1981-04-01 Joint Public Hearing and Regular Meeting

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e e . Minutes, Joint Public Hearing and Regular Meeting April 1, 1981, Page 4 agreement. Which regulates the use of the property through- out the time of the loan and it's a 40 year loan. The group will not be able to sell this project to anyone else. If they should have a desire to, and to my knowledge they have no such desire, but should they they cannot sell without the consent of the Federal Housing Commission. The use of the property is bound to the same use we go into; that is housing for the elderly and the handicapped. It can be put to no other use. The regulator agreement runs with the terms of the deed of trust, and in a sense is an extension of the deed of trust. Meza: Are there any further questions from the Council? Muston: Which portion of the property will this be built on? Carter: It's on the lower end of the property near Park Street. Meza: We will now hear from the public. Is there anyone here speaking for the project? . . Chris Gilbert: I am a property owner here in La Porte, a tax payer. I am here in opposition to the rezoning of this property from residential to commercial. My reason for being against it is that I won 13 single family residences within 200 feet of the proposed project. The preliminary evaluation of a prof- fessional appraiser has been such that if the proposed project is built, then I stand to lose in the devaluation of my prop- erty of each home approximately 5 percent, which would mean about a $30,000.00 devaluation of my property. I would have a complete study and back up for that, but it would take about a week and a cost of some $1,500.00 to back that up, but I am prepared to offer that to the City Council. My profession is that of an investor, including real estate. I own single family residences around the City of La Porte and other areas in Texas. The issues here heeds to be separated in that the proposed project itself, that of a home for the elderly and handicapped. I think it is needed. I applaud the effort of the expansion of the facilities for this purpose. I think that issue is one issue. The other issue is that of the re- zoning of a residential tract of land to commercial use. I do feel there are other sites in the City of La Porte for addi- tional homes for the elderly and the handicapped. I think there are commercial sites already zoned within the City for high density use; it would be of benefit for this type of project. They could be closer to shopping or whatever. I know there would be some economy of scale for the two being together, but I feel this isn't the only site that is available. The reasons I am