Cohousing-L Mailing List: Re: Reserve Studies

[Robert Heinich (robert]

Laura is my neighbor at Eno Commons.

Of the $100 monthly HOA dues each household pays at Eno Commons, $15 is 
towards capital projects,  This $15 is what we used to pay back what we have 
borrowed from the reserves.  With 22 households, this generates about 
$4K/year.  However, we have limited ourselves to borrowing a max of $25K 
from the reserves.

This prudent borrowing and fundraising allowed us this year to build the 
play structure, build The Barn (workshop) and to start construction on the 
Common House upstairs (guest rooms!).

So by being creative, we have been able to keep our dues constant and avoid 
assessments to fund capital projects which we enjoy today.

-Robert Heinich
Eno Commons Cohousing Neighborhood
Durham, NC
www.enocommons.org
where I hope to have a picture of The Barn on our community postcard 
section of our website
as soon as I can gather the principles together for a photo


----- Original Message ----- >
Jessie Handforth Kome of Eastern Village Cohousing said
> Where state law allows, groups can do what Laura Benedict of Self-Help
> Credit Union taught about at the national conference and borrow from the 
> reserve
> (and repay with good interest) to do additional capital projects.  This
> practice actually leverages the reserve to increase total community 
> physical and
> financial value.