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Paul Society of Lane County and the Housing and Community Services Agency of Lane County (HACSA). The Intergovernmental Housing Policy Board recommended approval of the proposal. Councilor Taylor, seconded by Councilor Brown, moved to approve, for Phase 1 development of Bascom Village: 1) transfer of the western portion of County Farm land bank site to Saint Vincent de Paul; 2) commitment of $351,603 in HOME funds; and 3) provide for $249,593 in Eugene system development charge (SDC) waivers and to also approve for Phase 2 development of Bascom Village: 1) transfer of the eastern portion of County Farm land bank site to the Housing (HACSA); 2) commitment of $294,603 in HOME funds; and 3) provide for $224,346 in Eugene SDC waivers. In addition, make a recommendation to EWEB to approve an SDC grant for each phase of the project. Mayor Piercy solicited council comments and questions. Councilor Clark, seconded by Councilor Poling, moved to postpone the item to December 12, 2011. Councilor Clark commended the fact that the Housing Policy Board (HPB) had done more public outreach regarding the proposed development but said many neighbors did not feel their concerns were incorporated into the proposal due to a lack of time. That left the council with an up or down choice. Councilor Clark believed the community needed more affordable housing and if such a project was to be built, Saint Vincent de Paul was the entity to build it. However, he wanted to postpone action to investigate alternatives, such as a suggestion from attorney Mike Reeder that the City sell the site and use the proceeds to purchase a more appropriate site. Councilor Poling asked Housing Specialist Becky Wheeler if postponement would affect the federal funds underwriting the project. Ms. Wheeler said no. Councilor Pryor asked how selection of a different site would affect the funding. Ms. Wheeler said that delay past the beginning of the year would affect the developer's ability to seek State funding and would add to the developer's cost as each proposal was site - specific. Councilor Pryor asked about the availability of HOME funds in the next federal funding cycle. Ms. Wheeler said that a 38 percent reduction in HOME funding had been proposed, which equated to about $450,000 for the City of Eugene. Councilor Pryor suggested it was conceivable that the council might not have a lot of additional information to weigh in two weeks. Ms. Wheeler concurred. She said staff considered many issues when it considered site suitability, many of which were federal requirements related to environmental and social justice. Responding to a follow -up question from Mayor Piercy, Ms. Wheeler confirmed that any new site would be reviewed by the HPB. Councilor Brown was unconvinced by Mr. Reeder's arguments. He supported both the project and its proposed location and pointed out that a private developer would be able to build a much denser development that was likely to be less attractive. He said two weeks was not sufficient time to evaluate a complex real estate transaction and advocated for moving the project forward. Councilor Farr said it was difficult not to support an opportunity for more deliberative thinking. However, he was concerned that delay could jeopardize the project's funding and construction. At Councilor Farr's request, Ms. Wheeler described the annual low- income site - specific tax credits application process and indicated delay would not provide the developers with time to apply in 2012. She said the property was purchased with both Community Development Block Grant (CDBG) funds and MINUTES— Eugene City Council November 28, 2011 Page 5 Regular Meeting