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Attachment B immediately with the first 6-unit plan as outlined in Phase I. If GMHC chose to go ahead with the 18 unit model, Mr. McNamara stated that with appraisals in place, the process should be smooth and move faster on the banks end. While it still may seem like a phase, Mr. McNamara advised that it would probably not occur that way. Mr. McNamara noted that, in a perfect world, if the plat was approved and construction begun in June of 2015, it was feasible that six units would be sold by August of 2015, and while construction would not be completed in that timeframe, the units would be sold, at which time the next phase could proceed. As noted by Councilmember Willmus, Mr. McNamara that without tying their hands in Development Agreement language, he was looking to start Phase I and have the City provide clear deadlines and consequences if Phase II was not firmly tied up and sold out. Mr. McNamara opined that he anticipated Phase II actually starting in the same construction season as Phase I, and he considered the banks position to be a rolling line of credit, and as each six units were sold, GMHC applied for financing for the next six units, continuing in a similar manner through completion of all phases. Mr. McNamara noted that, with the appraisal already in place, there should be no further delay for that process, but having only received the option for the 18-unit project last Friday, he had not fully evaluated that option yet, even though he saw no problem with it. Councilmember Etten asked Mr. McNamara what timeframe he foresaw to finalize the banks commitment to the first phase of six homes. Mr. McNamara responded that it would remain similar to initial discussions, with the bank committed in general to funding the overall project provided some pre- sale agreement were in place for Phase II at the appropriate time; and the bank committed to proceed with Phase I without any pre-sales to prime the market. Mr. McNamara noted that for Phase II, the bank would want to see three of the six units committed to, but reminded the City Council that theyd know that prior to moving forward, and GMHC and Western would return with more details at the discretion of the City Council. Mr. McNamara advised that submittals by GMHC to Western on specificity or guidelines was nearing completion for each phase and subsequent bank approval; and within 2-4 weeks he anticipated the remaining items could be worked through to approve concepts for Phases II and III. Councilmember Etten questioned GMHC if the 18 home proposal would involve the same unit designs or if they would vary some. Mr. Buelow responded that they would be similar, with some units smaller or having different options as they responded to comments from buyers, but in general start with the same concept. At the request of Councilmember Etten, Mr. Buelow confirmed that there would still be a master association for the properties.