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John Rood, marketing director for the project, said the $1000 commitment placed e a person's name on a waiting list. About halfway through constuction, the people on the waiting list will be given a chance to walk through the building and see the design. At that time, if the people wish to withdraw their $1000, they will receive it in full plus 12 percent guaranteed interest. If they decide to stay with the project, Mr. Rood said the money is applied to their rent or lease. The money is not used for any project development costs. Mr. Hamel asked about a long-range rental plan also advertised by the project developers. Mr. Rood said he was not aware of that plan. Ms. Wooten asked if there had been changes to the project design since the Hearings Official had seen the plans and if the project still covered 75 percent of the actual square footage of the space. Mr. Kittenger read the findings of the Planning Commission as follows: "The maximum building coverage in the Mixed Use District is 60 percent. The maximum parking coverage allowed is 30 percent. The overall coverage cannot exceed 80 percent. The Washington Abbey's structure itself only covers 73 percent which is in excess of the building coverage requirement; however, because the building covers the parking, the parking does not contribute to additional overall coverage." Mr. Kittenger said it was the decision of the Planning Commission to allow the compromise. As part of the Conditional Use process, and as the building takes more specific form, drawings are resubmitted to the Planning Department for its final review. Mr. Kittenger said some minor changes were made which were submitted to the Planning Department. The department saw those changes as minor modifications and approved them. e Ms. Wooten asked who the developers were. Mr. Kittenger said Randall Brandt, local businessman, was the principal person involved in the project. Ms. Wooten said she understood the proposed rent, including one meal a day, was in the vicinity of $1000 a month. Mr. Rood said research had shown the developers that a considerable amount of housing was available for low-income elderly. There were few options offered to middle-income seniors. Mr. Rood said this latter market is the one being addressed by the Washington Abbey project. He said the project was not subsidized by any government funding program. He said approxi- mately 85 percent of the project is on a waiting list. Mr. Rood said the project has two different financial plans for occupancy. One is a rental plan and a one bedroom unit begins at $600 a month. The other plan is a life-estate plan whereby a resident pays a membership fee in the beginning and has use of the living space for the rest of their life. If they should suffer a physical disability and chose to relocate in a nursing home or a convalescent center, the Washington Abbey pays for 50 percent of the health care costs. Mr. Rood said the project was trying to address people's needs that go on for many years. Mr. Lindberg noted that the Westside Neighborhood Quality Project was pleased that the project developers had been responsive to their requests for integrating the project into the neighborhood. Mr. Kittenger said the facilities at the Washington Abbey will be available on a sponsorship basis to groups and individuals from the community. e MINUTES--Eugene City Council November 15, 1982 Page 5