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<br /> i+TTi~UTi';S <br /> City Council. <br /> (Contd.) <br /> January 239 1980 <br /> Councilman Fahey stated that the Council does no't Tsrant any type of <br /> low a.ncorne housin;r development in Little Canada. Section j,'202. is <br /> the only way the City can go 'to ge'b :Funding; exclusively for elderly <br /> and handicapped, <br /> 1~ahey stated that the City should get an option on the land and <br /> preferrably develop the who.l.e Sch~i.er property caith a cormnunit'y <br /> blocY, grant part of the property being developed as a park and 'the <br /> rest for the senior citizen development. I~'ahey stated that if bhe <br /> City couldnrt get the who:Le property perhaps they could get a piece <br /> of it for just the sen~.ox citizen development. <br /> f4r.c`ti.ce xeported that the senior citizen d.eveloprnent would cost <br /> approximately ,;;!40,000 to ;l~2,000 per unit for Little Canada. <br /> 80`'/'0 of the funding would go for the actual construction costs and <br /> the renvainirrg 20% would g;o for architects fees9 bonding :Pee, SliC <br /> charges, interest charges, legal :fees9 management fee, and furn9.shing <br /> fees. <br /> t•Lr, b'.ice also reported that if the developer of the project taould <br /> be a noxr-profit organization9 such as his9 the land would be tax <br /> free, If the developer *.aere a profit organization9 the developer <br /> would pay 50i of taxes. <br /> 1!ix, ILice stated that the kl:ilder Corp oration is a good non-profit <br /> developer also9 hocaever, they like to do 100 unit developments. <br /> 11x. Irahey informed citizens present that i£ the project would be <br /> developed on the property along County ;toad C9 .T.ona i.ane ~aould be <br /> buffered zrith a green axea. <br /> Councilman lle%ace asY,ed Fir. cZice c•rhat mortgage barilcer his corporation <br /> uses, i+ir. YLice stated that they' use the (Cnu'tson Corporation in marry <br /> instances9 but mould be willing to consider anyone the City suggests. <br /> trice also stated that his corporation does not use the same contractor <br /> or architect toro tunes in a roar. ..lso the reason they use Ifnutson <br /> is because Y.rau'tson has hired an ot'fic:ial from IIUll who itnoL•rs tkre ropes <br /> i:r these matters, <br /> Idr, Iahey as4te~d inr, Rice if he irad a, legal sta.f:f that can give the <br /> Council some e:xarnoles ox' how 'to ti.e up sites. nice replica they aa_d, <br /> iir. kLice inx'orrned 'the Courzcll his corporation. pays the architect a <br /> fee of 1/ i:o supervise the construction, '1'Yre architect ans*.•rers to <br /> the Community Levelopment Corporation on a project. <br /> before ;larch 319 1980 the City mus'b :first identify the >ite9 then <br /> establish control of the site for the senior citizen develoixnent9 <br /> and. select the ~r`202 sponsored developer. <br /> page -1~- <br /> <br />