Re: condo fees
From: S Fassnacht (fassnachssc.wisc.edu)
Date: Fri, 21 Feb 2014 08:18:02 -0800 (PST)
Hi Jude.   Can you say more about the Budget Faire at Trillium Hollow?  We at 
Village Cohousing submit and review committee budgets over a 3 month period, 
which makes it hard to see how everything fits together until the very end.  At 
that point it's hard to remember details of the earlier presentations.

Stephanie
Village Cohousing
Madison WI

On Feb 21, 2014, at 8:45 AM, Jude Foster wrote:

> 
> At Trillium Hollow (in Portland Oregon) our HOA dues process has been 
> clarified and refined in the last few years into this system, which is 
> working really well for us:
> 
> The annual budget includes three levels:  
> Level 1 includes the legally required costs managed by the Legal/Financial 
> team (all utilities, insurance, legal fees, etc.)
> Level 2 includes all the teams' budgets (approval of these involves full 
> consensus at the Budget Faire).
> Level 3 are special projects which teams or members can bring forward, by 
> individuals, with their share of the $ left after Levels 1 and 2 are funded.  
> This “funny money” is divided up by adult.  This year we each got $141.  We 
> have funded everything from a play structure to a sauna to a garden shed to a 
> workshop with Level 3 in the last few years.  Not every Level 3 project or 
> proposal is funded.
> 
> Dues increases each year are now set to COLA, the cost-of-living increase 
> (unless some circumstance in the future forces us to raise dues more.)
> Any Roll-over ($ left at end of year from Level 1 or Level 2)  goes toward 
> the following year’s Level 1, and the balance to the Community Contingency 
> fund.  Handling Roll-over openly, approved by the HOA, is a legally-required 
> process.
> 
> Dues are based on the square footage of the unit, an approach that was 
> decided in the community’s early years (before my time). 
> We have studios, one-bedrooms, various layouts for 2 bedrooms, 3 bedrooms, 
> and 4 bedroom units.
> Monthly dues for 2014 range from $181 for a studio to $559 for a 4-bedroom.
> 
> I hope this is helpful!
> Jude
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