If Buyer cannot obtain Buyer Approval, Buyer may give written notice to Seller within days after the effective date of this contract and this contract will terminate and the earnest money will be refunded to Buyer.

I'm a bay native and have never heard of the town before this, but I imagine with the insane growth here it is only a matter of time before it's discovered (also new development plans and growth happening).  

I am very positive in the long term but positive development like this is very far away from the block by block dynamics of St.

They are already getting a development fee.

In some areas subdivision can take 1 year to get all approvals.Even condo documents, must be drawn by an attorney and recorded at the courthouse can cost $5,000 to $10,000 themselves.Before we did out first condo conversion, we had experience in land subdivision and development which aided us in understanding and expediting the process. 

I am working on a mock real estate development project submission, and I am looking for some general rules of thumb on how best to estimate the following:1.  

I'll share this with the developers.

Regarding paying down you IRS debt,  paying down debt that is costing you 10% has the exact same effect as investing that money somewhere that earns you 10%.

How effective is it for generating section 8 leads? 

The more you know the better2. develop a plan...with expectationsIt doesn't have to be elaborate, but have a plan and set goals3.