|Re: Cohousing Helping Funds?||<– Date –> <– Thread –>|
|From: R Philip Dowds (rpdowdscomcast.net)|
|Date: Wed, 18 Dec 2013 06:46:29 -0800 (PST)|
A few things to think about ... General property maintenance, repair and replacement are legitimate costs of living anywhere. You can rely on surprise emergency assessments if you prefer, but most condos and HOAs save in advance for the inevitable costs coming in five, ten or twenty years. No matter how you collect the money, it is reasonable for each dwelling unit to pay a proportional share of the maintenance costs. If you have below-market units, you may agree to work out a discount to help keep them affordable -- but they should probably pay something, if not a full fair share. But ... what happens with households (below market, or not) who are having serious problems making ends meet, and real trouble keeping up with the costs of their housing? Well, a community might conclude that said households have "over-bought" housing they can not really afford, and now must make a correction. Or, a community might decide to re-allocate cost burdens (i.e., the assessments) to help protect specific households for a finite period of time, or indefinitely. Cornerstone Cohousing has done little or nothing in the latter mode; between-household cost transfers has not been made part of the community business. However, at a number of points, specific individuals and households have acted unilaterally and privately to help support other coho residents experiencing financial shortfalls. Optional capital improvements, like major renovations of an under-utilized space, are another matter. At Cornerstone, we recently consensed a five-figure renovation and project fund for capital improvements. The amount consensed was divided into a 25% mandatory assessment, and a 75% voluntary contribution. We were gratified to discover that full participation in the voluntary contribution program was extremely high, almost 100%. So our anxieties about our neighbors being broke or alienated were found to be misplaced. Philip Dowds Cornerstone Cohousing Cambridge, MA > On Dec 18, 2013, at 12:29 AM, Barbara Moulton <bcmhorse [at] sonic.net> wrote: > > > Hi, Cohousers, > > In my community we’re facing a substantial per unit assessment to cover major > repairs to our buildings. We’re interested in setting up a “Helping Fund” > whereby those who are able to donate or lend could help those who would have > serious difficulty covering their assessment. > > We would like to know if any of you have ever set up a “Helping Fund,” what > were the mechanics of it, did it work out well? Problems? We’d like to > learn from your experience. > > Thanks, > > Barbara Moulton > Santa Rosa CA 95405 > bcmhorse [at] sonic.net > > > > > _________________________________________________________________ > Cohousing-L mailing list -- Unsubscribe, archives and other info at: > http://www.cohousing.org/cohousing-L/ > >
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