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Mr. Close replied that he has not discussed this with the owner. He indicated that under Federal law, the park cannot be limited to seniors, although there are exemptions for properties like this. He added that the exemption could be forfeited if the owner discriminates; therefore, it would be difficult to confirm that this would never change. He noted that the HOA would take control once the conversion occurs. Commissioner Narum stated that she wants to avoid a situation in which, five years from now, the owner decides he wants to sell to someone else who wants to have a family park. Mr. Roush indicated that contractually, the owner has agreed to keep the park age- restricted through the end of 2017 and that staff would look to the CC &R's to keep that restriction in place. Commissioner Narum noted that there is a gap and that it could be decided sometime between now and 2017 that the owner wants to sell. She added that as soon as the rent stabilization agreement expires, he could sell the park, and the new owner person would not be bound by the age- restriction clause. Mr. Roush stated that staff would attempt to keep the age- restriction by including in the ordinance and through the CC &R's. He added, however, that while this would be the City's goal, he could offer no guarantees as there are Federal laws that must be taken into account. Ms. Forbath reiterated that the park owner has demonstrated his cooperation with the City and residents. Gloria Robertson, a 20 -year resident of the park, stated that she thinks the owner has proposed a fair solution in wanting to convert the park to provide an opportunity for residents to buy the land or continue renting. She added that the ten -year period benefits everybody and that she supported the proposal. Aimee Ann Vickers, a10 -year resident, stated that the park is 37 years old with a lot of sewer, electrical, and other problems. She voiced concern that dues will be significant and would increase over time. Art Moniz stated that residents would buy air space below the unit and not the land and that those residents not of low- income status would not be able to get loans. He noted that many units are very old in the park and brand new manufactured units, which sell for $100,000 to $200,000, would be unaffordable for seniors. He voiced multiple hidden costs which would be passed onto residents as a result of incidents that have occurred, including sewer system backups, transformer circuit breakdowns, electrical utility problems, and park liner leakage problems. He then presented a disclosure regarding the park's conditions as of January 20, 2009 wherein no defects had been marked, which was of great concern. EXCERPTS: PLANNING COMMISSION MINUTES, February 25, 2009 Page 10 of 19