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but asked that staff vet this proposed change as well as the other changes with lenders to make sure that they will all be workable and beneficial. Scott Erickson stated that he will attend a meeting of the Bay East Association of Realtors Housing Opportunity Council next week and will use that as an opportunity to solicit feedback from lenders. Vice Chairperson Stark felt that it would be appropriate to keep the first-time home buyer provision in its current form as recommended by staff. He added that he feels that the real estate community will Like the proposed changes. The Commission discussed the proposed changes and generally concurred that they would improve the usability of the DPA program. It was moved by Commissioner Harris, seconded by Commissioner Casey, to approve the staff recommendation with the clarification that staff will solicit input from lenders and realtors at the BEAR meeting next week. Steven Bocian clarified the recommendation listed as #2 in the statTreport. He stated that staff feels that two years is an appropriate time period for deferring initial payments so that lenders do not count the payment toward the borrower's debt. However, he indicated that the specific deferral time period may change if lenders advise otherwise. The Commission affirmed that staff could be flexible to incorporate a different period in the final version of the guidelines based on feedback received from lenders. The Commission voted on the motion, which carried unanimously. 9. MATTERS II~TITIATED BY MEMBERS OF THE COMMISSION Vice Chairperson Stark thanked staff for making copies ofhe flyer advertising the third annual Tri-Valley Housing Assistance Forum sponsored by BEAR. The forum is planned for Tuesday, October 9, at the Pleasanton Tennis and Community Park meeting room at 5801 Valley Avenue in Pleasanton. Mr. Stark stated that this type of event is held three times yearly throughout the region served by BEAR. It is a good example of public and private collaboration and will be a great venue for discussing the proposed changes to the DPA program. 10. DISCUSSION OF AGENDA AND SCHEDULE FOR OCTOBER 18, 2007. MEETING Scott Erickson stated that the following items are tentatively scheduled for the next meeting agenda: • Approval of annual operating budget for Ridge View Commons Page - 6 -