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2 <br />ISSUE/CONCERN: Market analysis: <br />RESPONSE: Completed. 'The study 'does not focus on La- Porte; rather, the study looks at a . <br />"regional" picture. The market study _done for The Preserve at Taylor .Bayou quotes the <br />"area's apartments at an occupancy range. from 85% to 930% with the overall average of <br />90.05%.. The occupancy rate for Class A apartments in 2003' was 88.59%. The absorption <br />rate - for apartments is currently. 12 to. -18. months ' from completion of 'construction with <br />stabilization - occurring at 15 ' months 'on the average. ' 27.4% of the regions households were . <br />renters. <br />ISSUE/CONCERN: Provide a draft Parkland Dedication Instrument. <br />RESPONSE: Complete. Generic document was received; nothing approved or accepted.'as <br />intended. <br />ISSUE/CONCERN: Financing. Provide confirination/proof of funding allocatiom- <br />RESPONSE: OnMarch. 26, 2004 =the City received: documentation from Metropolitan <br />Funding : Coip.- 'c to gr their : comriutment to. providing=`.:fundi'A .for the project pending --: <br />"...resolution. of the outstanding issues and market. penetration...:". During a subsequent <br />. conversation1 with..., k4RobertwBii ct fiel'd;� he identified the outstanding issues as utilities:.:..-,... <br />(primarily sewer) aril "ownership?' -'of the'trails associated:with the preserve. _ <br />ISSUE%CONCERNi lift Station/ACOE'approval... _ <br />RESPONSE: Incomplete. Aletter from the developing engineer, received on March 1; 2004; <br />indicates that a plan has been submitted to the Corps- <br />ISSUE/CONCERN.; Environmental issues. Provide assessment approved by ALOE. <br />'RESPONSE: Incomplete. A'letter from the -developing,engineer, received on March 1; 2004., <br />states that a study will be performed and submitted to the Corps. . <br />ISSUE/CONCERN: Trails. Provide a letter of confirmation from the Legacy Land Trust <br />approving the layout and accepting. maintenance,.- management' -responsibilities of the <br />conservation easement. Additionally; . provide a final. plan for the trails stating exact <br />trail layout, .trail materials used, other *.structures being built, and estimated yearly <br />maintenance costs. <br />