SUPPLY, INC., in the Amount of $28,992.32.

B. Communication from the City Manager and Police Chief Requesting Approval of a SOLE SOURCE PURCHASE of THREE POLICE CANINES, One with Specialty in Explosives Detection and Patrol Function and Two with Narcotics and Patrol Specialties from SOUTHERN POLICE CANINE, INC., in the Total Amount of $41,800.00, with Funds Coming from the Federal Asset Forfeiture Account.

C. Communication from the City Manager and Director of Public Works Requesting Approval to PURCHASE THREE (3) PICK-UP TRUCKS Through the State of Illinois Contract Bid Process for the PARK DISTRICT’S USE to Include TWO FORD F250 TWO-WHEEL DRIVE PICK-UP TRUCKS and ONE FORD F250 FOUR-WHEEL DRIVE PICK-UP from LANDMARK FORD in Springfield, Illinois, for ROUTINE REPLACEMENT, in the Amount of $63,000.00.

D. Communication from the City Manager and Director of Public Works Requesting Approval to PURCHASE TWO F550 SUPER DUTY TRUCKS, Fully Equipped with Dump Box, Snow Plow and Salt Spreaders from LANDMARK AUTOMOTIVE GROUP in Springfield, Illinois, in the Amount of $138,124.00, Utilizing the State Contract Bidding Process.

E. Communication from the City Manager and Director of Public Works Requesting Acceptance of the LOW BID of R. A. CULLINAN & SONS, INC. and Award the CONTRACT, in the Amount of $1,803,195.91, with Additional Authorization of $90,159.80 (5% for Contingencies) for the GLEN OAK SCHOOL IMPACT ZONE STREET IMPROVEMENTS for WISCONSIN, REPUBLIC, MARYLAND, and KANSAS STREETS.

F. Communication from the City Manager and Director of Public Works Requesting Acceptance of the LOW BID of ILLINOIS CIVIL CONTRACTORS, INC. and Award the CONTRACT, in the Amount of $1,373,739.95, with Extra Authorization of $68,687.00 (An Additional 5% for Contingencies) for the HOLLY HEDGES/DEVEREUX CHANNEL IMPROVEMENTS. (Refer to Item Nos. 08-615 and 09-430)

G. Communication from the City Manager and Director of Planning and Growth Management Requesting Approval of an AMENDMENT to the HAND UP DEVELOPMENT CORPORATION 2009 CHDO PROJECT SCOPE to Develop ONE NEW, SINGLE FAMILY, OWNER-OCCUPIED HOME Located at 522 W. WILLCOX AVENUE (Parcel ID No. 14-33-152-020) and CANCEL DEVELOPMENT of ONE NEW, SINGLE FAMILY, OWNER-OCCUPIED HOME Located in the 3400 BLOCK of SYLVAN LANE (Parcel ID No. 13-24-453-012). (Amends Item No. 09-450)

H. Communication from the City Manager Requesting Approval to FORBEAR on a LOAN to GLOBE ENERGY for 90 DAYS and Requesting Authorization for the City Manager to Execute the Necessary Documents. (Refer to Item No. 07-268)

I. Communication from the City Manager and Director of Public Works Requesting Approval to Execute a TWO-YEAR CONTRACT with INDUS LUBRICATING for OIL PRODUCTS used by the CITY’S FLEET MANAGEMENT DIVISION and FIRE GARAGE, as Outlined.

J. Communication from the City Manager and Director of Public Works Requesting Approval of a CONTRACT with FOTH INFRASTRUCTURE & ENVIRONMENT for 2010 ENGINEERING SERVICES for the PEORIA CITY/COUNTY LANDFILL, in the Amount of $376,000.00, as Recommended by the Peoria City/County Landfill Committee.

K. Communication from the City Manager and Director of Public Works Requesting Approval of a SEWER IMPROVEMENT AGREEMENT with the GREATER PEORIA SANITARY DISTRICT for the REPAIR of SEWERS, as a Part of the City of Peoria’s Sewer Rehabilitation (Design Area 1 Sewers, Manhole Rehabilitation Project 3), and Requesting Concurrence in the Award of the CONTRACT for the Work to MIDWEST TRENCHLESS SERVICES, in the Amount of $358,660.00.

