Cohousing-L Mailing List: Re: Any experience where an HOA co-owns a unit

[Raines Cohen (rc3-coho-L]

Jim -

You can find an example and a model just up road from you, at your closest
neighboring community, Coho EcoVillage in Corvallis.

https://www.ahomeincommunity.org/

Note that rather than the HOA owning it, an independent nonprofit was
created… which could perhaps serve your community and others as well.

We are pursuing a different model here at my home community, crowdfunding a
reverse mortgage to help keep a home affordable for an older neighbor on a
fixed income, partnering with a Community Land Trust so it remains
affordable for future residents. It helps that we started out with the city
serving in the traditional role of a CLT, with all units having
deed-restricted prices in lieu of us just-barely-able-to-afford-our-homes
moderate-income founders having to pay extra into a city affordable housing
fund or make just one home hyper affordable.

Raines
At Berkeley (CA) Cohousing, celebrating three decades of community living

On Tue, Jan 23, 2024 at 6:51 PM Jim Bronson <jimbronsonashland [at] gmail.com>
wrote:

> Dear Coho Folks,
>
> At River Song in Eugene, Or we are wanting to increase our diversity and
> support family ownership.  I have heard of cohos where the membership as a
> group buys a unit or two and then either rents or sells the unit to a new
> member who otherwise might not afford it.  If you have experience with such
> an arrangement, please give me a short description of it and/or a contact
> for you so I can set up a call or a zoom to talk about it a bit more.