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unworkable. He noted that a facade save would cost approximately $2 million. He acknowledged the passion for preservation but noted that full demolition would make sense from a pure cost perspective. Director Leininger compared various comparable projects in the region including Top of the Hill, Cedar Lee Meadowbrook and Van Aiken Phase 1 in terms of their specifics and incentives. Councilmember Bullock asked for an updated appraisal of the land at the site. Director Leininger shared statistics on the number of jobs and income tax generated by Lakewood Hospital and compared that to the anticipated income tax to be generated by the new development. The development is anticipated to bring 160 office jobs and 90 commercial jobs and approximately $620,000 in income tax. In response to a question, it was clarified that there remains $8 million in the Lakewood Hospital Fund. The $1.5 million in site grading will come out of the fund, leaving $6.5 million. In response to a question, Director Leininger explained why the city purposefully enshrined the infeasibility of a hotel into the term sheet to address anticipated questions about why a hotel is not part of the plan and also to leave the door open in the future for a hotel, if market conditions change. Karen Wagner— 1514 Marlowe Ms. Wagner stated that she liked the project so far and is relieved to see that it is the right size for Lakewood. Ashley Berger— 1520 Marlowe—Asked about Roundstone's current office space and what its vacancy will mean for the city. Director Leininger remarked that the city and Roundstone have begun to contemplate another tenant for the building. He noted that the current Roundstone building is a unique sought-after space. Director Leininger asked Council to schedule questions in advance so that consultants can be scheduled. Committee of the Whole adjourned at 7:30 p.m. 4