Re: Facilities Management
From: Sarah M. Corden (cordenqwest.net)
Date: Wed, 1 Aug 2001 08:41:01 -0600 (MDT)
About software for a reserve study:

In answer to Ken's question:  An HOA is a Homeowners' Association, the (in
our state) corporation to which all who own units in our Village belong by
virtue of being owners.  Our HOA was formed shortly before property was
purchased, and as each new owner comes into ownership  that owner (one vote
per household) becomes a member.  This entity is distinguished from the LLC
which is our development company.  The HOA will endure as a legal entity,
while the LLC will evaporate when the Village is complete.  The HOA is
responsible for upkeep, insurance, and a bunch of other things that will
vary among cohousing groups.

We have just received the Reserve Study software from NICM and although
we've reviewed its initial instructions we haven't uploaded it yet (this'll
be done in the coming week or two) to begin to work with it.  What seems
promising is that it has a lengthy list of items that the group might own,
like clubhouse (their language), pool, wharfs (heh, heh), parking lots,
carports, and the like.  You can strike out those that are irrelevant.
Then, there are ways to enter current replacement costs, expected life of
the item, and so on, until a projection of future replacement costs is
achieved.  Last, the needs for funding these is computed, so you can then
figure out what amount of money the Association needs to put away each year
to meet these projected costs -- with consequences for the Homeowners'
Association dues.

Reserve studies are mentioned in the NICM booklet "The Role of the
Association Treasurer."

Sarah

----- Original Message -----
From: "Ken Collerman" <kcollerm [at] windsong.bc.ca>
To: <cohousing-l [at] cohousing.org>
Sent: Tuesday, July 31, 2001 5:19 PM
Subject: Re: [C-L]_Facilities Management


> What is an HOA?  Also is Manzanita Village currently using the Reserve
> Analysis Program?  What are its weaknesses and strengths? We'd prefer to
use
> an existing software package rather than write one ourselves or use
> Excel/StarCalc etc.
>
> Ken Collerman
> Windsong Cohousing
> Langley, BC
>
.

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