Re: co-op organization
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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