Re: Reserve Studies
From: Robert Heinich (
Date: Wed, 9 Aug 2006 05:54:39 -0700 (PDT)
Laura is my neighbor at Eno Commons.

Of the $100 monthly HOA dues each household pays at Eno Commons, $15 is towards capital projects, This $15 is what we used to pay back what we have borrowed from the reserves. With 22 households, this generates about $4K/year. However, we have limited ourselves to borrowing a max of $25K from the reserves.

This prudent borrowing and fundraising allowed us this year to build the play structure, build The Barn (workshop) and to start construction on the Common House upstairs (guest rooms!).

So by being creative, we have been able to keep our dues constant and avoid assessments to fund capital projects which we enjoy today.

-Robert Heinich
Eno Commons Cohousing Neighborhood
Durham, NC
where I hope to have a picture of The Barn on our community postcard section of our website
as soon as I can gather the principles together for a photo

----- Original Message ----- >
Jessie Handforth Kome of Eastern Village Cohousing said
Where state law allows, groups can do what Laura Benedict of Self-Help
Credit Union taught about at the national conference and borrow from the reserve
(and repay with good interest) to do additional capital projects.  This
practice actually leverages the reserve to increase total community physical and financial value.

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