Cohousing-L Mailing List: Re: Concessions for Affordability

[R Philip Dowds (rpdowds]

This sounds interesting, but ...  What's included in the "condo fees"?  What's 
in the "cohousing fees"?  What's the ratio of one to the other?

RPD

On Jul 15, 2012, at 9:00 PM, Elizabeth Magill wrote:

> 
> I'm not sure what you mean by assessments?
> 
> Our affordable homes (25% of the total homes) have a lower condo fees in 
> perpetuity. They are calculated at a lower percentage of the project. 
> (condo fees are proportional to the original asking prices of the homes).
> 
> For cohousing fees, we have as sliding scale: pledge what you can afford from 
> 5% of the average needed, to as high as you choose to go. (We publish the 
> average needed based on teh budget, then households pledge. So far, it always 
> brings in a bit more than the minimum proposed budget.)
> 
> So the condo fees will be lower forever. The coho fees are higher or lower 
> based on each households own perception of their ability to pay.
> 
> Our affordable homes are required by law to stay affordable when re-sold.
> 
> -Liz
> Elizabeth Magill
> www.worcesterfellowship.org
> 
> 
> 
> 
> On Jul 15, 2012, at 5:45 PM, R Philip Dowds wrote:
> 
>> 
>> Folks —
>> 
>> The City of Cambridge has something called "inclusionary zoning", which 
>> stipulates that all "large", private residential developments must include 
>> "affordable" dwelling units made available to the City for below-market 
>> housing controlled by the City.  I have no problem with this; in fact, I was 
>> one of the citizen activists promoting the idea 15 years ago.
>> 
>> Interestingly enough, Cornerstone Cohousing was the first private 
>> development to be captured by inclusionary zoning, and now has 4 affordable 
>> units as a permanent part of its 32-unit mix.  The details of how all this 
>> works are not important here.  What we're trying to figure out is, Should 
>> assessments on the affordable units be discounted, relative to the 
>> assessments on the market rate units?  So my questions are ...
>> 
>> Do you have a comparable program of subsidized units in your coho community? 
>>  And, if so ...
>> What consideration in assessments, or other requirements, do you extend to 
>> "affordable" units, such that they remain "affordable", and that your 
>> community thus supports economic diversity?
>> 
>> R Philip Dowds AIA
>> Cornerstone Cohousing
>> 175 Harvey Street, Unit 5
>> Cambridge, MA 02140
>> 617.354.6094
>> 
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> 
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