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Planning and Zoning Commission <br />February 4, 2008 <br />Page 3 <br />properties; there will a double entrance from 20th Street; they will <br />build 14 to 16 buildings, single-story where possible; they will hire <br />good on-site property managers; and there will be a computer center <br />and a laundry room for the residents. She stated that community <br />support was very important for a project like this. <br />Bill Harris asked whether maintenance staff would live on-site also, <br />and Ms. Manes stated they would either be on-site or nearby so they <br />could respond quickly. <br />Fran Neeley stated that the complex doesn't appear to be close to any <br />of the items listed as nearby, such as schools, restaurants, etc. Ms. <br />Manes stated that TDHCA wants a 2 mile radius, and there are several <br />items within that radius. <br />Bill Harris asked how many complexes built by BETCO are still owned <br />and operated by BETCO, and Ms. Manes stated that they are just now <br />building their first three complexes because they are a new company. <br />She stated that they are required to maintain ownership for 17 years <br />and to maintain the affordability status for 40 years. <br />Mr. Harris asked if any traffic or infrastructure capacity studies had <br />been completed. Ms. Manes stated that they had discussed drainage <br />with the City's engineering department and were told that the sewer <br />system in the area was of sufficient capacity. As far as traffic, they <br />are studying this and will put curb cuts where allowed and will work <br />with the City to potentially find better locations. <br />Brad Archer asked what the plans for the left-over acreage would be, <br />and Ms. Manes stated that there is a natural tree barrier on the back 2 <br />acres that will remain, and they will probably install a perimeter fence <br />and landscaping buffers. <br />Richard Hunt asked if the property was taxable and what impact the <br />development would have on the tax rolls. Ms. Manes stated that they <br />would be investing about $8 million and they will use local <br />contractors and suppliers. She said that this kind of property is <br />appraised using the income approach, so about 50% of the value of <br />the property is what they would pay taxes on. <br />Mr. Harris asked what the plans for security were. Ms. Manes stated <br />that the on-site property manager would address their security needs, <br />but if they needed to hire outside security, they would do that. <br />