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Commissioner Bird requested that Attorney Stewart elaborate <br />further on the use of the 4 unit building and how it relates to <br />the overall project. <br />Attorney Stewart noted that actually ownership and use of <br />the property are somewhat distinct issues, and the way it is <br />owned really has nothing to do with the way it is used. He then <br />discussed financing techniques, noting that most of the large <br />hotel chains have developed hotels through the financing <br />technique of marketing villas in the condominium form of <br />ownership. Mr. Nutt's thought, with regard to this particular <br />project, was to take the initial 4 unit villa and use it as a <br />model and administrative center for the purpose of marketing as a <br />financing technique in a condo form of ownership with the clear <br />understanding that it must be operated as a hotel. He believed <br />such projects actually are indistinguishable from hotels built <br />with the usual hotel ownership. Attorney Stewart assured the <br />Board that they understand that the zoning doesn't permit regular <br />condo ownership, and it is not intended any of the villas will be <br />used that way. He reiterated that the four unit building will <br />not be used as a hotel until the project is completed as a whole. <br />Commissioner Bird asked the County Attorney if this is a <br />legal procedure, and Attorney Brandenburg stated that he would <br />need more specifics to make a determination. <br />Director Keating noted that even though Attorney Stewart <br />states ownership and use are two different characteristics, if it <br />is a condo type ownership, staff needs to see documents to <br />determine who is responsible for maintaining open areas, etc. <br />Commissioner Scurlock commented that he is familiar with the <br />concept Attorney Stewart described, and Commissioner Bird agreed <br />financing has been handled this way, but if that is the intent, <br />he believed the owners should coordinate with staff and make sure <br />they don't waste time on a project that won't fly in this county. <br />Attorney Stewart confirmed that they understand they have to <br />assure the County Attorney that the documents are suitable. <br />55 <br />FEB 2 0 1985 BOOK 59- F,.,F 961 <br />