There should not be spacing between bullet pointed items and there should be spacing between the two chunks of links and the text under it to look like this:
I'm having a little hard time following the snippet as I can't tell what is part of the snippet and what is the forum software formatting things. (Pro tip: use [snippet]...[/snippet] around your snippet text in the forum to have it formatted nicely like the examples below)
I think the key issue is related to the section that looks like this simplified example:
As in your issue there is an extra space between each newline. That's because we have a newline after the {repeat} and also a newline before the {endrepeat}. So we have two new lines between each item.
To fix this there are two basic approaches. One is to simply get rid of one of the newlines like so: