|Re: financing capital projects||<– Date –> <– Thread –>|
|From: Mary Ann Clark (drmaryannmac.com)|
|Date: Mon, 21 May 2012 11:48:05 -0700 (PDT)|
As a completely self-developed project, we continue to do capital improvements. We have a standing Planning and Improvement committee who plans and executes these projects. New projects are generally funded out of our dues, so are shared equally among the members. We also have a healthy reserve fund account (also funded out of our dues) for doing long-term maintenance of capital items, i.e., roofing and painting of the Common House, road repairs, etc. Since we're not a condo but free-standing homes, maintenance of individual units are the responsibility of the owners. We hope that good fiscal management will keep us from having to do special assessments for these types of projects. Mary Ann Manzanita Village where we can watch planes carrying water to the Gladiator Fire near Crown King, AZ On May 20, 2012, at 5:49 PM, Carol Agate wrote: > > 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 > _________________________________________________________________ > Cohousing-L mailing list -- Unsubscribe, archives and other info at: > http://www.cohousing.org/cohousing-L/ > > -- A complex system that does not work is invariably found to have evolved from a simpler system that worked just fine. Mary Ann Clark drmaryann49 [at] mac.com Check out DrMaryAnn's Academy at http://drmaryann.wordpress.com/
financing capital projects Carol Agate, May 20 2012
- Re: financing capital projects Mary Ann Clark, May 21 2012
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