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<br />Item No.1 (cont inued) <br /> <br />In response to questions, Mr. Frank said that residents would be 62 years or <br />older; private funding is involved; rents would be moderately high and <br />include meals and programs; and that no purchase of units is involved. <br /> <br />Discussion followed and Mr. Frank commented and replied to questions <br />relating to possible overcommitment to senior housing in the City; the plain <br />wall proposed for the Broadway side of the building; the possibility of <br />converting the units to condominums at a later date; and whether other types <br />of development might not be more desirable for the site. <br /> <br />Community Development Director Schroeter stated for the record that since <br />the property is in a Redevelopment area, 15% of any housing provided there <br />must be for low and very low income people. <br /> <br />Chairman Claire noted that the presentation was made at the request of Mr. <br />Nagel and Mr. Frank who wanted Council comment on the most recent plan for <br />the property, and no action is necessary. <br /> <br />ADJOURNMENT <br /> <br />M/S: <br /> <br />Britschgi/Stangel to adjourn <br /> <br />Carried unanimously by voice vote and Redevelopment Agency adjourned at <br />11 : 12 p. m. <br /> <br />JACQUELINE C. HILDEBRAND <br />C I TV CLERK <br /> <br />Redev.Agency <br />6/9/86 <br />P ag e 2 <br /> <br />MINUTE BOOK NO. 46 <br />Page No. 297 <br /> <br />_.__.,._.~,_._--..-.."., ." <br />