In response to Our revenue model:
You'll also need to access pre-development and construction financing. This can be easier if you have pre-approved buyers, but to achieve your timeline and scale you'll need to focus on your sources of sustainable capital.
In response to How we use technology in our project:
The greatest strength of this project is the knowledge of the local community and a pledge to root housing approach to cultural norms while leveraging technology. That part is quite strong. Where I think this project will struggle is the capital stack. If they are to reach scale as envisioned in the narrative, they will need to secure predevelopment funding, construction money and assist potential homeowners in accessing financing.
Grant funding can support some, but to scale, the financing portion of the plan will have to be as innovative as the technology piece.
Taking a look at Native organizations that are doing this successfully and self-help housing models could be helpful. There are some in the region.
In response to Our revenue model:
Suggest looking at the development of a revolving loan fund or partnering with a Native Community Development Financial Institution (CDFI) to raise money for a revolving loan fund. Lending and servicing require specialized skill sets, so partnering would be most efficient.
In response to How our project will be accessible and affordable to our community:
Is there a plan to create sustainability and scale in the model? Will you use 184 loans for homebuyer mortgages? How will you create solutions/protections for both Tribal lands and lenders should a default or delinquency occur?
In response to Second city:
Wondering what the land ownership structure is in the various communities listed. If the land is tribal jurisdiction land will there be any challenges with land ownership for homeownership that haven't been considered?
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