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43 Mr. Lynch said he feels the third option is appropriate and is a closer definition of affordability. He said his only question is about having a guarantee about delivering the houses at the $150,000 price. Mr. Steve Blaine, Attorney for Southern Development, said they want to impose ongoing affordability, but do not want to complicate future financing. He said the details can be worked out by the second reading. He said they can commit to build the units before a certain amount of time. Mr. Bailiff said the affordable units will be built within two years, but likely sooner. Responding to questions from Mr. Caravati, Mr. Bailiff said a total of 40 units will be built, most in the $210,000 to $225,000 range. Mr. Caravati asked about fee simple title, and Mr. Brown said they will get fee simple title on the portion of the property that the City owners. Responding to a question from Mr. Caravati, Mr. Brown said the key is to make sure the affordability is enforceable initially and into the future, but he said he is optimistic that this can be worked out. Mr. Schilling said he appreciates the applicants' efforts, but hearing the complications he would prefer payment to the City be put in the housing trust fund so that the City can have complete control, and suggested this as option four. Mr. Schilling said Council may want to discuss establishing a policy about this in the future. Mr. Lynch made a motion to approve the street closing, with option three, and details to be worked out by the second reading. Responding to a question from Ms. Hamilton about Mr. Schilling's suggestion, Mr. Lynch said he is not sure what the City would do if the funds are put in the housing trust fund except to subsidize affordable housing which is what option three will do. He said the developers are essentially offering a reduction of $200,000 and the City probably could not leverage that amount down the road. Mr. Caravati seconded Mr. Lynch's motion and suggested that there be a public hearing on the second reading. Mr. Lynch's agreed. The ordinance entitled, "AN ORDINANCE CLOSING, VACATING AND DISCONTINUING A PORTION OF OLD FIFTH STREET EXTENDED OFF HARRIS ROAD," with option three, was offered and carried over to the next meeting for consideration. RESOLUTION: SPECIAL PERMIT FOR #3 UNIVERSITY AVENUE Ms. Scala said that the Planning Commission approved the special permit for #3 University Avenue with conditions. She said that Council deferred the resolution at its July 6th meeting and sent it to the Board of Architectural Review. She said questions had been raised about the driveway width. She said the BAR made recommendations and in general were satisfied with the proposal. She said their strongest recommendation was to get written comments from an arborist about the trees. She said that Ben Powell of the Fire Department has asked that the driveway width be not less than 15' 16" and said that a width of 12' is not acceptable at this time. She said that staff remains concerned about saving the beech tree, but that will be worked out at the site plan level. Ms. Hamilton asked if the intention has been expressed to save the tree. Ms. Scala said yes, but the applicant thought the tree could be saved by making the driveway smaller.