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<br /> CARRIED BY TIlE FOLLOWING VOICE VOTE: <br /> AYES: DIRECTORS HOWARD, LEIPZIG, RUSKIN AND MAYOR HARTNETT <br /> NOES: NONE <br /> ABSENT: DIRECTOR CLAIRE <br /> ABSTENTIONS: DIRECTORS BUCHAN AND LA BERGE DUE TO TIlEIR ABSENCES <br /> FROM THAT MEETING <br /> MINUTE ORDER 11-97RD <br />---------------------------------------------------------------------------------------------------------------------------- <br />3. SUBJECT <br /> A. Franklin Street Area Plan, Lonestar Project, 4.5 acre property located at the corner ofEI <br /> Camino Real and Maple Street; <br /> I) Agency Board Members discussion of the Lonestar Project with policy direction ITom <br /> the Board on the project definition: Should this project be rental, owner occupied, or <br /> both? <br /> REPORT: Redevelopment Agency Director Church, April 14, 1997 <br /> Redevelopment Agency Director Church presented the staff report and Senior <br /> Planner Riordan displayed overhead slides of the subject area. Director Church <br /> provided the background of the area, the described the proposed project and the owner <br /> participation process, and described the proposed developer, Irving Apartment <br /> Communities (lAC), who replaced the original developer, Raiser. Director Church <br /> said staff was requesting policy direction ITom the Agency Board on whether the <br /> Lonestar site should contain rental units only, "for sale" units only, or a mix of both. <br /> He advised that the proposed development was predicated upon between 220-240 <br /> rental units only, except for a retail strip ITonting EI Camino Real. <br /> Director Church introduced the speakers who presented the pros and cons of rental, <br /> "for sale" units and mixed use alternatives. <br /> Bruce Dodman, Project Manager of lAC, described his company, a $1.7 billion <br /> apartment developer, listed on the New York Stock Exchange, managing 15,000 <br /> apartments in California, and known nationally for its focus on quality. He described <br /> lAC's involvement with this project since November, 1995 and its response to the <br /> owner participation request in January, 1997, and said this was a very well thought out <br /> project. <br /> Mr. Dodman, described the number of constraints attached to this site: It is small, <br /> not contiguous, with small businesses including auto repair businesses, with the <br /> railroad on the east, EI Camino Real with high traffic on the west, acoustical and <br />SPECIAL REDEVELOPMENT AGENCY MEETING MINUTE BOOK NO.1 APRIL 14, 1997 <br />MINUTES Page No. 404 PAGE 2 <br />