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<br />Mr. Wofsey asked Mr. Lang to clarify the process for separating Phase I and Phase II. Mr. Lang <br />indicated that Mr. Medve would create two condo units. Phase I will include 40% of the common <br />elements (garage, pool, etc.) of the property and Phase II would include 60% of the common <br />elements. The transfer of the common elements would reduce the value of Phase I, which is in <br />its first year of paying full taxes following a 10-year tax abatement. <br /> <br />Mr. Lang requested specific revisions and edits to the redevelopment agreement. The LCRA <br />agreed to consider the requests and continued its discussion of the agreement after Mr. Lang, <br />Mr. Medve and Mr. Porta left the meeting. <br /> <br />The LCRA Board agreed to meet again on September 2, 2015 at 7:00PM. <br /> <br /> <br />Other Business <br /> <br />None <br /> <br />The meeting was adjourned at 8:35p.m. <br />2 <br /> <br />