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388 intent to support the project. As a further step, he said he is willing to not spend down the Housing Initiatives funds below $75,000 to assure this investment. Ms. Hamilton seconded the motion for purposes of discussion. She said she wants to discuss the differences between the two resolutions. Dr. Brown said it is his understanding that for the project to go forward, having money now would be helpful to the process. He said he is pretty supportive of Abundant Life Ministries and Habitat would like to see us move forward and support the resolution as originally written. Mr. Caravati said he also supports them, but said we have a fiduciary responsibility. He said he is concerned that there is not enough expertise or secured funding up front. He suggested getting a team together to try to figure this out as soon as possible and get it to next level. He said it will take equity investment from somewhere. Mr. Lynch said he shares Mr. Caravati's concern about investing so far on the front end of the deal, but it is his understanding that the front end investment is necessary in order to make the deal happen at all. He said that while he is concerned, he could support the request since he has heard tonight that the property has been secured. Mr. Lynch asked that the need for money now be addressed. Rydell Payne, Director of Abundant Life Ministries, said that resources are needed in order to do site plan preparation and to prepare for further development. Mr. Lynch asked if the timeline is substantially the same except that the property has already been purchased, and Mr. Payne said yes. Dr. Brown asked if fund raising is going on in the meantime, and Mr. Payne said yes. Ms. Hamilton asked for a ballpark estimate of the final cost of the project. Mr. Payne said they are finalizing the strategic planning process and have a United Way grant to start that process, but he cannot give an estimate of the final cost. Ms. Hamilton asked if the City funds will be used to fund the strategic planning process, and Mr. Payne said yes, in part. Mr. Lynch asked if he is correct that the parcels ultimately used for Habitat have not been identified, and Mr. Payne said that is correct. Mr. Lynch said he is still wrestling with how to guarantee the four lots that Abundant Life Ministries and Habitat agree are desirable, and Mr. McGee said they have a contract regarding this. Ms. Hamilton said she is comfortable accepting the lien. She said they cannot succeed unless we offer them the opportunity to succeed. Mr. Lynch agreed and said we have to track this carefully. He said he thinks we have enough leverage over both organizations that a lien may not be necessary. He asked that this be watched carefully as it is a little unusual. He said he does not want to exercise the lien on property in Gordonsville should the deal fall apart. Mr. Caravati withdrew his motion and Ms. Hamilton agreed. Mr. Lynch made a motion to approve the Resolution Authorizing the Transfer of $75,000 to Habitat for Humanities and Ms. Hamilton seconded the motion. Mr. Caravati argued that the lien is something we ought to do in spite of where it is. He asked Council to consider making the applicant responsible for all title search, recordation and other fees and requiring annual auditing statements on this project. He asked that the motion be amended to include these condition.