Re: financing capital projects
From: R.N. Johnson (cohorandayahoo.com)
Date: Mon, 4 Jun 2012 12:06:20 -0700 (PDT)
I got some follow-up question off line about whether people who contributed 
extra had any extra say in the use of the money.  


        Hi R.N.
        I saw your recent message on coho-l and want to ask a 
follow-up question.  When people contributed additional         money to your 
cash call, was this a "donation" or was there a way to pay them back?  
If it was a donation, did it         give them any additional rights, say on 
how it was used or other benefit?
        Feel free to answer on coho-l or direct.
        Melanie Mindlin

To answer your questions- those who contributed did not get any extra say in 
how it was used.  For this cash call, the extra money was a donation.  We all 
put our "bids" on what we were willing to contribute anonymously On a couple of 
other occasions some members have loaned money to the group interest free so 
that we could complete a major project before we had accumulated the cash in 
our maintenance fund. Since we bought a 27 year old complex, we have hit some 
big repairs in our first few years as a community.

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