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Mayor Tarver declared the public heanng Open. Bill McClure, representing A.F. Evans COmpany, indicated his company has invested approximately $250,000 for pre-development expenses, which consist of architectural fees, engineering fees, marketing studies, appraisals, etc. Building permits are usually paid at the time of closing and start of construction. If this were a normal project, he would have paid the fee at the appropriate time. Mr. Pico asked if any kind of fee was paid to the developer for putting together this project for the city. Mr. McClure said no. Ms. Acosta reiterated that the developer would be happy to pay the fee at the time it gets building permits, but staff was trying to deal with !the growth management aspect. There being no further testimony, the public hearing was closed. Mr. Tarver preferred that the growth management permits be issued for this year and did not want to see the full project be in jeopardy by having to reapply for growth management approval. He believed the Evans Company has delmonstrated good faith in its efforts. Ms. Michelotti believed this situation was created by the growth management allocation process. Mr. Pico asked if there were any lost opportBnity costs or interest charges being assessed on this project? Ms. Acosta stated the part of the reason this situation arose is because of the issues surrounding the Junipero extension. Mr. Tarvet believed the full project will i~e under construction as soon as it gets the financing and good weather. There is no question: that the project will be completed. It was moved by Mr. Tarver, seconded by Ms. Dennis, to adopt Resolution No. 94-147, authorizing a $275,000 advance from the Lower !ncome Housing In-Lieu Trust Fund to the General Fund to cover the costs of obtaining build!ng permits for 46 units in the Case Avenue mixed income housing development. 12/13/94 Page