3A Public Hearing 2008 0303 - Laserfiche WebLink

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Excerpts from the Planning Commission Meeting Minutes December 13, 2007 Agenda No. 07-23 Page 4 of 8 Ms. Oesterreich said that she doesn't remember. She is not sure there are any in that category. Commissioner Nardine asked about lifetime leases for residents aged 62 and up. She wanted to know haw many residents are in that age group, and where will they go while their residences are upgraded. Ms. Oesterreich said that the tenant relocation program offers lifetime leases to these renters, but she is not certain of the number. Commissioner Nardine asked if the units that remain rentals will be upgraded in the same manner as the condominiums. Ms. Oesterreich said that new carpet and linoleum would be added, but the upgrades would be not the same as with the for-sale units. Commissioner Nardine asked whether these residents would be displaced during the conversion of other units. Ms. Oesterreich said that it is a possibility. Normally Davidon does not vacate an entire building at once, but rather progresses in stages. There are four floors in each building, and they would probably do one or two floors at a time. Residents might have to be relocated during that period. Davidon would try to relocate them onsite, but if that is not feasible, they will find another living space as nearby as possible. Commissioner Nardine asked if that does not work as Ms. Oesterreich described, what is "Plan B"? Ms. Oesterreich said that Davidon has not run into that situation, after three conversions so far. Commissioner Nardine asked how many units would be converted simultaneously. Ms. Oesterreich said maybe 15 to 30 units would be converted at a time. Commissioner Nardine asked about the discount offered at other conversions for residents who want to stay. Ms. Oesterreich said that it is the same at all of Davidon's other conversions. Commissioner Nardine asked how the discount is calculated. Ms. Oesterreich said that she believes it is a $4,000 flat discount, regardless of unit size. Commissioner Nardine noted that Homeowner Association fees are almost $330 per month. Ms. Oesterreich said that is only an estimate. Commissioner Nardine asked how often the fees would increase. Ms. Oesterreich indicated that fee increases basically would be up to the HOA. Commissioner Nardine asked what the fees pay for. Ms. Oesterreich explained that the units are individually metered for electricity and gas, but hot water is delivered from boiler units on top of each building. Thus, the HOA fees would include hot water, water, property maintenance, trash removal, landscape maintenance and repairs. She also pointed out that a large part of HOA dues is for reserves for future improvement.