Cohousing-L Mailing List: Re: mortgages, investment etc.

[Alice Alexander (alicecohous]

Thank you Liz! Per my earlier post under the earlier subject line I outline
that Coho/US is indeed pursuing a loan fund, in partnership with PFAC
(Partnerships for Affordable Cohousing). Regarding creating a group to
discuss:

There is a gathering scheduled at the cohousing conference that might be an
appropriate meeting place for these good related topics: 4:00 on Friday,
May 28th, "making cohousing affordable" hosted by Barb Bailey, PFAC board
member (and with Iowa City Cohousing).

Another opportunity is Wendy Wiesner's session Financing Your Community:
Employing Affordability
<https://docs.google.com/document/d/1ivEe9OUByvJd92Qpul2SfKjSOdrz1rKnONZMONSAl6U/edit?pli=1>
.

Alice Alexander, Coho/US Executive Director


On Sun, Apr 26, 2015 at 8:14 AM, Liz Ryan Cole <lizryancole [at] me.com> wrote:

>
> I would like to create a group to discuss this further.  I would not be
> surprised to learn that the coho board had experience/thoughts suggestions
> on this topic.  Other related topics are how to create tax credits (so that
> when we self-fund affordable or workforce housing there are tax benefits)
> and creating an LLC to oversee the workforce/affordable housing created
> within cohousing, allowing us to keep the culture of cohousing front and
> center for all income groups.
>
> If there is already a working group I'd like to join - if there is not I
> volunteer to gather names and organize an formation meeting (and I will be
> in Durham in May).
>
> liz
>
> Liz Ryan Cole
> Vermont Law School (day job) 802.831.1240
> Pinnacle Cohousing (Lyme, NH)  (802.274-1511 mobile)
>
>
>
> On Apr 25, 2015, at 5:49 PM, Jerry McIntire wrote:
>
>
> I like John's idea. Create an investment vehicle, a cohousing loan fund.
>
> Jerry
> On Apr 25, 2015 3:08 PM, "John Sechrest" <sechrest [at] gmail.com> wrote:
>
> >
> > If there is a way to find the data on mortgages, there is likely a way to
> > build an investment tool that would allow gathering people to invest
> > directly in cohousing.
> > On Apr 25, 2015 1:03 PM, "Ann Zabaldo" <zabaldo [at] earthlink.net> wrote:
> >
> >>
> >> Hi John and all – – this is where we need some seed money to do some
> >> research in Cohousing. This is the kind of data that we know are out
> > there
> >> anecdotally but we need some actual facts and figures to back up our
> > belief
> >> that Cohousing mortgages are strong mortgages and are worth investing
> in.
> >> There are number of new cohousing communities coming online in the next
> > few
> >> years and we sure need a financial structure to make these mortgages
> > secure
> >> for the future homeowners. It's really distressing to get right down to
> > the
> >> takeout mortgages and then find out your shut out. The amount of
> > financial
> >> grief that community members who had to take because of the lack of
> >> mortgage money is as I said in a former email painful and bloody.
> >>
> >> Ann Zabaldo
> >> Takoma village cohousing
> >> Washington DC
> >>
> >> Sent from my iPhone
> >>
> >>> On Apr 25, 2015, at 3:29 PM, John Sechrest <sechrest [at] gmail.com> 
> >>> wrote:
> >>>
> >>>
> >>> what do you think is the total value of all cohousing mortgages that
> > are
> >>> currently in existence?
> >>>
> >>> is there a national opportunity for an investment in cohousing
> > mortgages?
> >>> On Apr 25, 2015 12:24 PM, "Sharon Villines" <sharon [at] 
> >>> sharonvillines.com
> >>
> >>> wrote:
> >>>
> >>>>
> >>>>
> >>>>> On Apr 25, 2015, at 3:04 PM, R Philip Dowds <rpdowds [at] comcast.net>
> >> wrote:
> >>>>>
> >>>>> So I remain totally opposed to skulking around, hoping that the
> >>>> capitalist interests of money and property fail to notice that I live
> > in
> >>>> cohousing.  I think we need to keep on doing what we’re doing:
> >> Educating,
> >>>> and leading the way.
> >>>>
> >>>> I think this is a good attitude to take collectively--for the
> >> Association
> >>>> or volunteers on behalf of the Association to collect data and provide
> >> it
> >>>> to banks.
> >>>>
> >>>> But for each individual in a huge country to take this on has proven
> >>>> self-defeating time and time again. There just aren't enough cohousing
> >>>> communities or buyers applying to the same bank to make an impact as
> >>>> individuals.
> >>>>
> >>>> Banks don't invest money in shared meals, errand running,
> > celebrations,
> >>>> diversity, etc. They invest in real estate developments.
> >>>>
> >>>> Cohousers invest in shared meals, errand running, celebrations,
> >> diversity,
> >>>> etc., not real estate development. (Although in the end they are, they
> >>>> aren't attracted by that.)
> >>>>
> >>>> These are different aims.
> >>>>
> >>>> Sharon
> >>>> ----
> >>>> Sharon Villines
> >>>> Takoma Village Cohousing, Washington DC
> >>>> http://www.takomavillage.org
> >>>>
> >>>>
> >>>>
> >>>>
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> >>>
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> >>
> >>
> >>
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> >
> >
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-- 
Alice Alexander
Executive Director
www.cohousing.org <http://www.cohous.org>
[image: The Cohousing Association]