City Council Work Session

Catherine Readand and one thing I'll just add before we go on to other questions is we had a groundbreaking for beacon landing yesterday and they went over the fact that they used to call it a lasagna of financing but they've moved now to the Smith Island cake financing because it's like 13 layers for those who've had a Smith Island cake and you know the city invested seven hundred thousand dollars into that project. Congressman Jerry Connolly brought almost $2 million in financing from federal resources. The county put in millions of dollars, Capital One. I mean, they basically went through all the different points of financing that got us to the point where they're digging up the ground now to construct this building,

Ashley Sharpleythink that pretty much covers it but yeah we did speak with some people developing affordable as well as some people involved in market rate development I I think that some of those things you know we see are pretty consistent from place to place again especially those larger developers are they have a similar you know bottom line pretty consistently but what I think we took some extra time on is what Melanie was talking about was what developing at that affordable rate percent 60 percent or lower AMI you know we spoke pretty extensively with the with Fairfax Presbyterian where they're you know developing Glebe View as well as the people involved with development at the Lamb Center for for beacon landing