|Request for Guidance re Equity and other Finance Issues||<– Date –> <– Thread –>|
|From: vaness32 (vaness32earthlink.net)|
|Date: Thu, 23 Aug 2012 07:45:24 -0700 (PDT)|
Hey there Cohousing Enthusiasts, I'm a member of the finance committee for a forming group in Philadelphia. We're trying to update and fill in the missing holes on the policies related to member payments. We're exploring a relationship with a developer who already owns the property. Has anyone else gone this route? Questions we need to address include but are not limited to the following: 1. What types of payments should be considered equity and therefore creditable to the ultimate home purchase? So far we've collected full and associate member fees, membership dues, and workshop fees. We're preparing to make a request for a significant investment for due diligence. Should member dues be considered equity? 2. Should associate member dues be required or optional? 3. What defines a dormant member and should they continue to pay a membership fee? 4. What defines a defunct or former member and what should happen to any funds they've paid in? 5. What incentive models have been used to encourage first movers -- i.e., credit multiple at closing (e.g., $2,000 purchase credit for the first 20 members who give $1,000). Any sample guidance or policies you have to share would be most appreciated. Also, anyone willing to be on a conference call to share your experience would be great. Our committee is meeting tomorrow, Friday, at 1:00pm EST. We'd love to get more guidance from other folks who've dealt with the financing of a cohousing development. Vanessa Vanessa L. Lowe Home: (267) 323-2787
Request for Guidance re Equity and other Finance Issues vaness32, August 23 2012
- Re: Request for Guidance re Equity and other Finance Issues Sharon Villines, August 24 2012
- Re: Request for Guidance re Equity and other Finance Issues R.N. Johnson, August 27 2012
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