Staff explains WoodSpring sale and developer‑fee windfall amid questions about fee caps
Staff reported a $3.3 million positive variance in developer‑fee revenue driven by projects including HP4 and WoodSpring Apartments (sold in September 2025), and described how developer fees and gains on sale produced one‑time revenue that boosted this year’s results.
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Staff told the committee that real‑estate development revenue exceeded projections largely because of unanticipated developer fees and a gain on the sale of WoodSpring Apartments.
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