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the combination of old projects and projects approved in 1995. It is simply that the 1995 <br />projects cannot exceed the 650/750 units. <br /> <br /> Mr. Swift indicated the bottom line is the difference between a reservation and regular <br />growth management allocation is the regular growth management allocation says you have <br />approval and can take out a building permit during that year. The reservation says we are <br />saving place for you to get formal approval at the next time for allocation; once you have the <br />formal approval, then you can take out permits in that year. <br /> <br /> Ms. Mohr felt one of the reasons the subcommittee agreed on this project is that the <br />School District does not get its money until escrow closes. Them are some badly needed <br />improvements at the schools that need to be started soon. This deal could fall apart like the <br />Sycamore one did. <br /> <br /> Mr. Tarvet again referred to his question about the staff recommended allocations and <br />the footnote that stipulates no permits issued if it will exceed 750 units in 1995. <br /> <br /> Mr. Swift said that was not for the Del Prado reservation. <br /> <br /> Mr. Tarvet asked why Del Prado was treated differently than other units. This results <br />in 802 units in 1996. That has been a nagging problem because we can't get 1996 and 1997 <br />under 750 units. <br /> <br /> Mr. Swift was confident he could say there will not be more than 750 permits issued in <br />1995 even with the Stanley Senior and the New Cities projects. <br /> <br /> Mr. Tarver said that means they would have to walt if the numbers exceed 750. <br /> <br /> Mr. Swift said that was true, which was the same thing done for Signature Properties last <br />year. <br /> <br /> Mr. Tarvet asked then is that the legal opinion, that we can't allocate on a first- <br />come/first-served basis? <br /> <br /> Mr. Roush said that could be done if the program is modified. Right now the program <br />is not set up to operate that way. That is one of the options that were discussed and there were <br />many who felt there should not be a first-come/first-served process. <br /> <br /> Ms. Michelotti then asked for an explanation of how the program currently works. <br /> (There was discussion of the various aspects of the program.) <br /> <br /> Mr. Bates indicated it was difficult to get financing without firm growth management <br />approval. It is Council's discretion as to what units are counted. The small projects under five <br /> <br />12104195 -14o <br /> <br /> <br />