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<br /> REPORTER'S TRANSCRIPT OF PROCEEDINGS TAKEN 5-24-04 <br /> 1 February for one month it was 728,000, I guess we <br />j 2 sold a few villas somewhere in the county, but even <br /> 3 condo prices are somewhere around 450 and up. So <br /> 4 part of the problem is, in fact, a supply problem. <br /> 5 And we support this development for a <br /> 6 variety of reasons, many of which you've heard <br /> 7 expressed already, such as the design, the density, <br /> 8 the mixed use, variety of product types, the open <br /> 9 space and public access to the water. <br /> 10 And the trains and shuttle, as I recall <br /> 11 from the EIR, I believe it's proposed to operate <br /> 12 about three times ,each way, and I hope it succeeds <br /> 13 beyond that and six and 12 times a day, even. <br />( <br /> 14 Most important to us, we support affordable <br /> 15 housing. And the 15 percent voluntary inclusion of <br /> 16 below market rate is a significant commitment by <br /> 17 the developer and we applaud that very much. <br /> 18 Ten percent of that is scheduled to be for <br /> 19 low to moderate income, which currently in this <br /> 20 county the median income is $95,000 a year for a <br /> 21 family of four, certainly in a two income family <br /> 22 that covers a range of occupations that needs an <br /> 23 access to housing, and the median home price is <br /> 24 simply out of reach. <br />I 25 And then five percent of the units would be <br /> UCCELLI & ASSOCIATES 112 <br /> (650) 952-0774 <br /> .- <br />