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Mr. Bocian said yes. Ms. McGovern wanted Council to make a statement that surplus funds are not only for affordability but are to be used as economic reserves to repay these loans and pay them back early. She asked if there is a legal requirement that limits the occupancy to individuals 60 years of age and older? Mr. Bocian said yes. In response to an inquiry by Ms. McGovern, Mr. Bocian believed this project counted towards the City's ABAG numbers for low-income housing. He said staff is checking on this matter. To become a resident of an assisted living facility, Ms. McGovern asked if there is any type of physician recommendation that this is the type of care someone needs? Mr. Bocian said there is no physician recommendation required. In response to an inquiry by Ms. McGovern, Trevor Hammond, Vice President of Operations at Eskaton, said any person over the age of 60 could reside at an assisted living facility. Eskaton has a series of assessments that it goes through which decides the level of care that someone needs. He noted that this is a need driven industry. Ms. McGovern asked if there is any requirement that the Operator must notify the City immediately if it cannot meet its monthly budget? Mr. Bocian said the Operator is required to provide monthly reports to the City. He noted that staff would meet with the Operator on a regular basis and the Operator would inform staff of any financial problems. Mr. Fialho did not believe this requirement was a part of the regulatory or ground lease agreement. He suggested Council make this a policy statement and staff would carry it out. Mr. Roush said the Certificates of Participation payments are made on an annual or bi- annual basis. He believed that at the quarterly meetings if there were any issue with cash flow in such a way that it would be projected that the annual or bi-annual payment would not be made, the City would have an opportunity to become involved early on. Ms. McGovern wanted the Operator to be required to provide advanced notification to the City if it develops fiscal problems. Mr. Fialho noted that this is a procedural issue and suggested making this statement as part of the motion. Mr. Brozosky asked if a requirement could be placed on subsidized units for occupants who are not in need of this type of facility? Mr. Bocian did not believe this type of requirement could be made as there are regulations tied to the license agreement with the State. These developments are licensed and governed by State laws. He pointed out that this is contrary to the intent of assisted living, Pleasanton City Council 11 08/16/05 Minutes