Looks like Paramount is under Federal investigation for having failed to make agreed payments. 

Role-playing.     . you paid $300k 10 years ago, it’s worth $660k, (so when you sell you net $600k to make math easy.)and your cpa determined that you owned zero land, so it’s all depreciatable. you owe 15% on the $300k gain plus 25% tax on $109k depreciation recapture, so you owe $70k in federal taxes, then California reaches out for another $30k?  

A lot going on with the City government.

@Matt Weddon - make sure all reasoning & communication around the rejection stays clear of all federal AND state protected classes under Fair Housing.

If you have a taxable income of $50K and convert $60K to Roth, which adds to your taxable income, making your total taxable income $110K, how do you pay zero in federal taxes?

I have found some information that might be helpful John.There are government backed programs like Fannie Mae Homestyle Renovation Loan and Freddie Mac Home Possible Renovation Loan, in addition to the FHA 203k loan. 

Moreover, local governments may offer new incentives to developers to keep interest alive during this pause, such as tax abatements or infrastructure investments.ConclusionWhile the BlueOval City delay has caused uncertainty, it hasn’t changed the long-term outlook for the region’s real estate.

Quote from @Zach Engen: The federal savings bank does 5% down on vacation homes, talk to Jason Wray over there.Email? 

Yes, the government pays the Section 8 rent timely, but more and more tenants are having to pay a portion of their rent.

The local/ state etc (governing body) may not just "give you" one.