Cohousing-L Mailing List: Re: financing capital projects

[Mary Ann Clark (drmaryann]

As a completely self-developed project, we continue to do capital improvements. 
We have a standing Planning and Improvement committee who plans and executes 
these projects. New projects are generally funded out of our dues, so are 
shared equally among the members. We also have a healthy reserve fund account 
(also funded out of our dues) for doing long-term maintenance of capital items, 
i.e., roofing and painting of the Common House, road repairs, etc. Since we're 
not a condo but free-standing homes, maintenance of individual units are the 
responsibility of the owners. We hope that good fiscal management will keep us 
from having to do special assessments for these types of projects.

Mary Ann
Manzanita Village where we can watch planes carrying water to the Gladiator 
Fire near Crown King, AZ 

On May 20, 2012, at 5:49 PM, Carol Agate wrote:

> 
> 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
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--
A complex system that does not work is invariably found to have evolved from a 
simpler system that worked just fine.

Mary Ann Clark                                                  drmaryann49 
[at] mac.com
Check out DrMaryAnn's Academy at http://drmaryann.wordpress.com/