Re: What SHOULD I be worried about?
From: Sharon Villines (sharonsharonvillines.com)
Date: Tue, 24 Jun 2014 11:19:56 -0700 (PDT)
On Jun 20, 2014, at 5:12 PM, Kathryn McCamant <kmccamant [at] 
cohousingpartners.com> wrote:

> Development budgets are so tight these days, I would hesitate
> to add reserve funding out of the development budget. 

We did have a reserve fund starter and tables, chairs, and dishes and for the 
kitchen, as part of the budget. The reserve fund wasn't huge but $20,000 I 
think. 

The advantage of putting them in the development budget was that they were then 
part of our mortgages.

Another question -- how do you determine the amount of the condo fee? After we 
moved in our management company told us we would have to raise our fees 65-70%. 
We found we did have to but it took 3-4 years to get there.

Sharon
----
Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org





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