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3 . 5 Mr • Reiter highlighted 1969 construction program, estimated total 11 million dollars , of which Leslie participation would be approximately k million , District funds available at this time approximately four million dollars , and a bond sale anticipated of 2z million . He advised figures for this bond sale had been submitted to Stone & Youngberg with de - tails as to how funds to be applied to each of measures and further reports would be forthcoming from these consultants . In reply to questions concerning sums still remaining un- spent from last sale of bonds , Mr . Reiter explained primary reason had been delays due toweather not anticipated in plan- ning process , but delays had also resulted in worthwhile ad- vances in completion of other planning designs which would be ready for construction before summer months . City Manager added that delays in Shores project resulting in less construction and improvements in the project as of March this year , had an influence on the general City Budget , reflected primarily with the Redwood Shores project , through the assessed valuation . Mr . Charles Wynn , Project Manager for Leslie Properties , asked by City Manager to report on sales experience since project opened . Mr . Wynn reported advance sales in excess of 3 million dollars , and every indication of good continuity in sales throughout 1969 . He advised also of the more than 10% letters of intent on file for future leasing of the Shoretovn commercial spaces for which construction would be commenced this summer , in ad - dition to the planned construction of a large hotel , restau- rant and two or more service stations . In reply to question of number of service stations proposed for the area , Mr . Wynn advised a total of five proposed , to be clustered away from Marine World Parkway and will be covered by every control possible in way of covenants and architecture . Council questioned range of costs of homes available in the project thus far; details of repayment costs ; effect on project , if any , of re -evaulation of properties by County Assessor; whether well -mixed cross -section of residents would be represented in project with low and high incomes , since this had been stressed by Council , and also mentioned in the original feasibility studies ; anticipated commercial and industrial developments for project for economic balance , etc . Mr . Reiter explained self -governing regulations to determine pur- chaser ' s ability to repay housing costs and how feasibility guide - line still prevailed ; discussed at length inability to foresee " low cost housing " in the project at this time with present land , labor and material costs , but would be included depending on what direction City gives project on Bair Island and how it could be worked out , as presently not possible except by sometype of sub- sidy to builders , either by Government or private enterprise . Mr Reiter stated it would be worthwhile to check on the several pro - jects which were mentioned in other parts of the country where experimental low cost housing was being done with some type of subsidy . Mr . Reiter also assured Council of records which must be kept under FHA regulations to prove sales not discriminating to minority groups and lack of the cross -section which might be expected be - cause of costs . He also agreed Council ' s stressing of low cost housing might be reviewed and further investigated by all of the representatives of this project because it would have to be a com- bined joint effort under present circumstances . After further Council questioning points of low cost housing possibilities for Redwood Shores in the near future , City Manager suggested that Staff meet on this issue with representatives of the District , or anyone else interested , and make a report back to Council as soon as possible . After further opinions expressed on this subject , Mayor Bury asked that report on this issue be made a part of the next monthly progress report on Redwood Shores ( Memo 5/6/69 ) ,