|Re: a question about funding capital projects||<– Date –> <– Thread –>|
|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
- a question about funding capital projects S. Kashdan, May 18 2010
- Re: a question about funding capital projects evdavwes, May 23 2010
- Re: a question about funding capital projects Fred H Olson, May 23 2010
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