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Regular City Council Meeting Monday,February 23, 2015 Page 29 the original plan, Mr. McNamara noted that involved much more site improve- ment costs. Mr. McNamara advised that to remain committed, the bank needed to see ongoing progress, and was willing to lay out 2-3 variables of options the bank could support. As stated at the HRA meeting by Community Development Director Bilotta, Mr. McNamara recognized that the City would have similar con- cerns to those of the bank, with all parties wanting the units to sell. Mr. McNamara advised that at the February 17 HRA meeting, he was envisioning that discussion to concern what was at the crux of drafting a Development Agreement and the City's requirements for GMHC and clear timelines, which the bank would respond to. Mr. McNamara stated that he anticipated much shorter timeframes for construction, twelve to eighteen months versus three or four years as a guideline. Councilmember Willmus noted that one issue faced and timeline delays involved two different entities owning property for the development: the HRA and City; and asked staff for their input on whether or not one of those entities should take position of the entire parcel, and which entity that should be. City Manager Trudgeon responded that having two entities with two governing boards did complicate things, and that originally the City Council had ceded re- sponsibility of the development to the HRA. However, Mr. Trudgeon noted that the Memorandum of Understanding (MOU) transferring that responsibility had now expired, prompting tonight's discussion and his recommendation. Mr. Trudgeon opined that if the properties were combined under one entity, the City Council had a large vested interest in the project and had used the HRA to make it happen. However, since the City controlled the former fire station property, City Manager Trudgeon recommended that it may be more appropriate for the City Council to become the entity in charge, and get control of the land and purchase other parcels from the HRA. Councilmember Willmus suggested that action be taken soon. At the request of Councilmember Laliberte, Mr. Buelow confirmed that, regard- less of the 18 or 25 unit plan decided upon, the goal was to start on Cope Avenue. In response to Councilmember Laliberte's question on the need for the former fire station to be razed immediately, Mr. Buelow advised that it added value to the property to have it razed and for marketing purposes to show a clean site, but if necessary could remain even though it would not be aesthetically pleasing to po- tential buyers of units. Ms. Olson noted that it would change equity in the property to some extent. Mr. McNamara responded that he was of the opinion that it was everyone's goal to remove the fire station in a timely manner; and while recognizing Coun- cilmember Willmus' comment about that causing uncertain equity concerns for