A developer breaks a large project into three separate special purpose vehicles, each financed independently. This lets you sell pieces individually so each part pays for itself, isolating risk and getting to shovel-ready faster than one big "Adam-style" approach.
There's a first use. So doing it the way that Adam would want it done, we're eliminating that right there. This goes away because each one is then paying for its own. So now you need three separate entities to own each one of these before it becomes a shovel ready project. Right. So now we need to find a buyer for this one, a buyer for this one, and a buyer for this one. So that way, this one then can become its own spv, this one can become its own spv, and this one can become its own SPV eventually.
