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30 <br /> <br />because of the financing. <br /> <br /> Mr. Clyde Gouldman, City Attorney, stated that he had <br />spoken with a representative of VHDA who explained that <br />Council's options included approving the financing of the <br />project, disapproving the financing, or taking no action. <br />The representative stated that if Council disapproves the <br />financing then VHDAwill~not approve the loan. <br /> <br /> ~Ms. Waters stated that while a public hearing was not <br />scheduled, she would allow persons to make limited comments <br />regarding the proposed project. <br /> <br /> Mr. Dennis Yates, a mortgage banker involved in the <br />Rivanna Terrace project, stated that Council's role was to <br />comment only on the financing method. <br /> <br /> Mr. Buck pointed out that CoUncil could disapprove the <br />project for reasons other than the proposed financing method. <br /> <br /> Mr. Jack Schwab, one of the principals in the project, <br />stated that the project was proposed to be 48 units in fOur <br />buildings which would rent for between $450 and $485 per <br />month. Mr. Schwab stated that Alcova Realty would manage the <br />facility. <br /> <br /> Mr. Buck asked what the existing traffic counts fOr the <br />neighborhood were and what would be the approximate increase. <br /> <br /> No existing traffic counts for the neighborhood were <br />available, but Ms. Waters stated that she had been told by a <br />member of the Community Development staff that such a project <br />would probably generate between 300 and 350 additional trips <br />per day. <br /> <br /> Mr. David Aller~of Locust Avenue stated that he had <br />petitions signed by residents of the neighborhood who were <br />concerned about the traffic generated by the apartments and <br />requested that access to-the project be limited to River <br />Road. Mr. Aller added that he did not think the R-3 zoning <br />of the property was in keeping with the neighborhood. Mr. <br />Aller alsO stated that there are only partial sidewalks in <br />the area. <br /> <br /> Mr. Sam Westbrook~of 1201 Belleview~Avenue noted~concern <br />that neither~Locust Avenue nor River Road have divided lanes <br />marked. <br /> <br /> Dr. Bennett Alford of Locust Avenue requested that the <br />impact of additional housing units on the neighborhood be <br />addressed prior to approving the project and prior to <br />approving the sale of land owned by the City adjacent to Pen <br />Park which has been discussed for possible future housing <br />units. <br /> <br /> Ms. Sandy Snyder stated that the intersection of St. <br />Clair Avenue and the 250 Bypass is dangerous and would be <br />made worse by the proposed project. <br /> <br /> Mr. Terry Tereskerz of 1039 Locust Avenue questioned <br />whether Council has the authority to alter the site plan. <br /> <br /> Ms. Waters stated that the site plan has been approved, <br />but added that it might be possible for the owner to ~alter <br />the site plan in order to secure the fin'ancing. <br /> <br /> Mr. Gouldman stated that Council does not have the right <br />to review site plans or the right of appeal~ Mr. Gouldman <br />added that only the person submitting the site plan has the <br />right of appeal for a site plan. <br /> <br /> Mr. Schwab stated that the developers of the project are <br />willing to sit down and work things out with the <br /> <br /> <br />