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DRAFT meeting, and it is actually in the financial report here too, the Option 5C, 1,759 units, was a 50/50 mix, and everyone at the table was happy with that in terms of economic feasibility, including the developer. She noted that at the Task Force meeting, everyone agreed to shift the mix to 65/35 because that made more sense, more developer profit, and a better balance for the community so it was a win-win. She added that it did shift the developer economics to make that project that was previously feasible even more feasible, maybe by five or ten percent. She indicated that what she would like to propose is that the Preferred Plan which right now is carrying 1,759 units, be reduced to exactly the same profitability and feasibility margin it had when it was at 50/50 which everyone was happy with. She stated that she does not know what that lower number is but is guessing that it could be 50 or 100 units, and get it to that level that nets that feasibility test that everybody was happy with. She noted that she had heard from a number of people, both on the Task Force and in the audience tonight, that it would start off with a level playing field. Commissioner O'Connor inquired if it would be a 65/35 mix. Commissioner Allen said yes. Chair Pearce asked Commissioner Allen if she is talking about at a 50/50 mix with an option for 1,759 units. She noted that Option 5B seems to have that. Commissioner Allen replied that it is really Option 7: a variation of Option 5B turned into the Preferred Plan by shifting the mix. She noted that it would really be at a higher feasibility with more units than are required. Commissioner O'Connor stated that 50/50 is there, but what Commissioner Allen is saying is to look at Option 5C and leave it at 65/35, but reduce the number of units so the feasibility probability is the same as Option 5B. Commissioner Allen agreed and stated that that is a simpler way of saying it. Mr. Dolan stated that he understands the concept but that it makes things a little more complicated, and he cannot tell the Commission what that reduction should be. Chair Pearce asked how that could be figured out. Mr. Dolan stated that it also begs the question. He asked if it is just swapped out for the point that Mr. Costanzo raised about the value underneath the Transfer Station. He suggested leaving the numbers the same and moving forward, but carrying that concept forward as a part of the Commission's recommendation. He noted that the Commission has a desire to reduce the number, and that can be figured out as it moves forward when the numbers are real. Chair Pearce agreed. DRAFT EXCERPT: PLANNING COMMISSION MINUTES, 9/25/2013 Page 26 of 28