|Site Finances and NYS question||<– Date –> <– Thread –>|
|From: Rod Lambert (rodecovillage.ithaca.ny.us)|
|Date: Sun, 15 Oct 2006 19:22:59 -0700 (PDT)|
Shari, As Development manager and design coordinator of a new ecovillage, - "White Hawk" - based on cohousing south of Ithaca on 120 acres of land, I can give you some ideas per your 2 questions below:1. While not required it will make more sense to incorporate the land cost into eventual mortgage costs. Banks will evaluate the homes to include land cost. So the value is there to roll the land cost into the homeowner's mortgage.
2. I have often been told that NY is one of the most regulated states in the union. I'm sure it is one of the reasons for birthing problems. The offering plan required by the Attorney General is quite daunting. There are ways of mitigating the expense and time but at the very least one must submit a request for exemption which is not without substantial time and money. Lack of adequate skill sets ( eg.group dynamics), site selection, initial risk money/affordability, are among the other reasons that groups fail. I think there may be list of failure reasons on the CoHo website by now? I often find myself saying that the hardest part to get right is the social dynamics from which it seems everything else flows. I often imagine a visitor from a "third" world country having quite a laugh to hear how hard it is to create something as simple as a little village in this country. Hope this helps,Rod
Sharilyn Rediess wrote: <<Date: Sun, 15 Oct 2006 08:43:12 -0400 From: "Sharilyn Rediess" <sredies1 [at] rochester.rr.com> Subject: [C-L]_ Site Finances and NYS question To: <cohousing-L [at] cohousing.org> Message-ID: <200610151243.k9FChFVo004806 [at] ms-smtp-02.nyroc.rr.com> Content-Type: text/plain; charset="us-ascii" Greetings, I am new to this list and am part of a newly forming Rochester NY Cohousing group looking into developing on an urban infill site (among other possibilities for urban cohousing).I have two questions:
First, can someone tell me whether the purchase of land is ultimately rolled into the unit cost, or is that a separate upfront cost that is never reflected in the mortgages residents take out for their units. I've read the usual books and websites and can't quite tell how that works (or maybe the books are clear on this but I am hoping that it is eventually rolledinto the mortgage and am looking for an answer I like ;) .
Second, I am wondering why there are so few cohousing groups in NY state and wonder if there are regulatory issues in NY that make it more difficult. NY has a rep for having old and often oppressive regulation on a number of things, so I'm wondering if that is a factor. I'm aware of EcoVillage in Ithaca, but on the Cohousing Members list there are only three other groups listed (and NY is a big state). Our city has a history of being home to lots of progressive groups and yet as far as I am aware there was only one cohousing group and it fizzled out a while ago. Thoughts? Thanks all. Shari Rediess As yet un-named Rochester Cohousing Group
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