This process does not take a lot of experience just the proper data. Discussion was then held. He acknowledged that the Master Plan process will give us the data that we need to fill in the blanks. He then asked for the guests to give their final thoughts. Howie Mallory stated first you need to find financing, then a developer.
Deed restrictions tend to get a bad name, stigma less than desirable.
From a lenders point of view the deed restrictions are a dream. On the developers side there is demand for each one of the units made available, you can reduce the risk by having a presale agreement. The housing authority should have first choice of refusal if unit is going to be sold. They are comfortable going after these types of projects. Blue Lake is a good example of what mortgage lenders are looking for.