Re: a question about funding capital projects
From: S. Kashdan (skashdancablespeed.com)
Date: Fri, 21 May 2010 18:57:26 -0700 (PDT)
Greetings all,

I am posting this request again because I didn't receive much of a response
the first time. I will give a little more information, and hope that more of
you can respond.

Here at Jackson Place Cohousing, we are trying to figure out a less
cumbersome way of deciding on how to fund capital projects than the one we
have used for the last eight and a half years.

Currently, we consider funding capital projects on an annual basis.

In a series of meetings, projects are presented by interested members, and
we discuss and either come to consensus on having a project done or are
unable to come to consensus on it.

Once we have come to consensus on the projects we think worthy of being done
during the coming year, we then begin a process of deciding on how they will
be funded:

1.  First we ask whether each project can be funded with our regular formula
for deciding on association assessments:  a 65/35 formula assessment.  This
involves deciding on whether we agree to pay a special assessment beyond the
regular budget assessment requirements.  Households may choose to pay their
assessment in a lump sum, in monthly installments with their condo dues, or
in another arrangement.

2.  If we do not select to pay by special assessment for every project, we
move to the next step for those projects still needing funding:  We ask for
consensus for paying for those projects with a special assessment, with
owners having the option of not paying in full or at all, and others having
the option of contributing more than their share to a pool to bring the
amount up to the necessary sum.

3.  If we do not accept all of the remaining projects for funding in the
second way, we move to the next step, which is asking for voluntary
contributions for the projects that were not approved for funding in either
of the other ways.


This is the background to the questions my neighbor asked me to post. I
would greatly appreciate any responses you can give:

How do different cohousing communities fund capitol projects?

Do you have a separate fund?

Is it in the budget?

I have searched the archives a little, and I am finding it very confusing to
figure out the answers.

I must admit that this kind of technical financial information is not my
specialty.

So, if some of you could venture some direct and brief responses, it would
be greatly appreciated.

In community,

Sylvie Kashdan

Jackson Place Cohousing
800 Hiawatha Place South
Seattle, WA 98144
www.seattlecohousing.org


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