|Re: Special Assessment to complete Common House||<– Date –> <– Thread –>|
|From: Joani Blank (joaniswansway.com)|
|Date: Sat, 14 Aug 2004 21:27:17 -0700 (PDT)|
Another option would be for you to borrow money from a bank, or better yet, from one or a group of the current residents at a low rate of interest payable over a bunch of years, and make the payments out of your homeowners dues over as much time as you need to make it manageable. Also, remember that since you are deciding this as a group, you can put together kind of unconventional hybrid arrangement, where perhaps you decide to do a special assessment for a smaller amount, say one or two thousand per household, and borrow the rest from one of more of you.
I don't know if you've been collecting dues long enough to have enough $ in your long-term reserve to consider borrowing some of what you need to finish the Common House from that reserve (and pay the fund back with the same % interest it's currently earning), but that would be another way to go.
Joani Blank Swan's Market Cohousing Oakland, CAand Board Member, Coho/US..... Hey, Do subscribe to Coho/US snazzy new e-zine, if you haven't already done so (it's free, of course and now coming out with new contents every couple of weeks)! http://www.cohousing.org Psssst. If you already are enjoying the new e-zine, how about telling your coho-l friends who are not yet subscribed how cool you think it is. Since I'm one of the folks producing it, some may not trust my assessment of it.....
Joani Joani Blank 510-834-7399 Cell: 510-387-1315 joani [at] swansway.comwww.joaniblank.com
Special Assessment to compoete Common House Fred H Olson, August 14 2004
- Re: Special Assessment to complete Common House Joani Blank, August 14 2004
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