Cohousing-L Mailing List: Re: Right of First Refusal

[Neil Planchon (neil]

<Del Holland - delholland [at] aol.com> is the author of the message below. It 
was posted by Neil from the cohousing-l management team at cohousing-l-owner 
[at] cohousing.org.

Greetings Del! Thank you for your post. In the future, when replying, please 
delete the quoted digest and restore the subject line. Following those steps 
will ensure your message is automatically posted rather than held in moderation 
where one of the list manager has to do that. 

Thank you and Happy December to you and yours!
☮️ Neil - with Fred a coho-l admin person
Swan's Market Cohousing, Oakland CA :: https://www.swansway.com

-=-=-=-

Peter and Ann Z,

So, what we basically did was amend our bylaws to include an exception for 
homes purchased with a VA mortgage.  We still wanted to keep our maximum of 10% 
rental in the community to encourage invested, active Members, so this was only 
for homes with VA mortgages.  We figured that there never would be so many 
homes with VA mortgages, at one time, to totally distort the intent of or 
maximum of 10% rentals.

Here's the specific language;

1. Section 8 OCCUPATION AND USE is amended by adding the following Paragraph 
8.1.9

8.1.9 Department of Veterans Affairs Financing. To the extent that any 
provision set forth in this declaration and bylaws regarding leasing and a 
right of first refusal is inconsistent with the requirement(s) of guaranteed or 
direct loan programs of the United States Department of Veterans Affairs, as 
set forth in chapter 37 of title 38, United States Code, or part 36 of title 
38, Code of Federal Regulations (?DVA Financing?), such provision shall not 
apply to any Unit that is: 
(i) encumbered by DVA Financing or;
(ii) owned by the Department of Veterans Affairs. 

2. Except as amended and revised herein, all other terms, provisions and 
exhibits of the Condominium Declaration for Prairie Hill Condominiums remain 
unchanged.

Del Holland
Prairie Hill Cohousing, EcoVillage
Iowa City, IA