|Re: co-op organization||<– Date –> <– Thread –>|
|From: Audrey Watson (audreygalisteo.com)|
|Date: Mon, 9 Feb 2009 18:06:25 -0800 (PST)|
Well, Winslow Cohousing is a co-op, but the shares sell at "market rate", so unfortunately we have not solved the affordability problem. The price of a unit goes up similarly to equivalent condominiums, altho buying shares in the co-op gives you a lease to live in that unit, and then share ownership of all the commonly owned buildings and land. --audrey
Message: 1 Date: Sun, 8 Feb 2009 15:08:23 -0700 (MST) From: balaji [at] ouraynet.com Subject: Re: [C-L]_ Urban Affordable Cooperative Cohousing Communities. To: "Cohousing-L" <cohousing-l [at] cohousing.org> Message-ID: <50014.69.169.141.94.1234130903.squirrel [at] squirrel.ouraynet.com> Content-Type: text/plain;charset=iso-8859-1 Ed,Would you be able to send me a copy of your limited equity agreement? Thanks very much!
Charles Nuckolls Utah Valley Commons www.utahvalleycommons.com
> > Hi, > Santa Rosa Creek Commons in Santa Rosa, CA is a limited-equity coop. The > coop 27 units on two acres near downtown Santa Rosa. > > SRCC follows California state law regarding "limited equity," which is > that, > in any given year, the share can increase in value by no more than 10% of > the cost of the original share price. > > Ed Flowers > Yulupa Cohousing > Santa Rosa, CA > > ----- Original Message ----- > From: "Fred H Olson" <fholson [at] cohousing.org> > To: "-cohousing-L mailing list" <cohousing-l [at] cohousing.org> > Sent: Sunday, February 08, 2009 6:41 AM > Subject: Re: [C-L]_ Urban Affordable Cooperative Cohousing Communities. > >>> >> Joani Blank <joani [at] swansway.com> >> is the author of the message below. It was posted by >> Fred, the Cohousing-L list manager <fholson [at] cohousing.org> >> after deleting remains of digest. >> -------------------- FORWARDED MESSAGE FOLLOWS -------------------- >> >> Joelyn, Jennifer and others, >> >> As far as I know, there are only three cohousing communities in the >> nation that are structured as cooperatives. They are Winslow Cohousing >> on Bainbridge Island in Washington, Eco-Village at Ithaca (don't know if >> their two, going on three, adjacent communities are one coop or are two, >> soon to be three, separate coops), and I can't remember which is the >> third. Berkeley Cohousing struggled long and hard to to decide whether >> to be a condo or a cooperative, and ended up getting the city to make a >> new designation just for them, a limited equity condominium. >> >> I've heard that the main reason there are not more coop cohousing >> communities is that it is extremely difficult if not impossible, to get >> construction financing for a cohousing community that plans to be a >> coop. >> >> As a person who converted her business into a worker cooperative (ask me >> if you want to know more about what that is) after 15 years of sole >> ownership, I'm much taken with cooperatives of all kinds (coop retail >> stores ....aka consumer coops....and food coops, preschool coops, >> student housing coops, agricultural coops), >> >> I'd dearly love to see more cohousing communities structured as coops in >> large measure because then the whole group owns the community, while >> each resident household owns a membership share (which costs a lot less >> than it costs to purchase a cohousing condo or townhouse). This means >> that it's possible for people with a wider variety of incomes to afford >> to live there. And for me and some others, there are some significant >> social differences as well. Many people who currently lives in cohousing >> would not be attracted to cooperative ownership, for a myriad of >> reasons, not the least of which is that in a coop, one's membership >> share does not increase in value (no more more than a small cost of >> living increase) no matter how long one lives there. >> >> Joani Blank
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