For the initial offering of lots in late 2004, why was the bid process used instead of selling on a 1st come 1st served basis?
It became apparent that demand would be far greater than the number of lots being developed. The development partners agreed that a sealed bid procedure would be the least controversial and the most reasonable method of selling. Prior to this decision only a few lots had been committed to prospective buyers or reserved by partners. Remaining lots will be sold through the multiple listing service.
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