L. Communication from the City Manager and Finance Director/Comptroller Requesting Adoption of an ORDINANCE ABATING the TAX Heretofore Levied to PAY SPECIAL SERVICE AREA TAXES on the RIVERWEST NEIGHBORHOOD (Formerly the Colonel John Warner Homes Development).

M. Communication from the City Manager and Finance Director/Comptroller Requesting Approval of an ORDINANCE Partially ABATING the TAX Heretofore LEVIED to PAY PRINCIPAL OF and INTEREST ON GENERAL OBLIGATION LIBRARY BONDS SERIES 2008A, in the Amount of $798,000.00.

N. Communication from the City Manager and Finance Director/Comptroller Requesting Approval of the ORDINANCE ABATING the TAX Heretofore LEVIED to PAY PRINCIPAL OF and INTEREST ON GENERAL OBLIGATION CORPORATE PURPOSE BONDS, of the City of Peoria,1998 SERIES C, 2002 SERIES A & B, 2003 SERIES A & B, 2004 SERIES B & C, 2005 SERIES A & B, 2007 SERIES A, and 2009 SERIES A.

O. Communication from the City Manager and Finance Director/Comptroller Requesting Adoption of an ORDINANCE Amending the CITY OF PEORIA BUDGET for FISCAL YEAR 2010 Relating to the OUTSTANDING ENCUMBRANCES as of DECEMBER 31, 2009, in the Amount of $6,481,002.00.

P. Communication from the City Manager Requesting Approval of the Following:

1. TRANSFER of PROPERTY Located at 720 E. PARK AVENUE to PEORIA AREA COMMUNITY EVENTS (P.A.C.E.) FOUNDATION for the Amount of $1.00, and Authorize the City Manager to Execute the Necessary Documents;

2. ADOPT an ORDINANCE VACATING a PORTION of LAKE VIEW AVENUE Approximately 315 FEET NORTHEAST of PERRY AVENUE.

Q. Communication from the City Manager and Corporation Counsel Requesting Approval of DATES for SCHEDULED EVENTS SPONSORED by PEORIA AREA COMMUNITY EVENTS, INC. (P.A.C.E.), Subject to Their Filing the Necessary Permits and Approval as Required by the Peoria City Code. Dates Scheduled are: Steamboat Festival – June 17 through 19, 2010; Taste of Peoria – August 11, 2010 (Rain Date: August 12, 2010); Labor Day Picnic – September 6, 2010; and RibFest & Chili Cookoff – October 1 and 2, 2010.

R. Communication from the City Manager and Corporation Counsel Requesting Approval of a SITE APPLICATION for a CLASS A (Tavern) LIQUOR LICENSE at 7719 N. UNIVERSITY, with Recommendation from the Liquor Commission to Approve.

S. Communication from the City Manager Regarding the PEORIA PARK DISTRICT FOURTH QUARTER 2009 REPORT of ACTIVITIES for the RIVERFRONT and GATEWAY BUILDING, with Recommendation to Receive and File.

T. Communication from the City Manager with Request to ACCEPT the PEORIA PARK DISTRICT RIVERFRONT PROGRAMMING WORK PROGRAM AND BUDGET REPORT for 2010.

U. REPORT of the CITY TREASURER PATRICK NICHTING for the MONTH of DECEMBER 2009, with Recommendation to Receive and File.

Item Q removed by Montelongo. Jacob abstaining on Q and R, removes item F. Motion to approve remaining items by Spain, seconded by Turner; passes unanimously.

  • Item F: Motion to approve Jacob; Spears seconds; passes unanimously.
  • Item Q: Montelongo moves to approve; Spain seconds; passes unanimously.

ITEM NO. 2 Communication from the City Manager Requesting Approval of the CITY OF PEORIA’S PORTION of the COMMUNITY LEGISLATIVE AGENDA Regarding FY2011 CONGRESSIONAL APPROPRIATION REQUESTS.

City Manager Scott Moore asks if staff can bring this item back at a later date so they can be discussed at next week’s policy session before submitting. Motion to defer by Van Auken; seconded by Riggenbach. Motion passes unanimously.

ITEM NO. 3 Communication from the City Manager and Corporation Counsel Requesting Approval of the MAIN CONSTRUCTION and DEVELOPMENT AGREEMENT with ILLINOIS-AMERICAN WATER COMPANY, and Requesting Authorization for the City Manager to Execute the Necessary Documents.

