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43 <br /> public did not want it. She said they are now talking with Davidson about the same site with a <br /> different idea. <br /> Commissioner Portie-Ascott clarified that years 3-7 are covered by the development <br /> partner. <br /> Marcia Perritt said yes and noted that it is the project that pays the fee rather than the local <br /> government due to all of the predevelopment analysis. <br /> Chair Bedford asked if they have done projects with three elected bodies as owners. <br /> Marcia Perritt said they have worked in Morganton on the Broughton Hospital Campus. <br /> She said that involved the City of Morganton, Burke County, many state departments and even <br /> the community college. She said that is probably the closest with multiple owners/stakeholders. <br /> She said that the State of North Carolina was the client in this case, so this will be a little different <br /> with three owners, but they are excited and think that it will be a good experience. <br /> Commissioner Richards asked if the master plan is complete. <br /> Perdita Holtz said not yet but it will be unveiled on September 22"d <br /> Commissioner Richards asked for clarification on what the product is, how it is conveyed <br /> back to the boards, and the decision to be made from that. <br /> Perdita Holtz said that DFI will provide a financial feasibility analysis on the plan that is <br /> coming out of the community engagement process now. She said that once the analysis is <br /> complete, there may be revisions to the plan because they will not know costs until the models <br /> are provided from the DFI analysis report. She said that there is a refinement item on the consent <br /> agenda tonight that allows refinements to the Master Plan as necessary. <br /> Commissioner Richards said that she had spoken to the manager about this because she <br /> was unsure why they were approving or authorizing changes when they were not even sure if <br /> they would be needed at this point. <br /> Perdita Holtz said that Thomas and Hutton is paid on an as-needed basis and that the <br /> consent agenda item will allow them to continue to work knowing that they will be paid for that. <br /> She noted that there is a not-to-exceed amount. <br /> Marcia Perritt said the Buncombe County project was at a very similar stage when DFI <br /> began working with them. She said they will test the viability of the plan in the market, construction <br /> costs, and what the local governments are willing to pay. She said the master plan sets all of the <br /> parameters they will explore. She said they may present them with a range of options for them to <br /> consider for decision. She said the final plan always changes a little, so she is expecting that here. <br /> Chair Bedford said one of the Strategic Goals is to emphasize affordable housing. She <br /> asked if DFI will bring various scenarios of cost vs. affordable housing supply created. She said <br /> it will be difficult because there are other affordable housing partners involved. <br /> Marcia Perritt said that the Ferry Road project is 137 acres, so a bit smaller, but 65 of <br /> those acres will be developed and 70 acres will be conserved. She said the 65 acres will be the <br /> leading plan. She said they expect about 650 residential units with a mix of type and affordability. <br /> She said that half will be restricted for affordability and that others will also be available for rent <br /> rather than purchase. <br /> Commissioner Fowler asked since they are including commercial and market rate housing <br /> if the developers purchase the land that they build that on or if the government entity gives it to <br /> them to discount the cost of affordable housing. <br /> Marcia Perritt said that those will all be analyzed in their work. She said that with Ferry <br /> Road, they first presented the commissioners with the extreme version. She said then they work <br /> closely with the decision makers so they can go through and focus on what they want achieved <br /> and understand why DFI presented the options and why the scale of public investment might be <br /> necessary. She said there will be a menu of different scenarios presented. She said that they also <br /> help them decide how they are going to manage if the property is sold, and how, or if the owners <br /> keep the property, or possibly even phasing it in with options. She said there are so many different <br /> possibilities, but their role is to help them understand what all of the possibilities are. <br />