Re: Development Financial Structure
From: Kay Argyle (
Date: Wed, 27 Nov 2002 11:37:01 -0700 (MST)
During planning & construction, memberships in Wasatch Cohousing cost $300
per adult, and then $400/month per household (or maybe I've switched the two
amounts). The monthly assessment was credited against the mortgage down
payment, and the difference repaid if it totaled more (which for long-time
members it did).  Options or customizations were paid for in cash at
closing.  If someone left the group, they got their assessment money back
after the construction loan was paid off, when all the units were closed on.

The bank required the group to come up with a percentage of the construction
loan, I think 10%. Six members (the "deep pockets") made low-interest
personal loans of $60K each.


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