Irving moves to approve; seconded by Van Auken. Sandberg asks for clarification, that the City is not obligated to build water main extensions; it would be the developer’s responsibility. City attorney Randy Ray assures Sandberg that the City is not obligated. Motion passes 10-1 (Sandberg).

ITEM NO. 4 Communication from the City Manager and Director of Planning and Growth Management with Request to Concur with Either the Recommendation from the Zoning Commission to ADOPT or Concur with the Recommendation from the Staff to DENY the Following:

A. ORDINANCE Rezoning Property Located at 1717 W. GLEN AVENUE from the Present Class R3 (Single Family Residential) District to a Class O2 (Exclusive Office Park) District, with Conditions;

B. ORDINANCE Amending Ordinance No. 13,345, a Previous Use with Approval as Amended, for a SPECIAL USE in a Class O2 (Exclusive Office Park) District for an OFFICE DEVELOPMENT Commonly Known as the GLEN PARK PLACE OFFICE PARK to Add the Property Located at 1717 W. GLEN AVENUE and Allow for a BUILDING ADDITION and PARKING LOT for Property Located at 4909 N. GLEN PARK PLACE and 1717 W. GLEN AVENUE, with Conditions.

Councilman Spears moves to approve ordinance A; seconded by Van Auken; passes unanimously.

Spears moves to approve ordinance B; seconded by Riggenbach; passes unanimously.

ITEM NO. 5 Communication from the City Manager and Director of Planning and Growth Management with Request to Concur with Recommendations from the Historic Preservation Commission Contained within the ACTION PLAN to:

A. ADOPT an ORDINANCE Amending CHAPTER 16 of the Code of the City of Peoria Related to the DESIGNATION PROCESS and the CERTIFICATE of APPROPRIATENESS PROCESS;

B. APPROVE a PROCEDURAL CHANGE Related to HOUSING and DEMOLITION CASES; and

C. RECEIVE and FILE a COMMUNITY LIST of PROPERTY NOTED as WORTHY OF POTENTIAL HISTORIC LANDMARK STATUS and the LONG-TERM RECOMMENDATIONS.

Van Auken asks chair of Historic Preservation Commission, Robert Powers, to speak before she makes a motion. Powers gives a history of the ad hoc committee that worked on this council request. He also gave an explanation of the request, which is basically a restatement of what is written here. Van Auken thanks the ad hoc committee and compliments them.

Van Auken moves to approve item A; seconded by Montelongo. Sandberg also compliments the committee. However, he suggests a couple small amendments limiting the number of colors one can have on their house without having to get a certificate of appropriateness. Sandberg moves that Item A be deferred until May 11; seconded by Gulley. The reason is so neighborhood organizations and other stakeholders who live in historic districts have time to read and clearly understand the ordinance before final action is taken. Van Auken supports deferral. Motion passes unanimously.

Van Auken moves to approve item B; seconded by Spain. Jacob asks if this ordinance will unduly delay the process of demolishing other structures. Planning and Growth Director Landes answers: No. Inspections Director Kunski agrees. Motion passes unanimously.

Van Auken moves to receive and file item C; seconded by Gulley. The floor is opened to anyone who would like to address the council on this item.

  • Margaret Cousin: Reads a prepared speech about the virtues of historic preservation, complete with dramatic analogy about being a ball instead of a cube. Cue violins. (I’m sure she was sincere; I’m just jaded.)
  • Jim Bateman: Spoke off the cuff. Makes snide comment about the city losing a previous list that was also received and filed! (“No one can find it. I guess that’s what happens when you receive and file.” LOL!) For the most part he reiterated information already presented. He did explain that the list is a list of historic properties and includes properties that are already landmarked, properties in historic districts, and properties that could potentially be landmarked.
  • Roger Meyer: Member of Trinity Lutheran Church, speaking for the church. Requests removal of the church building (135 NE Randolph) because it’s a church building and changes to the sanctuary shouldn’t be subject to a secular body. Believes all churches on the list should be taken off the list.

Van Auken basically says in response to Mr. Meyer that they’re not going to take any properties off the list at this time.

Turner asks if merely being on the list will cause a hardship — i.e., will it make it difficult for property owners to sell properties that are on the list? Van Auken says no; preservation is economical and reusing properties is sustainable development. She also says the ordinance is “not as onerous as people think it is.” Sandberg agrees with Van Auken. “There’s a whole cadre of developers who will only invest in historic properties,” he says. “Historic preservation is not a negative in almost all cases.”

