|Re: Foundation/Agency Funding||<– Date –> <– Thread –>|
|From: Joani Blank (jeblankhooked.net)|
|Date: Thu, 19 Dec 1996 02:11:12 -0600|
Marti, 1) Southside Park CoHousing received a loan from the Northern California Community Loan Fund. I believe it was used to upgrade the kitchens (and bathrooms?) in their 11 affordable units, so that they are indistinguishable from those in the market rate units. 2) I don't understand why you are considering a separate mortgage for your common house. In the condominium form of ownership, each household/owner owns what is called an "undivided share" of the common facilities. That includes the real estate and the all of the buildings up to the sheetrock in the units. Starting from the wallpaper in, each household solely owns its own space. Your undivided share is part of the purchase price of your condominium and therefore is paid for by your permanent financing. SInce your group--Wasatch CoHousing in Salt Lake City in case others are just tuning in--is its own developer (I think), each household will be buying its individual unit from the cohousing group in whatever legal form the group has taken (partnership? limited liablility company?) Joani Blank Doyle St. CoHousing (Emeryville, CA) and Swan's Market CoHousing (Oakland, CA)
- Re: Foundation/Agency Funding Joani Blank, December 19 1996
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