|financing capital projects||<– Date –> <– Thread –>|
|From: Carol Agate (carolagateme.com)|
|Date: Sun, 20 May 2012 17:49:36 -0700 (PDT)|
How do you finance major capital improvement? Do you have affordable units and, if so, do you exempt them or are they included in the assessment? If they are included, is the assessment prorated in accordance with the ownership interest? Unlike most condos, where an assessment is voted without any concern about the financial burden on some owners, in cohousing there is concern for neighbors who are out of work or in some way financial strapped. Have you found a way to assess according to what people can afford? Has anyone tried decreased exemptions for people who say they can't afford it conditioned on their providing their tax returns? Has anyone tried voluntary payments, limiting the decision-making to those who contribute? Or do you also give up on making improvements because it's too difficult? Carol Agate Cornerstone in Cambridge, MA
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