Helping Idea Needed!
We have signed a contract with a local builder in Sacramento (Natomas North). Now they are giving us something they call a disclosure on flood potential if the Sacramento river levvy breaks. What they failed to disclose us that the whole area used to be a flood area before the builders lobbied congress to change that. Yay! We can now buy flood insurance at least at an affordable price!! My question is should we just bail (walk away) from this deal? My instinct says that the market is turning and it is to our advantage to wait a little even if we lose the $3000 we put up. Any ideas?
If we deny signing this document we might even get our monies (3000.00) back) - I think this stinks to high heaven!!!! New Orleans deja vu....
congratulations! Nothing like spending a ton of money on due dilligence!!!
The development is progressing nicely right now.
We have been informed through our engineers that the Town engineers will be granting us a NEG DEC during our next planned meeting with them and the Board in December! Additionally, they are not requiring any determination from the Army Corp of Engineers (we are disturbing less than 1/10 an acre of Federal wet land). These two items alone saved us over an additional year of scrutny and a whole bunch of $$$$.
Should receive prelimiary approvals once the public hearing is over. The hearing will be posted for 60 days and advised as well during the December meeting.
Then all we need to do is drill a few wells for water quality and then have the health dept on-site to witness one deep hole and one perk on each lot.
Will post on any further developments.
Tonight will be a landmark meeting with the Town Planning Board!
Been advised by the town consultants that we should be receiving a negative declaration and notice to set a public hearing at tonight meeting!!
Almost there! YEA!
Also been advise by my engineers that receiving a neg dec 15 months into the process and given the size of our development (50 lots), that this is unheard of!
Being local and being SEEN has paid off in the long run. I usually go to all the meetings of substance and even run into the Chairman of the Planning Board in the gym often. It still all boils down to politics!
RECEIVED PRELIMINARY APPROVAL TONIGHT!
WOOHOO
Congradulations. I started out with a 10 lot subdivision development 2.5 years ago. It is down to 7 lots now. After having proved that there were no endagered animals living on the land, the city suspected that there were some endagered plants. That took another 6 months to establish that it was not the case. You must be pleased with you preliminary approval. You are dead right about the politics.
talk to a local attorney that sets up condo associations and does commercial closings. They will be able to give you the most insight into local state laws for condos or land subdivisions (go talk to the local zoning office too!!), as well as having insight about typical lender practices and title issues.