|Re: Financial structure advice needed for forming group||<– Date –> <– Thread –>|
|From: Stuart Joseph (stuartcaercoburn.org)|
|Date: Mon, 20 Nov 2006 08:14:30 -0800 (PST)|
We have 4 levels of membership: 1. Friend- doesn't cost anything2. Associate: nominal non-refundable fee to get involved and have options on full memberships 3. Member: full commitment to the project with a $20,000.00 discount for the folks that sign up early to reward them for signing up during the early stages. If the project doesn't fly because we can't get the permits or members want to pull out, they get their money back.
4. Member in waiting: for when we have a waiting list Full details can be found on our website: http://www.caercoburn.org Tom Hammer wrote:
Our forming cohousing group is looking for land, and we are in negotiation with a motivated seller. We are presently financially structured this way:We have 8 "equity households." Some of the householdsare "full equity members" and pledge to meet future calls for capital up to a limit of 10% of theapproximate cost of their future home.The other households are less able or willing to take the risk associated with the project and have stopped meeting cash calls after committing $2000. Our present agreement allows this and classifies this group as equity members with full input on decisions but with no ability to block consensus on "critical issues" as defined by the full equity members. Several of the 2nd group say they are fully committed to the project but cannot take more risk at present, but members of this group would like to have a full say in all consensus decisions. We all recognize a need for more capital in the near future, and the limited equity members recognize that their status puts more of afinancial burden on the full equity members. Some folks reason that we will attract more equitymembers if we maintain our different levels of financial commitment to encourage more to join, especially families with young children. Others say that we would be better served if all equity households made equal financial commitments and allanswered cash calls up to some pre-determined cap. We have incentives in place for early full cashcommitments and site selection priority for full equity households as well as offers of high interest on loans by early lenders.We very much need advice from successful communities. Did you allow large differences in financialcommitment such as we presently have, or did you have a fairly large basic financial commitment that was required of all to be a full decision maker? Could you please inform us how you structure(d) your membership and membership contribution? Please let us know what worked and what you would have done differently. Thank you. Tom Hammer for Concord Village _________________________________________________________________Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://www.cohousing.org/cohousing-L/
-- Stuart Joseph, 802-463-1954 Project Director Caer Coburn, a traditional village based upon and intentional communities Rockingham, Vermont, USA http://www.caercoburn.org
Financial structure advice needed for forming group Tom Hammer, November 19 2006
- Re: Financial structure advice needed for forming group Sharon Villines, November 20 2006
- Re: Financial structure advice needed for forming group Stuart Joseph, November 20 2006
Re: Financial structure advice needed for forming group Mac Thomson, November 20 2006
Re: Financial structure advice needed for forming group Michael Barrett, November 21 2006
- Re: Financial structure advice needed for forming group Sharon Villines, November 21 2006
- Re: Financial structure advice needed for forming group Michael Barrett, November 21 2006
- Re: Financial structure advice needed for forming group Dave and Diane, November 22 2006
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