Cohousing-L Mailing List: Re: replacement reserves

[Doug Gilbert (cologilbert]

My recommendation is to use a professional service to do a complete reserve
study on a periodic basis. Generally that is every two to three years.

*~*~*
Doug Gilbert
cologilbert [at] msn.com
 *~*~*
----- Original Message ----- 
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To: cohousing-l [at] cohousing.org
Sent: Thursday, April 08, 2004 04:16
Subject: Cohousing-L Digest, Vol 3, Issue 6


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Today's Topics:

   1. Re: replacement reserves (Sharon Villines)
   2. Re: replacement reserves (Elizabeth Stevenson)
   3. Re: replacement reserves (Howard Landman)


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Message: 1
Date: Wed, 07 Apr 2004 09:29:26 -0500
From: Sharon Villines <sharon [at] sharonvillines.com>
Subject: Re: [C-L]_ replacement reserves
To: "cohousing-l [at] cohousing.org" <cohousing-l [at] cohousing.org>
Message-ID: <BC997A76.B519%sharon [at] sharonvillines.com>
Content-Type: text/plain; charset="US-ASCII"

On 4/6/04 7:25 PM, "don i arkin" <shardon5 [at] juno.com> wrote:

> We did not
> budget for items that would last at least 30 years from the date of the
> study.  One assumption made by the professionals was that replacement of
> buildings, typically more than 50 years away, were beyond the "useful
> life of the project" and could thus be ignored entirely.

What???? Meaning the place will fall down by then? Is this short term
thinking or what? Surely this is a mistake?

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



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Message: 2
Date: Wed, 07 Apr 2004 07:20:40 -0700
From: Elizabeth Stevenson <tamgoddess [at] comcast.net>
Subject: Re: [C-L]_ replacement reserves
To: Developing cohousing - collaborative housing communities
<cohousing-l [at] cohousing.org>
Message-ID: <BC995C48.158E8%tamgoddess [at] comcast.net>
Content-Type: text/plain; charset="US-ASCII"

Indeed, replacing the roofs is one thing we have budgeted for, and that is
supposedly 30 years away from when we were built. I think there is something
very fishy about this.


-- 
Liz Stevenson
Southside Park Cohousing
Sacramento, California
lilbert [at] comcast.net

Sponsor me shaving my head for childhood cancer: http://www.stbaldricks.org
Click on "Sponsor a Shavee" and enter my name as written above.
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> From: Sharon Villines <sharon [at] sharonvillines.com>
> Reply-To: Developing cohousing - collaborative housing communities
> <cohousing-l [at] cohousing.org>
> Date: Wed, 07 Apr 2004 09:29:26 -0500
> To: "cohousing-l [at] cohousing.org" <cohousing-l [at] cohousing.org>
> Subject: Re: [C-L]_ replacement reserves
>
> On 4/6/04 7:25 PM, "don i arkin" <shardon5 [at] juno.com> wrote:
>
>> We did not
>> budget for items that would last at least 30 years from the date of the
>> study.  One assumption made by the professionals was that replacement of
>> buildings, typically more than 50 years away, were beyond the "useful
>> life of the project" and could thus be ignored entirely.
>
> What???? Meaning the place will fall down by then? Is this short term
> thinking or what? Surely this is a mistake?
>
> Sharon
> -- 
> Sharon Villines
> Takoma Village Cohousing, Washington DC
> http://www.takomavillage.org
>
> _________________________________________________________________
> Cohousing-L mailing list -- Unsubscribe, archives and other info at:
> http://www.cohousing.org/cohousing-L
>
>



------------------------------

Message: 3
Date: Wed, 7 Apr 2004 11:41:54 -0700 (PDT)
From: Howard Landman <howard [at] polyamory.org>
Subject: Re: [C-L]_ replacement reserves
To: cohousing-l [at] cohousing.org
Message-ID: <200404071841.i37IfsS21888 [at] poly.polyamory.org>
Content-Type: text/plain; charset=us-ascii

> On 4/6/04 7:25 PM, "don i arkin" <shardon5 [at] juno.com> wrote:
>> We did not budget for items that would last at least 30 years
>> from the date of the study.

and Sharon replied:
> What???? Meaning the place will fall down by then? Is this short term
> thinking or what? Surely this is a mistake?

River Rock did the same.  Forcing people to pay reserves for replacing
their unit completely is equivalent to making them pay for their unit
twice over.  Not many people can afford to buy two equal-price houses
and only live in one of them.

Besides, we estimate that our units will last around 100 years.  That's
beyond our planning horizon of 30 years.  70 years from now, some other
finance committee will meet to debate this issue.  They'll have better,
more accurate, more up-to-date information than we do now.

The most complicated thing in our reserve accounts is the parking lot
maintenance.  There are several different levels of treatment, from
"crack seal" to "rip up and repave", with different periods like "once
every 3 years" or "once every 20 years".  But clearly, you don't need
to do a little one in the same year as you do a bigger one.  Getting
the schedule right took us 3 years.  :-)  Fortunately we had been
over-reserving up till then - especially as we still don't see a need
to do the first crack seal yet.

Biggest issue this year is "How do we actually spend money out of the
reserves?".  We have a few things that need fixing, but realized that
there we had no agency lower than the HOA board that was authorized to
spend reserve funds.  Probably we'll authorize the maintenance committee
and the common house committee, but it's still somewhat in a state of
confusion.

Howard A. Landman
River Rock Commons
Fort Collins, Colorado


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