Cohousing-L Mailing List: Fwd: alternatives to huge assessment ? construction loan?

[lienjud (lienjud]

Dear Cohousing list serve:


have done a bit of digging in the archives and not finding much so am putting 
the question out to the universe. 
our community, Cascadia Commons in Portland, had an envelope inspection of our 
buildings done as recommended by the reserve study people. 
the inspection has found significant issues with siding, flashing etc and we 
will be meeting for the next several weeks to educate ourselves about the 
issues uncovered and how to go forward. We have money in our capital reserves 
but also found out that the formula used by the professionals for how much $ to 
put away for siding is faulty and so, we are needing to come up with much more 
than is in our capital reserve. 
People are being creative, trying to problem solve the financing part of the 
equation. So, we are wondering if any community instead of a huge assessment, 
has done something like going back to being an LLC, taking out a construction 
type loan for big repairs? thanks for any input. 


Judith Lienhard, Portland Oregon, Cascadia Commons