M 03-23-81March 23, 1981
Los Gatos,
California
TOWN COUNCIL The Town Council of the Town of Los Gatos met
in the Council
Chambers of the Town Hall at 7:30 P.m., in
continued regular
session.
PRESENT Mrs. Ruth Cannon, Mrs. MarLyn J. Rasmussen,
Mr. Peter W.
Siemens, Mr. Brent N. Ventura and Mayor
Thomas J. Ferrito.
CONSULTANT - Mrs. Cannon moved for adoption of Resolution
No. 1981-68
EIR - GUADALUPE entitled, A RESOLUT10N OF THE TOWN COUNCIL OF
THE TOWN OF
COLLEGE LOS GATOS AUTHORIZING EXECUTION OF A CONTRACT
FOR CONSULTANT
SERVICES WITH LARRY SEEMAN ASSOCIATES. Mr.
Ventura seconded.
Unanimously carried.
FORBES MILL Discussion was held on the selling price of
the Below Market
PROJECT - Price units located in the Forbes Mill
Project. Gerry
PRESENTATION Steinberg, partner in the Forbes Mill
Project, discussed
Section D of the Town's resolution that gives
the rules,
Procedure and criteria for determining the
price of the BIMP
units. Ms. Steinberg requested the Council
allow them to
price the units at 120% of the County's
median income. Mr.
Knox, a former Planning Director for the City
of Palo Alto,
gave a short presentation on how the City of
Palo Alto solved
their BIT price problem. He suggested the
'Council pass a
resolution locking the price when they have
all come to an
agreement. Mr. Diller, one of the principal
of the Forbcs
Mill Project, also spoke on resolving the
price problem. He
agrees with Mr. Knox and Gerry Steinberg at
pricing the units
at 120%, of the County's median income. Mr.
Diller also
suggested the aid of a third party. No
action taken by the
Council at this time.
ADJOURNMENT Mrs. Cannon moved the meeting be adjourned
at 8:0 p.m.
Ventura seconded. Unanimously carried.
ATTEST:
Rebecca L. Baine
Deputy Clerk