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.
Energy and location efficiency has also made financing easier to receive. The money is out there to be used for the qualifying individual. Jane Herrington stated that the Planning and Zoning Commission has a clear vision and they are ahead of where they think they are. Make sure the projects are Fanny Mae approved, use the lenders to your advantage by having them make sure that you are meeting the guidelines. Dave Tolen stated that you need to start small, you are going to make mistakes, be willing to adjust to the target market if it changes.