The POA Baord arbitrarily selected some Homeowners to be a part of committees.

The drawback that I've found with them is that loan approval is by committee.  

Income restricted (but you still have to make enough to qualify for the mortgage, so it's a very narrow band of persons that can actually buy it), and can only be sold to you for at most a price decided by some government committee, no matter what it's truly worth.

Plus loan committees do not like hearing the the borrower does not want to guarantee the loan...I would also ask them to finance 80% of the cost or 75% of the value, whichever is less.  

This view has been reinforced at the Short-Term Rental Advisory Committee and is laid out on the city's Airbnb FAQ pageas well.I work with a lot of buyers who are trying to find that basement apartment because if done right -- good furnishings, well-designed, bright photographs, and good customer service -- you can make a killing doing this on Airbnb. 

@Jonathan GreeneI joined the market center committee this year and one of the topics we debated for months was about new agent on-boarding.

And odds are that a lender at a local bank will be familiar with what their loan committee likes...and...doesn't like.

With the city counsel and  our redevelopment committees are looking to promote and invest to help on the micro brew end I feel like I might have failed a bit here.

I kid you not, it was something like 50 pages, and it had every conceivable scenario that the project manager would have to fact check in order to get the deal approved at Land Committee.

Flexibility also means that if it doesn't fit in with what their loan committee believes they should focus on, the flexibility might not be in your favor :-)