question 11 fully explained

Question 11 Russ is a developer of luxury hotels who is trying to enter the South Florida market. To this end, Russ is considering the purchase of a 200-acre plot of land 100 miles to the west of Fort Lauderdale, but he is having a lot of problems dealing with local municipal authorities who continue to deny him a permit to build his hotel. (a) Russ has entered an option contract with the owner of this 200-acre plot of land. How does this option contract help Russ minimize the risk associated with this investment? (3 points) (b) The municipal authorities have refused to grant a permit to Russ to build this hotel on the basis that the hotel will have an adverse impact on the community. What argument(s) can Russ make to local zoning authorities to reassure them that there will be no adverse impact? (3 points) (c) In addition to what was mentioned in part (b), the location where this 200-acre plot of land is located is nof zoned for commercial use. In addition to a permit, what must Russ also apply for in order to build this hotel? (3 points) (d) Presuming that Russ is able to get this hotel built, why must he also worry about being able to obtain a certificate of occupancy? (3 points)