Re: Seeking input on compassionate HOA calculation
From: Larry Miller (larry.millercharter.net)
Date: Wed, 12 Dec 2007 15:02:04 -0800 (PST)
For those of you w/ humanitarian funds, how do you continue funding them?

Early on, it was decided that a major goal of the "affordability fund" was that 
it would be self
sustaining. As a result, the fund does not issue grants, only loans or other 
forms that will
eventually be paid back. The bulk of the money went to an equity share 
arrangement to make one
of our units much more affordable to one family. Otherwise, money is lent out 
either as a lump
sum or by deferring homeowner dues for some period to get a member through a 
difficult financial
period. Typically money is lent for 6 months to 3 years.

Larry Miller
Oak Creek Commons





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