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Specifically, we feel several key components of the proposal are <br />favorable: <br />1. The adaptive re -use exemption <br />2. The SB 1818 concessions for projects above 20 units <br />3. The 15% moderate level income requirement for for -sale projects <br />4. Allowing a reasonable in -lieu fee for projects below 20 units <br />Our only suggested modification to the proposed update would be to <br />encourage the City Council to consider increasing the threshold for <br />allowing the in -lieu fee to be utilized from 20 units to 50 units. <br />Thank you for your thoughtful consideration. <br />Respectfully, <br />Michael Balsamo <br />Chief Executive Officer <br />