Re: Membership sale agreement questions
From: Larry Henson (
Date: Wed, 20 Apr 94 10:17 CDT

The discussion on this topic has solidified what I think should be the 
structure for Violet Crown. I like the way Sharingwood has done things.

I have a question for Rob. What is the relationship between the coop and
the condo association. Is the development financed through a single loan
or can each unit be built by its prospective owner?

Here is what I believe to be a reasonable way to proceed. Any criticisms?

1. Concurrently, find land and research incorporation as a coop.

2. Incorporate as a copp.

3. Get members with membership fees to purchase land purchase.

4. Purchase land.

5. Concurrently, subdivide land, impose deed restrictions, and design common
   area layout.

6. Concurrently, sell lots, get purchase agreemnts, design strutures, and
   find builder.

7. Get construction financing.

8. Break ground.

I am not clear on how the condo association fits in.

Larry Henson
Violet Crown Cohousing
Austin, TX

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