|Re: Money again; Seward in Mpls||<– Date –> <– Thread –>|
|From: Fred H Olson -- WB0YQM (FRED%JWHvx.cis.umn.edu)|
|Date: Tue, 3 Aug 93 15:55 CDT|
The Seward Cohousing Core Group continues to muddle along waiting for a conclusion about the severity of the underground petroleum tank leak pollution on the 'UVB' site. More investigation has been done and a report written but we have yet to get a copy so we can get a 'second opinion' -- an independent interpretation of the test results. We have been looking for other sites but so far none is nearly as appealing as the UVB site in Seward. But we have a long way to go. The pollution related uncertainty and delays have taken a big toll on our group -- nearly 100% turnover since we started 15 months ago. We currently have 10 households (7 with a single adult) of which several have not been very active. RE: Money again Our group specifically wants a site in the city of Minneapolis. I expect, on any site, we would work with a community development corporation to develop our community and hope to get city help with site acquistion. These connections will also hopefully facilitate getting financing. BTW, I expect that working with a community development corporation will give us less independence in planning our community but I think it is not a major problem and well worth accepting such a partnership. Besides as we all know there are plenty of limitations on most groups planning and design - planning and zoning restrictions, financial institution's requirements including 'second use' considerations for example. We too have considered approaching the Coop Bank tho we have not yet done so; at what stage of the process does such contact make sense? I dont recall where I heard this but I recall hearing that they were likely to respond to all of the cohousing requests for money by picking one (or a few?) to finance as sort of a trial or demonstration. For this they would presumably pick proposals that look particularly attractive by some unknown criteria. Another source of financing that seems like it might be a nice fit with cohousing is the socially responsible investment funds such as Working Assets and Calvert Fund. At a recent socially responsible investmenting conference here in Minneapolis some informal discussion took place between a cohouser ( Mark Deziel who's not on the list) and fund people that sounded promising. Fred Olson, Seward Cohousing Core Group (Minneapolis) (As COHOUSING-L sysop this note: We've ~100 subscribers now. Also, to get off the list send message: "unsub cohousing-l" to listserv [at] uci.com)
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