Sandberg would like to see historic properties put on the City’s website, not just received and filed. He’d like to see us “show off” our historic community.

Jacob asks if all areas of the community were included. Bateman says “we tried,” and says that there very well could be properties that they missed. He says he hopes the list will be a work in progress. The list is not exclusive and can have properties added to it. Jacob says that there is a perception among some developers that the historic preservation ordinance has been used as a weapon to stop some development; he wants to make sure property rights are preserved.

Spain is “conflicted on this issue.” He’s received calls from property owners who are concerned about their properties being on the list. Yet, he recognizes that the City Council asked for this list because of previous attempts to landmark properties at the eleventh hour. So, he wants to know what the process is to get off the list. Bateman says the problem is one of uncertainty — will the property fall under the ordinance or not? In a perfect world, all the properties on the list would have applications drawn up and decided in short order to take the uncertainty out of it. “That’s in a perfect world, but we live in Peoria.” So, his suggestion is to try to get the applications done as quickly as possible, but recognize it’s going to take time to get through 115 properties. Bottom line, the way to get off the list is for the property to fail the landmarking process. Spain concludes that he will support this item.

Montelongo will be supporting this item, and would like to see a process for getting properties on and off the list.

Motion passes unanimously. That was a lot of discussion on a motion to receive and file!

UNFINISHED BUSINESS

(09-616) Communication from the City Manager and Director of Planning and Growth Management with a REQUEST TO DEFER for 30 DAYS a REPORT BACK Regarding CONDITIONS to ENTER into an ANNUAL CONTRACT with the EAST BLUFF NEIGHBORHOOD HOUSING SERVICES (EBNHS) Related to Ordinance No. 14,534.

Riggenbach reports that they have had some “really productive negotiations” in the last couple of weeks. He would like to defer the item for two weeks instead of 30 days. Moves to defer two weeks; seconded by Irving; motion passes unanimously.

NEW BUSINESS

  • Turner mentions a couple upcoming boys tournaments.
  • Spain moves to remove item 09-506 from the table and place it on the 2/23/10 council meeting; seconded by Gulley. Passes unanimously. Item 09-506 was from the October 27, 2009, council meeting: “Communication from the City Manager and Director of Public Works with Recommendation to ACCEPT the LOW BID of ILLINOIS CIVIL CONTRACTORS, INC., and to Award a CONTRACT, in the Amount of $492,382.70, Plus a 5% Base Bid Contingency of $21,753.14 for the JEFFERSON AVENUE SAFETY IMPROVEMENTS.” I didn’t cover that council meeting, so I don’t know why it was deferred, if any reason was given at all.
  • Ardis will host a “community call to action” forum at the Dream Center this Saturday at 10 a.m.

PRESENTATION

ITEM NO. 1 PRESENTATION by the ECONOMIC DEVELOPMENT COUNCIL Regarding the FOURTH QUARTER 2009 PERFORMANCE INITIATIVES Under the SCOPE of WORK for the CONTRACTUAL AGREEMENT Between the City of Peoria and the Economic Development Council, with Request to Receive and File.

Van Auken moves to receive and file, seconded by Montelongo. Spain is abstaining due to the EDC’s relationship with his empoyer. Presentation ensues. Technical difficulties precluded the use of a PowerPoint presentation. I think it was sabotage. 🙂 Kidding. Motion passes unanimously.

CITIZEN REQUESTS TO ADDRESS THE COUNCIL

Nobody wants to address the council tonight. And there was much rejoicing.

EXECUTIVE SESSION

ADJOURNMENT

Spears moves to go into executive session, seconded by Riggenbach; passes unanimously. And then they move to adjourn and we’re done!

I realized right before Citizens to Address that somehow the ability to leave comments on this post was turned off. I do not know how that happened, but that’s really annoying! I was having some technical difficulties with this post early on, so something must have gotten messed up then. Sorry if you wanted to leave a comment earlier and couldn’t.

Goodnight everyone!

Speaking of IMAX, have you heard of “fake IMAX”?

Frequent commenter “Mahkno” mentioned in response to a previous post that “IMAX was [as of the last time he looked into it] moving away from the singular movie theatre venues. Their principle growth has been in partnering with large theatre chains to sell their IMAX brand, equipment, and format. It might be more likely at this point that one of the area multiplexes would adopt the IMAX format before the museum would.”

