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3 <br /> Mr. Schilling said he feels the supply side is important in the equation. He said he <br />thinks the idea of a housing trust or concept of shared appreciation is interesting. <br /> <br /> Ms. Richards agreed with Mr. Schilling and said she hopes that the Housing <br />Policy T ask Force will explore those in depth. Ms. Richards said she would like to see <br />single family rental property in the University area returned to home ownership. <br /> <br /> Mr. Cox said that the goal of the tax rebate program was to help families grow in <br />their curre nt housing, and said he would like to make sure it is helping those people it <br />was intended to help. Mr. Cox said he was taken aback by the small number of houses <br />AHIP has renovated in one year versus the amount of funds they receive from the City, <br />and sai d perhaps these funds could be better leveraged. <br /> <br /> Mr. Lynch noted that only nine families used the downpayment assistance <br />program, and suggested that it could be better marketed. Mr. Lynch suggested there may <br />be a more effective use of HUD 203K program funds. <br /> <br /> Mr. Huja said the City has not used the 203K funds, but he can research the <br />matter further. <br /> <br />REPORT <br />: ROUTE 29/250 BYPASS/HYDRAULIC INTERSECTION STUDY <br /> <br /> Mr. O'Connell explained that Council originally approved a much more <br />comprehensive study, but that was not funded by VDOT. <br /> <br /> Mr. Harrison Rue, Executive Director of Thomas Jefferson Planning District <br />Commission, highlighted the draft report of the Route 29/Hydraulic/250 Bypass <br />Intersections Study. Mr. Rue said the ideas for the report came from a wide range of <br />people and a pubic workshop. Mr. Rue asked Council to focus their attention on the <br />phasing, questions remaining for further study, and next steps. Mr. Rue said a resolution <br />is not needed now, but did note that the Albemarle County Board of Supervisor did <br />endorse the report at their last meeting. <br /> <br /> Mr. Lynch said he did not see an analysis of specific projects that will be <br />impacted in the economic impact statement, and asked if that will be in the final report. <br /> <br /> Mr. Rue said there will not b e a business by business evaluation. He said the four <br />businesses impacted at the Hydraulic Road intersection were lumped together. <br /> <br /> Mr. Lynch said that at the very least the assessed property values and taxes for the <br />properties affected should be determi ned. <br /> <br /> Responding to a question from Mr. Cox, Mr. Rue said that cost for proposal "D" <br />ranges from $800,000 to $1.2 million, and "C" is approximately $250,000. <br /> <br /> Mr. Schilling said that the lack of signal coordination is mentioned several times <br />in the repor t and suggested that perhaps that should be prioritized even higher than it is <br />now. <br /> <br /> Mr. O'Connell said that the signalization project is ready to go, but noted that <br />there are other more sophisticated systems available elsewhere that are not being done <br />he re now. <br /> <br /> Ms. Richards said that modern designed roundabouts can reduce the number of <br />signals and keep traffic moving. She said there is a change of attitude at the top of <br />VDOT and more of a willingness to work with localities, but that needs to filter do wn in <br />their organization, especially at the engineering level. <br /> <br /> Mr. Cox said his observations about the report include the importance of Hillsdale <br />Drive extended as the first move, but noted that the total cost of the project, projected to <br />be $174 millio n, is so high that he would like to know what project is possible. Mr. Cox <br />