Because if the bank loan officer and a complicit and shady underwriter were actually able to approve a 5M dollar loan without a committee review, they would get fired after the borrower lost it when the project tanked because he has no experience handling such a project. 

Here are a few local resourcesOne ColumbusColumbus 2050 BlueprintColumbus Crane Watch- Interactive MapColumbus DevelopmentColumbus Downtown Development CorporationCity of Columbus Capital ProjectsColumbus NeighborhoodsOpportunity ZonesOpportunity Zone ProspectusTax AbatementMid-Ohio Regional Planning Committee

Hello, I am going to be the 2024 President of the Land of Sky association of Realtors, and the other agent in my firm, is the chair of the affordable housing committee.

I would recommend setting up a team:RE Lawyer/Title RE AccountantProperty ManagerMortgage Broker and/or BankerProperty (Home) Inspector / Construction Engineer ( 50 units or more)If the PM does not have an insurance agent then getting one for yourselfRealtorLitigation Attorney that specialize in EvictionsOptional but recommendedLike Kind Exchange ManagerChamber of Commerce rep ( Development Committee member)City Council memberAsset Attorney/ Accountant for if you plan on doing a private offering or syndicating funds.Hope that helps, having a team in place helps a lot for big deals. 25 k

With the proposed lot descriptions, existing description and package, file for the change and if you're good to go, you will go to a board or committee meeting for a hearing style approval.

What is the likelihood of a zoning committee allowing a change of use to a 8-plex (or more)?

The Federal Reserve’s Federal Open Market Committee raised the target federal funds rate to 0.75 to 1.00 percent on Wednesday; federal rate hikes typically influence private lenders to raise consumer rates including mortgage rates.In a post-meeting statement, Fed officials said that the federal funds rate remains accommodative and will continue to sustain economic growth and the Fed’s goal for a long-run inflation rate of 2.00 percent.

Or the committee could have just decided - no. 

Many times historic preservation committees are only concerned with the exterior appearance of the building, meaning you may not be allowed do things like add onto the structure, use vinyl siding, and you may be limited on the style of doors and windows that can be installed, etc.

I suggest you personally visit with the sr. vp. of lending or the president of a small bank, while these mid ans small banks will have a loan committee, that committee is usually swayed entirely by the head guy, it's an opportunity to pass the buck.