Re: to borrow or not to borrow?
From: Diana Carroll (
Date: Wed, 25 Mar 2015 04:52:26 -0700 (PDT)
I don't really understand the question. Are you asking whether you should
borrow now vs after ground breaking?  Or whether you should borrow AT ALL?
Because by definition the latter means your members would have to come up
with an average of 100% of the cost. (Actually make that 110-150% because
the project WILL go over budget.)

I don't know many ordinary folks who can buy a whole house with cold cash.

Diana at Mosaic Commons
Where 34 units cost $11m

On Monday, March 23, 2015, Seasons of Food <seasonsoffoodhcc [at]>

> We’re a new yet-to-be built co-housing community. Equity members have
> invested $20,000 to our collective pot. We hope to break ground in July
> 2015 and will be borrowing at 5.5% interest. There are mixed feelings about
> borrowing, some support borrowing from the bank, others think we should ask
> for voluntary contributions from EMs that can “afford” it  (so far 4 of 13
> EMs have pledged $100K for a lower interest return than 5.5%), and yet
> others feel we should ask for a next instalment of funds from everyone,
> like 10-20% of unit cost. Some are afraid that we will lose EM’s as perhaps
> not everyone can access the funds currently. What have others’ experience
> with this sensitive item been and what is most successful?
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