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<br /> <br />7 <br /> <br />Academy $11 million for this project. She provided further comment on how the school would pay back <br />the loan to Anchor Bank over the next 25 years. <br /> <br />Commissioner Frischman asked who would be staying in the dormitory. Mr. Beck reported the <br />dormitory would be filled with seminary students, a caretaker and an occasional faculty member. Lew <br />Zeidner, United Theological Seminary, reported 40% of his students were online and 60% were in <br />residence. He noted the dormitory would house approximately 20 students and indicated this housing <br />would be subsidized. <br /> <br />Commissioner Fynewever questioned what would happen if the seminary no longer wished to own the <br />dormitory building. Planning Director Gundlach reported Global Academy could not own the dormitory <br />space but noted another private school with a college campus could take over this space. She <br />commented further on how this space could not be rented as public apartment units. She indicated the <br />dormitory may have to be demolished in order to build single-family homes. Mr. Beck stated if the <br />seminary no longer had a use for the dormitory space, it would go away and the SUP would have to be <br />amended. <br /> <br /> <br />Motion by Commissioner Frischman, seconded by Commissioner McQuillan to close the Public <br />Hearing. <br /> <br />Approved 7-0. <br /> <br /> <br />Motion by Commissioner Frischman, seconded by Commissioner McQuillan, to approve staff <br />recommendation directing staff to revise Condition #8 to ensure Global Academy families could <br />not use the dormitory. <br /> <br />Approved 7-0. <br /> <br />VIII. Commissioner Orientation <br /> <br /> This item was removed from the agenda. <br /> <br />IX. Adjournment <br /> <br />Motion by Commissioner Fynewever, seconded by Commissioner Biedenfeld, to adjourn the <br />meeting. <br /> <br />7 Ayes, 0 Nayes, Motion carried. <br /> <br />Meeting adjourned at 8:49 PM <br /> <br />Respectfully submitted, <br /> <br /> <br />Janice Gundlach <br />Assistant Director of Community Assets and Development/Director of Planning