This whole article is a story of assorted Communist Action Committees....

It was an in-house loan not a conventional or FHA though and had to be approved by the loan committee meeting at the bank.

Not all banks have the same loan committees and since they carry the paper, they make the rules. 

It affects the markets currently," he told the House Financial Services Committee.

Today with so many national,regional,and community banks holding defaulted land deals and half built out fractured projects nobody wants to touch land.If a bank employee put a land deal in front of a loan committee to fund it's a good way to get fired these days.

Wetlands is the only committee that can wreck your project and from what I understand if you fight it and win, you just get another chance to go in front of the committee. 

The REO is owned by a firm and there might be a committee who has to meet before a decision can be reached.

The park owner shall provide the committee a copy of the summary at or before the meeting.2. 

Happy hunting.Thanks for your advices and replies.If this property has real potential (location, size, etc.) and you are truly interested in developing it, then take a value proposition for a better/best use of the property to the City planning committee/department.If your proposal demonstrates better use (read: more tax revenue and neighbourhood improvement) for the City then Mayor's personal view on the property may change {or will not sway council if it does not}.

We plan to refinance with our commercial banker as soon as the units had been rented for long enough to make the committee at the credit union comfortable (our current quoted rate for a 5 year lock is 4%).We appreciate any advice or suggestions on whether this is worth pursuing.Thank you in advance for your time!