Cohousing-L Mailing List: Re: repostto

[JoycePlath (JoycePlath]

At Marsh Commons in Arcata, Ca. we built (actually remodeled an old truck 
shop) our common house first.  Ours has a substantial amount of rented office 
and shop space as well as our shared community space.  The common house is 
owned as a separate for profit partnership.  Turns out the same folks are in 
the partnership and the homeowners association but the association rents 
space from the partnership.  We are able to take advantage of depreciation 
and other losses on our income taxes.  The main advantage is that individual 
home owners do not have to qualify for their $30,000 share of the commonhouse 
when applying for a loan to buy a home.  That purchase can happen quietly, 
after the fact.  Because we do have rented space in our common house the 
monthly cost of owning it is quite small as well.
Joyce