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Development Services Manager Gladhill presented the two drafts that had been created for a <br />Housing Assistance Policy and Affordable Housing Threshold Policy, explaining the housing <br />product priorities, priority lists, minimum thresholds, and scoring matrix. He explained that the <br />Environmental Policy Board would create a management piece addressing environmental <br />friendly design. Development Services Manager Gladhill indicated that it is impossible to <br />receive 100% funding under the quantifiable point system and scoring that judges the project's <br />qualities. He stated Economic Development Manager LaFrance incorporated financial <br />guidelines that would be considered before the City would bring in its funding or grant resources. <br />Development Services Manager Gladhill described the type of peer review the policies have <br />already received and stated the next step will be for the EDA to review the draft policies and <br />consider the financial perspective. <br />Development Services Manager Gladhill completed presentation of the policies by outlining the <br />private capital investment, comparison with past projects that had received financial assistance, <br />and the Council's position relating to financial packages. He stated it is anticipated final <br />adoption will be considered in February of 2014. <br />Councilmember LeTourneau commented on the depth of work to establish this policy and <br />expressed his appreciation to staff and the Ad -hoc Committee. He stated support for the <br />financial piece to identify viability of a project, a good practice of the EDA. <br />Councilmember Backous stated staff has done a lot of great work on these policies and he likes <br />that this is not just a 'process of developers making a funding request to meet ROI, but identifying <br />what is needed from the project to meet the City's goals. If the project does not fit within those <br />goals, it may not be a candidate for financial assistance. <br />Councilmember Kuzma added his appreciation to staff for its work and support for having this <br />written as two policies. <br />Councilmember Riley stated it would be interesting to see an example of how this policy would <br />be used to score a project. <br />Development Services Manager Gladhill stated staff does have that type of scoring sheet and is <br />checking the accuracy before presenting to the public. <br />Mayor Strommen stated she is also interested in seeing that type of example, noting there may be <br />gaps as past financial assistance decisions were made without this type of policy tool or <br />systematic way to determine whether the project met the City's goals /needs, compared to other <br />potential projects also seeking financial assistance, and how to judge performance /outcomes. <br />Mayor Strommen stated this policy took a lot of staff work and will serve the City well in <br />determining which project best meets the City's needs before considering financial assistance. <br />Councilmember Backous asked which projects staff analyzed against this policy. <br />City Council Work Session / January 28, 2014 <br />Page 2 of 7 <br />