|RE: Capped Equity||<– Date –> <– Thread –>|
|From: Raymond D. Gasser (raygasserdelphi.com)|
|Date: Fri, 6 Feb 1998 17:40:13 -0600|
At EcoVillage at Ithaca we put in what we call a "flip tax". We don't cap equity, but if a house gets resold, the co-op gets back 20% of the profit after taking into account improvements, inflation, etc. The proceeds are supposedly earmarked for affordability issues. Ray Gasser, EcoVillage at Ithaca raygasser [at] delphi.com where we've got one or two units coming on the market, but they look a lot better in the spring when we're all outside planting!!! At 09:11 AM 2/6/98 -0600, Floriferous [at] classic.msn.com wrote: >Putting caps on equity may cause banks to have problems loaning to your >project. > >Rob Sandelin >---------- >Our group in Hartland VT. is discussing Capping Equity on the resale of homes >in the future. > >I have only seen equity caps tied >to initial subsidy, with the intent that the subidized homeowner not profit >from the subsidy, thus also retaining the subsidy to the next purchaser. > >Has anyone see or been part of a system that caps unsubidized homes? > > >Robin Ellison >Hartland Co housing >>
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