VENTURA : City Extends Pacts With Developers

The Ventura City Council agreed Monday to extend exclusive negotiating agreements with two developers for the construction of a multiscreen movie theater and retail stores downtown until Oct. 31.

The council’s decision comes less than a month after the AMC theater chain backed out of a deal to operate the proposed 4,000-seat cinema, which city leaders want to have built at the corner of Palm and Main streets.

AMC pulled out after Century Theatres announced that it planned to expand its Century 8 theater in eastern Ventura off Johnson Drive. AMC feared the Ventura market could not support two multiplexes, city officials said. City Council members said Monday that they were confident another operator could be found for the proposed downtown theater, although no company has committed to the project as yet.

“I think we are going to see a company come forward,” Councilman Greg Carson said. A multiscreen theater downtown is considered a vital element in the city’s long-term goal for the revitalization of downtown because it would lure visitors to the area in the evenings.

Burbank-based developer Victor K. Georgino wants to develop the theater complex and is seeking another operator. Pasadena-based Weirick Properties Ltd. has proposed building retail stores adjacent to the theater.

Having agreed to the exclusive negotiating pacts, the city will not consider offers from other developers through the end of the month.