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home in Lakewood 4 years ago, and noted his view that people are being forced out of the <br /> community due to increased rents. The projects will add 280 units to Lakewood's housing <br /> stock and open up spots for those with lower incomes. He added that there will be no <br /> difference in finish between affordable and market rate units. Chairman Shachner asked <br /> whether people that do have the means to live in higher quality housing would be <br /> searching for the product that Solove plans on building. Mr. Solove indicated that in his past <br /> searches,the higher quality units that he desired were not available so he moved <br /> somewhere else. Individuals who could be in a higher income apartment then choose to <br /> live with roommates in duplexes. Mr. Solove indicated that building higher income units <br /> will open up duplexes for others to live in and that his company saw this bear out in <br /> Columbus. <br /> Councilmember Kepple asked whether the city is protected in the event any environmental <br /> concerns arise at the sites. Mr. Solove indicated that the city is. He added that his company <br /> has done extensive environmental reports on the sites. Rob McCarthy stated that Section <br /> 19 of the agreement gets into indemnity and that Section 6 refers to transfers. The deeds <br /> being used will limit the city's liability. The city's chain of title in the transfer will only be a <br /> couple minutes. Councilmember Kepple then asked whether the library portion of the TIF <br /> would be included in the schools portion of the TIF. Mr. Leininger noted that every revenue <br /> stream would be diverted besides the schools'. <br /> Councilmember O'Malley noted that it's been decades since Lakewood has had new <br /> construction of apartments and that demand exists for Class A apartments in Lakewood. He <br /> noted that Lakewood is losing residents to Ohio City or Gordon Square,where they cannot <br /> build these types of apartments fast enough. He spoke to the benefits of the project: <br /> improved revenues, local labor being used, etc. He urged Council to work quickly, as <br /> construction season is approaching. <br /> Councilmember Bullock stated his support for the project and that there are lots of <br /> safeguards built into it, along with deliverables required of the developer. He inquired <br /> about the time range for move in,when the TIF starts, and whether COVID affects the <br /> developer's plans on the marketing/finish of the units. Mr. Solove stated that move in could <br /> potentially be next year. The developer stated his desire to break ground as soon as <br /> possible and that his company has looked into how working from home could change <br /> apartment layouts. The TIF starts on the January 1St following the certificate of occupancy <br /> being issued. <br /> Councilmember Litten wrote the following questions in the chat of the meeting: 1. The <br /> neighborhoods are very interested in these projects. How accurate are the timelines? 2. Is <br /> there ANY talk within the administration on if the schools can help with these investments <br /> in the future? 3. Likelihood Casto or another developer experts/asks for something similar? <br /> Director Leininger stated that the timelines were placed as far out as possible as failsafes. <br /> The administration is starting conversations with the school district on other projects. It <br /> has also received other TIF requests. There are other ways to invest in other projects, <br />