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11 Mr. Norris agreed and said it is vitally important that Council be on record of setting a vision. He said he thinks we have the ability to accomplish the vision. Mr. Lynch said there is a perception in neighborhoods that the main focus of Council has been development, and we need to put that to rest. He said our goal is quality building, equity for citizens and extending quality of life for all citizens. He said physical development was a higher priority with previous Councilors. He said we are now looking for more human, environmental and workforce development. Ms. Hamilton agreed and said there is nothing in this document about development, development, development. She said this document is about stabilization. Mr. Lynch said that there was a lot of upzoning in the last Comprehensive Plan, and this Plan revisits some of those decisions. Mr. Lynch moved approval of the Vision, strategies and goals, Ms. Hamilton seconded the motion, and it was approved by the following vote. Ayes: Dr. Brown, Ms. Hamilton, Mr. Lynch, Mr. Norris, Mr. Taliaferro. Noes: None. RESOLUTION : AUTHORIZING LOAN OF $850,000 FOR PURCHASE OF DOGWOOD HOUSING PROPERTIES Mr. Tolbert said that Keith Woodard has requested a loan of $850,000 from the City for purchase of a majority of the Dogwood Housing properties. He said there are a total of 74 properties, and 14 are being purchased outside of this deal. He said 58 will be retained as affordable housing. He said this loan will bridge the gap so they can remain affordable. He said the subsidy will be $15,500 per unit. He said the loan will actually be made to a local nonprofit, either Piedmont Housing Alliance or Charlottesville Redevelopment and Housing Authority. He said the Housing Advisory Committee has reviewed the proposal and made suggestions. He said they would like to make sure the units remain affordable for the maximum amount of time, and suggested extending the loan beyond five years and charging interest. He said Mr. Woodard has sent a letter addressing concerns with these suggestions. He said staff recommends that the funding be provided out of the housing funds for a period of five years, with a balloon payment at the end, and no interest. He said the proposal is that the units remain affordable throughout the City’s financial involvement. He said the units are to be inspected and meet Section 8 standards. He said there will also be a right of first refusal clause for the City if the properties are sold. Mr. Lynch said it would be better if the partner had been identified so that we could hear from them that this will work. He said he is concerned that the time period is only for five years. Mr. Tolbert said that PHA is agreeable to participating, and discussions have also been held with CRHA. Ms. Hamilton said she shares Mr. Lynch’s concerns, but said the City can either renegotiate or take payment at the end of five years. Mr. Norris asked what the alternatives are if the City does not partner with Mr. Woodard, and what is the likely outcome for the families living in those houses. Mr. Tolbert said the houses could not be kept affordable. He said PHA did an analysis of buying the properties, but they did not have the resources to keep them affordable. He said the alternative is that they will be sold as market rate rental housing. Mr. Norris said they would also likely be rented to students, and it is likely that the families currently living in them would be out on the street. Dr. Brown said this is a great opportunity and he thinks Mr. Woodard should be commended for coming up with the plan.