Cohousing-L Mailing List: Re: Cohousing-L Digest, Vol 229, Issue 3

[Elizabeth Magill (pastorlizm]

We have affordable homes. They were part of a state program and their
share of the condo costs is lower than others--the "percentage
interest" of each home is based on the original sale price when we
first moved in. So the affordable homes have a very small percentage
interest and so lower HOA dues.

HOA dues cover insurance, snow, water, wastewater and the reserves for
replacing building items, etc.

We have separate Cohousing fee for express purpose of making some
portion of the fees sliding scale. This covers all the other things
that make cohousing not a condo association, and some things that
might be condo costs, but we keep them in Coho dues so they can be
sliding scale---electricity for the CH, furniture, work out room
equipment, laundry (the homes have hook ups), garden, landscaping,
plus parties and such. The average bid is around $95 or so and the
minimum bid is 5% of the average.

We also keep meals in a third separate budget.

And we have a good neighbor fund. People can ask for  help with meals
(which some people do) and cohousing fees (which we encourage if
someone gets behind). They may help with other expenses--it's a small
team and works privately as we want people to be able to get help
without concern for others' opinions. We are encouraged to pledge $5
per month if we can afford it, and I have no idea how many people do
that.

We've never had a special assessment, but when we tried to build an
additional building we had pledges from people for what they could
afford.

-Liz
(The Rev. Dr.) Elizabeth Mae Magill
Pastor, Ashburnham Community Church
Minister to the Affiliates, Ecclesia Ministries
www.elizabethmaemagill.com
508-450-0431

On Sun, Feb 5, 2023 at 12:09 PM Janet Murphy <janetmusicrn [at] gmail.com> 
wrote:
>
> Hi Sally,
> Arboretum Cohousing opened 14 years ago with six affordable units. Because
> of the resale rules of our two Habitat units, we now have four affordable
> units which continue to be supported by a city program.
> The four affordable units have a significantly reduced purchase price, and
> we also negotiated with the city to have them taxed on that lower price
> rather than the fair market value. Because of this, the units are a
> tremendous value at purchase and over time. I believe all of our members in
> affordable units have improved their economic well being by living here.
> Our original condo fees were based on square footage, so our members in
> affordable units pay the same as everyone else. We have always fully funded
> our reserve so we don't see huge swings in fees or have special
> assessments. This predictability is a boon to all of us who don't have a
> lot of financial wiggle room.
> I think it is respectful that we don't distinguish between owners of
> affordable and market-rate units. I would guess most of our members know we
> have some affordable units, but they don't know who lives in them. Everyone
> is an equal contributor to the community.
> No one wants to be in a housing situation they can't afford over time.
> Having realistic fees at the time of purchase is important. Happily, living
> with the community and sharing benefits of cohousing is very economical too.
> Janet Murphy
> Arboretum Cohousing
> Madison WI
>
> ----------------------------------------------------------------------
> >
> > Hello all, this is my first time posting to the listserv so feel free to
> > provide guidance on how best to proceed...
> > We at Aria Cohousing in Denver are interested in hearing from other
> > communities with affordable units and what ideas/approaches have been used
> > to retain low income members,? How are communities dealing with HOA fee
> > increases and/or special assessments?? Do you have hardship funds?? A
> > sliding scale?? Are there other ways you are helping members with financial
> > limitations?? ?
> > Aria has 9 affordable units (8 standard, 1 Habitat for Humanity) of our 28
> > total.? There have been major hail storms in Colorado that have caused
> > significant increases to insurance premiums and deductibles, and we are
> > also working to increase our reserves given recommendations from a recent
> > Reserve Study .??
> > I have copied the other members of the Aria group researching options.?
> > Thanks for your input.
> > Sally Hardy
> > ------------------------------
> >
> >
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