Re: Your bank loan
From: Conkling, Rowena (Conklingvolpe1.dot.gov)
Date: Fri, 30 Aug 1996 07:06:14 -0500

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From: cohousing-l
Subject: Re: Your bank loan
Date: Friday, August 30, 1996 1:02AM




Willie said - we only required a 5% deposit -

If you only asked for a 5% deposit, how did you pay for your land and for 
architects, lawyers, and other development costs?  I realise land in other 
places is notthing like as high as it is in Eastern cities like Cambridge, 
but that seems like a VERY small investment.  We are asking those who can to 
put up 30%  overa period of several months (and other members are lending 
additional amounts at moderate interest rates)  to cover land, development 
costs and equity for a construction loan.

RowenaC
Cambridge Cohousing

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