Capital Improvement Fund
From: David Entin (davidentincomcast.net)
Date: Wed, 14 Sep 2016 06:02:48 -0700 (PDT)
I offer our experience at Rocky Hill Cohousing, Northampton, MA in response
to Sharon's query re: capital improvement fund.   We have such a fund and it
has been created and replenished regularly due a decision we made before
move-in 11 years ago.   We were concerned that some households would not do
enlargements or completions (such as finishing a basement or attic or adding
a deck or porch) because the initial unit price included an approximately
40% addition for "common costs," i.e., sewer, road and path paving, common
house, utilities into the community, etc.   To discourage waiting to add on
or finish rooms until after initial construction, we reached a consensus
decision in the development phase to charge additions, room finishing, etc.
done after initial construction the common costs based on a certain scale
(such as half for finishing basement space or 10% for a deck).   Thus as
individual households have added decks or finished basements or attics or
added a room they have paid the common costs based on square footage.  These
payments have gone into our Capital Improvement Fund through the years.
Dollars are expended from the fund based on a careful process and community
consensus.   We built a fine metal large swing set, for example, as one such
capital project and added major shrubbery improvements for another.   There
is a healthy amount remaining in the fund for future needs.    Hope that is
helpful.

David Entin


  • (no other messages in thread)

Results generated by Tiger Technologies Web hosting using MHonArc.