|Re: which groups are co-ops?||<– Date –> <– Thread –>|
|From: Craig Ragland (craigraglandgmail.com)|
|Date: Tue, 10 Jan 2006 12:27:25 -0800 (PST)|
Songaia WAS a coop (pre-construction) and spent a lot of time on becoming one. We believed it would be a harder road to hoe, but worthwhile because it seemed the most compatible with our values. In the eleventh hour, we gave up and switched to a condominium structure because of the lower interest rates available (>1% difference) and the behavior of the very few coop-friendly banks when it came time for them to actually make commitments rather than talk. I believe that our original decision to structure ourselves as a coop added about at least a year to our development cycle. I might also note, that it was also much harder for prospective members to understand and accept how they were really purchasing cooperative shares, rather than a unit. On the positive side, going through this pain together was bonding, which probably contributes to our low turn-over rate (1 sale in 5+ years).
which groups are co-ops? Lynn Nadeau, January 9 2006
- Re: which groups are co-ops? Odysseus Levy, January 10 2006
- Re: which groups are co-ops? Craig Ragland, January 10 2006
Results generated by Tiger Technologies Web hosting using MHonArc.