Developer looking to creatively meet buyer financing requirements by taking out common elements
Doing a development that will be whole ownership single family condo units (will have COA).. I know you can separate out the road as being a COMMON element but can you also separate out water and sewer utilities as being COMMON elements? Want to convey roads and utilities back to COA once they are all complete. Trying to offer a financing structure to prospective buyers that stipulates all common elements must be completed before take out financing can be approved (the program is nuts low interest and locked in rate for 15 &amp; 30 year terms, deposit on perm loan LTV range depending on credit can be 3%-10% of loan). Looking to creatively take out what normally would be common elements up front to get financing closed. Development is in Missouri also located in a CID that we control).

All the requirements for buyers to qualify for the perm financing loan:

1. at least 51% of all units sold and conveyed
2. HOA controlled by owners and turned over from developer
3. \*all common elements and amenities must be fully installed, completed and in operation\*
4. Project is not subject to additional phasing or add on's that have not been started

I have work arounds to all but #3 on this list! Any creative ideas or help would be appreciated greatly!
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