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17 <br /> <br /> Ms. Dennis asked what was the A.P.R. of the loan. She was having a problem seeing <br /> the advantage to using this program rather than other programs. <br /> <br /> Mr. Donovich did not have the A.P.R. information at that time. <br /> <br /> Council agreed to review the closing cost cap and to review the moderate-income <br /> program. <br /> <br /> Warren Brazes, 2172 Camino Brazos, stated that the $1,800/unit that Kaufman and Broad <br /> receives to administer these loans is not fair to the rest of the public who arc trying to sell their <br /> <br /> Mayor Tarvet added that the affordable housing program for moderate-income projects <br /> needed to be reviewed. He wanted to initiate a change to the ordinance as to what constitutes <br /> funding and the in-lieu fees. <br /> <br /> It was moved by Ms. Mohr, and seconded by Ms. Seribner, to continue this item to the <br /> September 21, 1993 City Council meeting. <br /> <br /> The roll call vote was as follows: <br /> AYES: Councilmembers Dennis, Mohr, Pico, Scribner and Mayor Tarvet <br /> NOES: None <br />-- ABSENT: None <br /> ABSTAIN: None <br /> <br /> 7:30 p. lrlt. <br /> <br /> 12. MEETING OPEN TO THE PUBLIC <br /> <br /> Arroyo Del Valle Trail <br /> <br /> Larry Roe, 5846 Corte Brazos, stated that the citizens who live near the Centennial Trail <br /> at Arroyo Del Valle (and a few that live elsewhere) were opposed to paving a portion of the <br /> Trail. (A petition was presented to Council). He asked that there be another public hearing so <br /> that these citizens could express their concerns. <br /> <br /> Ms. Bengtson indicated that this concept has been before the Park and Recreation <br /> Commission several times over the last year but not as a specific project. In response to Ms. <br /> Mohr's questions, Ms. Bengtson described the trail sections in the Arroyo Del Valle. <br /> <br /> 09/07/93 7 <br /> <br /> <br />