Larry, I appreciate the research you do and the careful explanation here. Since there has only been one project that used the 12 year option, we are likely primarily looking at the continuing use of the 8 year option. That will result in no new low income housing units or very few.
I would like to see an estimate from staff that shows how much projected low income housing revenue may come from this program. How much can be achieved with that amount of money?
The City has not shown how much this program is costing in staff time to administer. Is that administration going to eat up all of the fees that are collected?
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