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He said their program accomplishes something unique in the area; <br />houses, parks, commercial, office, plazas and other amenities. <br />He said the project will have a comnus-like feeling throughout <br />and will include an amphi-theatre. He reviewed the Drachman <br />system of parking proposed. <br />Commissioner Doherty asked the applicants to give the Commission <br />a cost per square foot to the buyer of the residential units. <br />Per. McVicar stated he could probably tell the Commission the <br />construction cost, but not the selling price. Commissioner Doherty <br />said he would like this figure. <br />Mr. Cox said pricing is very preliminary at this stage. He <br />addressed the possibility of participating in the mortgage bond <br />issue with the City and that. it is tied into the median income of <br />the area. He said in a very preliminary calculation the residential <br />units would be from about $90,000 to $130,000 depending upon <br />the size of the units. He said at this point they still don't <br />have enough information to give anything but a very preliminary <br />square foot cost figure. <br />Commissioner Wilson asked if Daon has built residential units <br />in the past. He said that in the last two meetings with the <br />developer no one has really addressed the residential issues. <br />P4r. Cox exp3.ained Daon is not a residential developer and would <br />either sell the residential property or become part of a joint <br />venture with another developer. He-said if a joint venture, <br />Daon would act in a manager-related position maintaining some <br />control in design, CC&Rs, etc. <br />Commissioner Jamieson asked if the Drachman system of parking <br />is allowed ~(aho would pohice the area to make sure the small <br />cars parked in the smaller spaces, the larger ones in the larger <br />spaces. Mrl. McVicar indicated it needs no policing by virtue of <br />the design pf the lot. <br />Commissioner Lindsey asked what steps--would be taken to reduce <br />the floor area to 775,000"sq. ft. Mr. McVicar said they haven't <br />came up with a solution but-one could take for example two floors <br />off of one of the buildings. Commissioner Wilson asked if this <br />was done, would parking be evenly dispersed or would one area have <br />a lot of parking and the other areas a small amount. Mr. McVicar <br />indicated they would try to balance the parking as evenly as <br />possible. <br />Mr. Cox addressed various conditions of the staff report. as <br />follows: <br />No. 4: He lwould like to insert the following at the beginning <br />of the second sentence: <br />"exlcept in the area between RU?1 and the west property <br />line" there would.... <br />-3- <br />