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Regular City Council Meeting Monday, September 08, 2008 Page 24 ten responses to Mr. Cann's questions related to compliance issues as early as to- morrow. Mr. Jones advised that, had they heard those questions previously, they could have responded at that time. Mr. Jones questioned the real reason why the situation had developed; and opined that this situation was representative of why difficulties arise when information was absorbed and assumed as fact from one source without verification as to its accuracy. Mr. Jones advised that the 42M let- ter, in addition to the HTC-l, was still intact and available in electronic and hard copy format for easy distribution. Mr. Jones noted that part of the City Council's questions go to financial, and opined that comparisons were being made based on inconsistent data; and should be compared previous project under prior ownership; long-life of this project for another 30 years; length of time the property was on the market, and potential sale at market rate rents with no restrictions if financing was available to underwrite those new rents; or sale to someone like his clients to pay the purchase price, make improvements to the property in an amount close to $3 million; and ques- tioned how to pay for that without the use of tax credits. Mr. Jones opined that this was how such a project came to fruition; and that comparisons needed to be made based on that information. Mr. Jones further suggested that, since there seemed to be some indication that his client had received a giant waterfall of money, and based on his representation of approximately 30 developers assured all parties that it didn't work like that, and that this would become evident upon review of the final request, and review of the HTCl comparing sources and uses. Mr. Jones suggested that it may be useful at this time for the developer to provide, during the interim period, an updated HTC form with best information available today, of those sources and uses to put the million dollar myth to rest. Mayor Klausing closed public comment at this time; and noted the public infor- mation requests previously noted during this discussion. Housing and Redevelopment Authority (HRA) Interviews (Councilmember Roe) Councilmember Roe requested that, since only one applicant for the HRA vacancy had been available for interview earlier tonight, staff determine if remaining applicants that had not been reviewed to-date, could be rescheduled for interviews at the next meeting, subject to City Coun- cilmember availability. Councilmembers concurred. 14. City Manager Future Agenda Review City Manager Malinen reviewed future agenda topics. Councilmember Willmus requested that staff provide, as part of the staff report as appli- cable, copies of Quit Claim Deeds and the City Attorney opinion related to Cent Ventures II, identifying the City's rights-of--ways, originally thought to be easements.