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Regular City Council Meeting Monday, March 3, 2014 Page 13 Ms. Spencer noted additional parking off-street and adjacent to units between gar- ages and in-between town homes (two spaces total) as available. Ms. Spencer confirmed that each single-level townhome would have two spaces. Mr. Buelow noted that the project would have its own Homeowner Association owned by homeowners; with everyone part of the same maintenance and snow removal process. At the request of HRA Member Quam, Mr. Buelow confirmed that there was one less senior housing unit due to the reduction in units as currently shown. At the request of Member Quam, Mr. Buelow concurred with her that this has made some changes to the financing package and potential gap in that financing, but remained a moving target through this concept stage and until hard construction numbers could be provided to their builder. At this time, Mr. Buelow advised that they continued to work with their internal estimates and previous construction projects as well as those of their contractors;but noted that in working with a real tor, they had been able to reduce the financial gap from $500,000 to $300,000 at this time, even though still in process. Mr. Buelow advised that the reduction in the number of units hadn't had significant impact on the financing and had been done to achieve goals of the site and neighborhood, not for financial reasons. However, he did recognize that fewer units would have some impact on the over- all project financials. Chair Maschka noted the work of the GMHC at this time with realtors to deter- mine price points and amenities that would work. Ms. Spencer concurred, noting that the pricing targets continued to evolve de- pending on square footage and number of bedrooms and their locations; with the current price point estimated between$230,000 and $275,000. At the request of Councilmember Willmus, Mr. Buelow furnished the projected living space square footage of each unit: three level townhomes at 2,100 square feet including a finished lower level; two-story single family homes at 2,600 square feet with a finished lower level; and 2,500 square feet single-level town- home with a finished lower level. City Manager Trudgeon clarified the projected financial gap on the current proforma, as part of the next agenda item, noting that it included land costs for the City and HRA and anticipated reimbursement of $1.4 million as part of that gap. Mr. Trudgeon further clarified that Mr. Buelow was referring to the housing fi- nancial gap and not land, since everything was still in the concept stage. Mayor Roe concurred, opining that as one component got smaller, the overall gap got smaller.