Cohousing-L Mailing List: Re: LLC Formation/Use

[Alice Alexander (alicecohous]

Barb, good for you for not wanting to reinvent the wheel! and thanks for
joining us in Nashville!

I'll forward to you the Articles of Incorporation for Durham Central Park
Cohousing.

Regarding our LLC for Durham Central Park Cohousing:

LLC - we still have our LLC.  We do because the LLC built the building and
has a 10 year contractual relationship with our architects.  It currently
does only two things: reports yearly our brownfield status to the NCDNER
and files the yearly "we still exist" form and pays the bill for filing
that form.

The LLC consists of all who are members Durham Coho.  As each person joined
Durham Coho they became a member of the LLC.  By the time of groundbreaking
(November 2012) all the owners of the 24 units were members of the LLC.
Since then we have had 38 members.

We created the COA (we are a condominium owners association) two months
before we moved in (May 2014), during which we made the official transfer
of units from the LLC to the owners.

We are all members of the board of the COA.

We have no other legal entities.

Alice Alexander, Coho/US Executive Director (through 6/30/17)

On Wed, May 24, 2017 at 11:02 AM, Barbara Machina <info [at] waxhawcoho.com>
wrote:

>
> Hey everyone,
>
> It was nice meeting so many of you at the conference last weekend! As our
> little project powers forward, we're making sure we aren't reinventing the
> wheel. So, I have 2 questions:
>
> 1) We heard that a lot of communities dissolved their LLCs after
> development, while others kept theirs as an HOA structure. What did your
> community do? Why? Would you recommend it?
>
> 2) Would anyone from North Carolina be willing/able to send over a copy of
> your Articles of Organization so that we can model it? We're currently
> using a standard contract written up for our state by LegalZoom, and the
> plan is to use it for construction.
>
> Thanks everyone!
> Barb Machina
> --
> Thanks,
>
> Barb Machina
> TribeMind, LLC
> (980) 201-1351
> Visit our website <http://waxhawcoho.com/>
> Follow us on Facebook <https://www.facebook.com/waxhawcoho/>
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-- 
Alice Alexander
Executive Director
http://www.cohousing.org
[image: The Cohousing Association]