Environmentally Friendly Land Development Financing?
Hope this is the right place to ask. Say someone owned 20 acres of land, including a wetlands bordering the property. And say they wanted to develop this land using eco-friendly development programs. Geodesic dome homes. Geothermal energy resources in the homes and Artesian well water supply.
Does anyone know how to get the best financing for such a project, (not knowing where to start but with just a dream), as a woman? Special programs, financing, etc...The applicant even has native (Indian) blood. A 1/4 from each of two tribes. But, as she says, if it's there at a fraction of the cost it's not really worth speaking about. lol Unless it helps her environmental project. ;)
Constructive advice appreciated. The person who put me up to this can't afford to keep the land as is, but doesn't want to sell out to the usual McHouses developers because she loves the property she grew up on. (Any advice on how to keep it other than development is more than welcome). Thank you for reading
- 1 decade agoBest Answer
For financing I'd suggest starting at your local business oriented bank/credit union. Chances are you/your friend will not be able to secure several million $ to develop homes on the property all at once, but may be able to finance one home, sell it, then have the capital to do a second, etc.
Rather than developing, you could look into alternatives like a land trust. Some areas will give significant tax breaks, if not eliminate them completely if you pledge to never develop the land.
Could also look at donating the land to the government with the stipulation it is turned into green space. I can't say I know how to go about that, but contacting local government would be the place to start.
If the end goal is to make a buck, you could look to partner with an established developer and work with them to create your vision. You'd probably need some serious help from a team of lawyers for that.
- carhartLv 43 years ago
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