Re: Cohousing-L Digest, Vol 132, Issue 4
From: Melanie Mindlin (
Date: Thu, 8 Jan 2015 13:01:20 -0800 (PST)
Hi Jim,

I am not an expert in this field but I have done quite a bit of investigation 
in alternative financing.  My reading suggests that if you have less than 30 
investors, in most places this is considered a private investment group not 
subject to the kind of securities laws that apply to public offerings.  You may 
be able to get more information from BALLE, the Business Alliance for Local 
Living Economies and Michael Schuman, Local Dollars, Local Sense.

Good luck with your project,
Melanie Mindlin

On Jan 8, 2015, at 3:16 AM, cohousing-l-request [at] wrote:

> Message: 1
> Date: Tue, 6 Jan 2015 13:36:10 -0800
> From: Jim Swenson <swensonian [at]>
> To: cohousing-l [at]
> Subject: [C-L]_ Cohousing investors and securities law
> Message-ID:
>       <CAOOQA9Yy4A_s7FuqY-52DU7S=VTYNCDpYDKC9==qbAcKej6+tw [at] 
> Content-Type: text/plain; charset=UTF-8
> Can someone point me to the legal theory that allows contributions
> from initial cohousing equity members to avoid state and federal
> securities regulations?  I've done a lot of searching in the
> cohousing-L archives and found precious little talk - probably for
> good reason.  But, with the amount we are investing in our project, we
> are not quite comfortable with the "just don't say anything - fly
> under the radar" approach. I'd appreciate any thoughts either directly
> to me or to the list.
> Thanks.
> Jim Swenson
> PDX Commons Cohousing
> Now 50% subscribed
> swensonian [at]

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