Re: The future of cohousing support.
From: Michael Barrett (mbarretttoast.net)
Date: Mon, 10 Dec 2007 09:55:12 -0800 (PST)
On Sunday, December 09, 2007 8:05 PM  "Joani Blank" said:

 . . . in many, perhaps  most, cases the banks that financed cohousing 
communities were relatively small and very local, banks with which the group or 
the developer already had or readily could  form a personal  relationship . . . 
. 

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When Liberty Village Cohousing, in Frederick County, Maryland, was going 
through the financing process in the middle '90s, we had an appropriate 
"business plan" which was presented to and then declined by several local 
banks.  Later a locally connected "financial consultant" was hired for 1% of 
the desired loan. Within a week he obtained the needed loan from a small local 
bank, and, interestingly, favorable consideration from a bank that had already 
declined it when it was sought directly by the Liberty Village group.  

Discouragingly, small local banks seem increasingly to be a thing of the past 
as they are swallowed, and reswallowed, by ever larger conglomerates.  

Michael Barrett
Shadowlake Village
Blacksburg VA

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