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26Multi-UnitNewAffordableRentalHousingDEvELOpMENTNOTES1.x1dx1dUsex1drealx1destatex1dbrokersx1dexperiencedx1dinx1dlargerx1dcommercialx1dtransactions.2.x1dx1dBex1dawarex1dthatx1dlandx1dcostsx1dwillx1dbex1drestrainedx1dbyx1dlocalx1dgovernmentx1dsourcesx1dwhichx1darex1dtypicallyx1dlimitedx1dbyx1dthex1dappraisedx1dvalue.3.x1dx1dDonx19tx1dxatex1donx1dthex1drstx1dsitex1dorx1dprojectx1dyoux1dndx1dorx1dfocusx1donlyx1donx1donex1dproject.x1dx1dInx1dmostx1dinstancesx1dyoux1dwillx1dndx1donex1dpossiblex1dprojectx1doutx1dofx1dseveralx1dthatx1dyoux1dinvestigate.4.x1dx1dNegotiatex1dongoingx1dfeesx1dwithx1dlocalx1dgapx1dlendersx1dwithx1dresidualx1dreceiptx1dnancingx1dtox1densurex1dthatx1dexcessx1dcashx1d5owx1ddoesx1dnotx1dgox1dtox1drepayx1dthex1dgapx1dloanx1dinsteadx1dofx1dgoingx1dtox1dmanagementx1dfeesx1dorx1dprojectx1dservices.5.x1dx1dMakex1dsurex1dtherex1disx1dcushionx1dinx1dthex1ddevelopmentx1dbudget.x1dx1dYoux1dwillx1dneverx1dhavex1dtoox1dmuchx1dmoneyx1dandx1dexpectx1dthex1dmostx1dunexpectedx1dreasonsx1dforx1dcostx1dover-runs.x1dx1dItx1disx1ddifcultx1dtox1dgox1dbackx1dtox1dequityx1dandx1dgrantx1dsourcesx1dforx1dmorex1dfunds.6.x1dKeepx1darchitectx1dinx1dcheckx1dforx1dcostx1dpurposes.7.x1dKeepx1dlawyersx1dinx1dcheckx1dforx1dcostx1dpurposes.8.x1dKeepx1dconsultantsx1dinx1dcheckx1dforx1dcostx1dpurposes.9.x1dx1dDox1dnotx1dbuildx1dforx1dcashx1d5owx1dorx1ddeveloperx1dfeesx1dbenetsx1dtox1dthex1dcommunityx1dwillx1dalwaysx1dbex1dgreaterx1dthanx1danyx1dnancialx1dreturnsx1dyoux1dwillx1dgenerate.10.x1dx1dThex1dstrongerx1dthex1ddevelopmentx1dteamx1dthex1dstrongerx1dthex1dprojectx1dandx1ditsx1dabilityx1dtox1dndx1dsolutionsx1dwhenx1dproblemsx1darise.11.x1dx1dHavingx1dservicesx1dandx1dprogramsx1dforx1dthex1dresidentsx1dwillx1dmakex1dax1dsignicantx1dimprovementx1dinx1dthex1dprojectsx1dlongx1dtermx1dviabilityx1dandx1dsuccess.x1dx1dOtherx1dfamilyx1dorx1dcommunityx1dservicesx1dmayx1dbex1daddedx1dtox1dsupportx1dtenantx1dneedsx1dbutx1dthesex1dcostsx1dandx1dservicesx1darex1dusuallyx1doutsidex1dofx1dthex1dprojectx1dnancingx1dstructure.x1dx1dIfx1dtherex1disx1dexcessx1dcashx1d5owx1dgeneratedx1dbyx1dthex1dprojectx1ditx1dwouldx1dbex1dbenecialx1dtox1daddx1dthisx1dintox1dthex1dpro-formax1dversusx1dusingx1dexcessx1dcashx1d5owx1dtox1dpayx1dbackx1ddifferedx1dloansx1dfromx1dthex1dcity.12.x1dx1dIfx1dyoux1ddox1dnotx1dhavex1dexperiencex1dconsiderx1dpartneringx1dwithx1dsomeonex1dwithx1dextensivex1dexperiencex1dandx1dwithx1dsomeonex1dyoux1dlike.x1dYoux1dwillx1dbex1dwithx1dthemx1dforx1d15x1dyearsx1dorx1dmorex1dworkingx1dcloselyx1dinx1dstressfulx1dsituationsx1dleadingx1dupx1dtox1dthex1dclosingx1dofx1dthex1dnancingx1dandx1dmanagingx1dthex1dunitsx1doncex1dtheyx1darex1doccupied.13.x1dx1dMakex1dsurex1dyoux1dhavex1dstaffx1ddesignatedx1dtox1dbex1dthex1dpointx1dpersonx1dorx1dx1cquarterbackx1dx1dforx1dthex1dproject.x1dx1dHeshex1dwillx1dbex1dresponsiblex1dforx1dcommunicatingx1dwithx1dstaffx1dandx1dmanagementx1dandx1dwithx1dallx1dofx1dthex1dprojectx1ddevelopmentx1dteamx1dmembers.x1dx1dTheyx1dmustx1dbex1dresponsiblex1dandx1dhavex1dthex1dabilityx1dtox1dmulti-taskx1dassignments.14.x1dx1dNegotiatex1dhardx1dwithx1dyourx1dinvestor.x1dx1dIfx1dyoux1ddox1dnotx1dhavex1dthisx1dskillx1dusex1dax1dconsultant.x1dx1dTotalx1dpurchasex1damountx1dtermsx1ddatestimex1dofx1dequityx1dpaymentsx1dandx1dexitx1dtermsx1darex1dallx1dnegotiable.x1dx1dFinalNoteDevelopmentx1dofx1dmultix1dunitx1dprojectsx1disx1dnotx1deasyx1dandx1drequiresx1dax1dstrongx1dcommitmentx1dfromx1dthex1dorganizationx1dandx1dthex1dmembersx1dofx1dthex1ddevelopmentx1dteam.x1dx1dThex1dgoalx1dcanx1dbex1daccomplishedx1dwithx1dthex1dsupportx1dofx1dthex1dcommunityx1dlocalx1dgovernmentx1dandx1dinterestedx1dnancialx1dinstitutions.x1dx1dItx1disx1dmostx1dimportantx1dtox1dhavex1dstaffx1ddedicatedx1dtox1dthex1dprojectx1dandx1difx1dtheyx1ddox1dnotx1dhavex1dthex1dexpertisex1dlocatex1dresourcesx1dtox1dsupportx1dandx1dguidex1dthex1deffort.Thisx1ddocumentx1disx1dintendedx1dtox1dbex1dax1dguidex1dthatx1doutlinesx1dsomex1dofx1dthex1dkeyx1dissuesx1dandx1didentiesx1dpossiblex1dsolutionsx1dandx1dsteps.x1dx1dItx1disx1dnotx1dintendedx1dtox1dbex1dyourx1dsourcex1dsincex1deveryx1dprojectx1dhasx1ditsx1downx1dissuesx1dconcernsx1dandx1dpeculiaritiesx1dandx1ditsx1downx1duniquex1dsolutions.x1dx1dThex1ddocumentx1disx1dnotx1dintendedx1dtox1dencouragex1danyx1dorganizationx1dintox1dprojectx1ddevelopmentx1dbutx1donlyx1dtox1dlayx1doutx1dsomex1dofx1dthex1dkeyx1dstepsx1dandx1dissuesx1doncex1dthex1ddecisionx1disx1dmadex1dtox1dproceed.