Cohousing-L Mailing List: financing capital projects

[Carol Agate (carolagate]

How do you finance major capital improvement?

Do you have affordable units and, if so, do you exempt them or are they 
included in the assessment? If they are included, is the assessment prorated in 
accordance with the ownership interest?

Unlike most condos, where an assessment is voted without any concern about the 
financial burden on some owners, in cohousing there is concern for neighbors 
who are out of work or in some way financial strapped. Have you found a way to 
assess according to what people can afford? Has anyone tried decreased 
exemptions for people who say they can't afford it conditioned on their 
providing their tax returns?

Has anyone tried voluntary payments, limiting the decision-making to those who 
contribute?

Or do you also give up on making improvements because it's too difficult?

Carol Agate
Cornerstone in Cambridge, MA