Cohousing-L Mailing List: Re: Borrowing against reserves? Was Re: [C-L]_Re: Annual Budget

[Raines Cohen (raines-coho-L]

Mabel Liang <mabel [at] twomeeps.com> wrote on 11/4/01 10:01 AM:

>Excuse me, but WHAT is required by law in California?  I can't imagine that
>anyone is forcing you to borrow money.

>At 07:07 AM 11/3/01 -0800, pattymara [at] juno.com wrote:
>>This year will be the first year that we may be borrowing against the
>>reserves (required by law in California) to fund the well digging.  

I think Patty's saying the RESERVES are required by law in CA, not 
borrowing against them (the latter is allowed, but regulated in the form 
of periodic required "reserves studies" that become public documents so 
that future homebuyers can be informed of their chances of having 
unanticipated assessments against their properties). Certainly, having 
healthy reserves contributes to the resale value of units.

Raines

Raines Cohen <coho-L [at] raines.com> <http://www.swansway.com/>
Getting ready for a trip to DC, Baltimore, and Boston

  Vice President, Swan's Market Cohousing [Old Oakland, CA]
Where yesterday we hosted FIC's Tree Bressen doing a facilitation 
training.. and got 11 members from 6 nearby communities to participate, 
in anticipation of setting up a pool of people who can help facilitate 
one anothers' meetings. 

  Member, East Bay Cohousing [no site yet] <http://www.ebcoho.org/>
Dealing with some conflicts among members of the group, preparing for a 
social.

  Boardmember, The Cohousing Network <http://www.cohousing.org/>
Enjoying the latest issue of the Cohousing Journal... have you got yours 
yet?

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