Re: Money and Greater Hartford Cohousing
From: Denise Meier & Michael Jacob (dmmjncal.verio.com)
Date: Tue, 11 Apr 2000 09:43:30 -0600 (MDT)
I would strongly recommend you talk to an accountant and get some advice
about this. In our case, we had well over a year with each household
putting in $20/month, and when we started putting in "real money" we
balanced it all out so that everyone had put in the same amount. (i.e.
credited all the $20 contributions toward the $2000 we asked for all at
once.) We considered everything everyone put in as part of their capital
contribution.

Once we had units designed, priced, and assigned, capital contributions
became proportional to the unit size cost. That is how it worked until
move-in, and even now when we are having a post-move-in capital call to
settle our debts.

However, your mileage may vary depending on what legal structure you set
up and how you and your accountant choose to set things up.

Denise Meier
Two Acre Wood
Sebastopol, Northern California

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