As a matter of fact, IMAX has indeed been partnering with large theater chains, including Goodrich Quality Theaters (which owns Willow Knolls 14 in Peoria) and AMC (which will soon own ShowPlace 14 in Pekin). But these multiplex IMAX theaters are not the same as standalone IMAX theaters. They’re smaller. A lot smaller. In fact, here are a couple of screen-size comparisons that I’ve shamelessly swiped from other websites (here [WARNING: lots of profanity] and here):

Click on the images to enlarge. As you can see, the retrofitted multiplex theaters don’t really hold a candle to a true IMAX giant-screen experience. But that really isn’t what has gotten everyone so upset. After all, the screen is larger than most multiplex screens, and the sound is far better.

What bothers critics — including Roger Ebert — is that IMAX is not differentiating these smaller theaters from their traditional giant-screen theaters. So Joe Blow goes to his local AMC multiplex and plunks down an extra five bucks for the IMAX experience, walks into the theater and… surprise! It’s not a giant-screen theater, but just a slightly-larger-than-average multiplex theater screen. And he feels scammed. Ebert offers some common-sense advice:

But apparently, IMAX is not going to do any such thing. This whole outrage over what many are calling “fake IMAX” broke out nearly a year ago, and so far no differentiation has been forthcoming from IMAX.

Nevertheless, given AMC’s deal with IMAX and the fact that AMC is buying Kerasotes Theatres, I wonder if the museum might have some competition for landing a local IMAX theater. Time will tell.

AMC is buying Kerasotes ShowPlace Theatres

With the exception of three theaters, Kerasotes is selling its entire chain to AMC. That means the Kerasotes ShowPlace 14 in Pekin will be acquired if the sale receives regulatory approval. Incidentally, for you local history buffs out there, before the ShowPlace 14 (originally the ShowPlace 12) was built, this was the site of the Starlite Drive-In Theater, one of several drive-in theaters in the greater Peoria area. It was destroyed by fire in October 1991. The drive-in was owned by Kerasotes Theatres, and when it burned down, they opted not to rebuild it, but instead put up the largest local multiplex at the time. You may recall that there was another theater chain in the area with a similar name: George Kerasotes Corp., or GKC. (Anyone remember the jingle? “Tonight I feel like GKC!”) It was unaffiliated with Kerasotes Theatres and was sold to Carmike Cinemas in 2005.

Now it looks like the Kerasotes name may soon be gone forever from the area. Here’s the press release:

Kansas City, Mo. (Jan. 19, 2010) – AMC Entertainment Inc. (“AMC”), and Kerasotes Showplace Theatres, LLC (“Kerasotes”), two leading theatrical exhibition and entertainment companies in the U.S., announced today that they have entered into a definitive agreement pursuant to which AMC will acquire substantially all of the assets of Kerasotes. Kerasotes owns 96 theatres and 973 screens in mid-sized, suburban and metropolitan markets, primarily in the Midwest. More than three quarters of the Kerasotes theatres feature stadium seating and almost 90 percent have been newly built since 1994. Following the consummation of the proposed transaction, Tony and Dean Kerasotes will retain and operate their two new ICON concept theatres in Minneapolis, MN and Chicago, IL; and one Showplace theatre in Secaucus, NJ. Kerasotes is currently owned by the Kerasotes family and Providence Equity Partners.

“Combining Kerasotes’ highly-regarded assets and operations with our own is a natural way for us to continue re-defining the future of our industry,” said Gerry Lopez, AMC CEO and president. “With almost 200 years in the exhibition business between us, our collective experiences and our complementary geographic footprints will allow us to maintain the reputation for excellence and leadership that is part of each company’s culture.”

“Our team has delivered a consistent, high quality experience for customers, and we have appreciated Providence’s partnership over the last six years in helping Kerasotes grow into the sixth largest motion picture exhibition company in North America” said Tony Kerasotes, Chief Executive Officer. “We expect these theatres will be a strong addition to the AMC theatre circuit, and look forward to successfully completing the transaction with AMC and to beginning our next chapter.”

Completion of the acquisition is subject to the satisfaction of customary closing conditions for transactions of this type, including Department of Justice antitrust approval.