Re: Exploratory Membership Cohousing-L Digest, Vol 211, | <– Date –> <– Thread –> |
From: Fred-List manager (fholsoncohousing.org) | |
Date: Thu, 26 Aug 2021 06:48:51 -0700 (PDT) |
Mac Thomson <macthomson [at] me.com> is the author of the message below. It was posted by Fred, the Cohousing-L list manager <fholson [at] cohousing.org> after deleting quoted digest. -------------------- FORWARDED MESSAGE FOLLOWS -------------------- One of our important membership strategies has been to create membership threshold goals tied to early bird credits. In looking at the development process, there are certain key phases during which big money is spent. Before spending that money, it’s important to have enough committed members. However the earlier someone commits, the more risk they face. As the development moves along, there’s more certainty about the details of the development and less risk that it will fail. Therefore it’s important to both incentivize early committers and reward them for their increased risk. For example for our 14 home Phase 2 addition, we’ve identified the following key development phases (when big money gets spent), our membership goal for that phase, and the early bird credit someone earns by committing. Phase: Preliminary Plat Application Work Begins Membership Goal: 8 households Early Bird Credit: $7000 Phase: Home Design Work Begins Membership Goal: 10 households Early Bird Credit: $5000 Phase: Break Ground Membership Goal: 12 households Early Bird Credit: $3000 Anyone who commits after we break ground wouldn’t receive any early bird credit. Note that the early bird credits decrease as the project progresses and risk decreases. The credits are awarded at the time the home is purchased as a discount on the home price. And also note that another key incentive is that the order that members commit (pay their non-refundable deposit) is the order they get to choose their lot. Lots are variably priced based on size of lot, aesthetics, etc. It’s all a bit complicated, but seems to create the appropriate incentives and rewards. We used this same basic method 20+ years for Phase 1 very successfully and are repeating it for Phase 2, which is currently being developed. -- Mac Thomson Heartwood Cohousing Phase 2 Project Manager http://www.heartwoodcohousing.com
- (no other messages in thread)
Results generated by Tiger Technologies Web hosting using MHonArc.