Staff warns developer needs clear lottery rules; council asks for caps and flowchart
City staff told the council the developer/operator needs clear, pre-defined lottery priority rules because units must produce rent to cover debt service; staff proposed a capped priority with dynamic usage and asked council whether to set fixed partnership unit counts or allow priorities to float.
The full story
City staff told the council the developer and operating entity require clear, pre-established guidance on lottery priorities because the project's debt service and monthly operating budget depend on occupied units.
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