Post by Rebecca Rollins on Mar 5, 2012 18:39:08 GMT -6
Handout for 3-3-12 General Meeting
Workshops:
Site Design Workshop $25,000 plus travel expenses
Commons House 20,000 flights, food,
Home Design 25,000 we provide housing
Design Closure 25,000 $700-$1,000
Total: $95,000
20 households X $1,250 = $25,000
Possible workshop dates.
April 7 Sat
8 Sun
9 6-9 pm
10 6-9 pm
April 22 Sun
23 6-9 pm
24 6-9 pm
25 6-9 pm
26 6-9 pm
May 5 Sat
6 Sun
7 6-9 pm
8 6-9 pm
Preliminary budget for first 60 days
LLC $ 600
Earnest Money 5,000
Workshop Retainer 2,500
Off Site Requirements 2,500
Soil tests 5,000
Engineering Preliminary 2,500
Environmental Phase I 2,000
Workshop Marketing
Administrative
-----------
$19,560
CREDITS to Homeowners Equity in home Discount on home Total
Pay Workshop Fee $1,250 $1,250 $1,250 $2,500
Unsecured Loans to
Development Budget $2,500 $2,500 $5,000
Referral Fee for new members 2,000 $2,000
The first phase homeowners can earn 100% on the money toward their home. Not sure when the first phase ends. But afterwards they earn 25%
All workshop money and unsecured loans are refundable if homeowner decides not to complete the purchase. However, the money will not be returned until the project is 100% completed and all homes are sold. Then the person will receive a small amount of interest on their money for that period of time. *
* This excludes the first workshop as this one is worthwhile in itself to give everyone the ability to make a fair decision about their participation.
Legal Structure
Community LLC Member managed
2nd LLC includes group and Developer and it is Manager managed
Comittees;
Development
Marketing
Membership
Process & facilitation
Finance & Legal
Membership:
Define what it means to be a member. People make loans in various amounts. Write one page of goals and responsibilities of members. Don’t take more money then needed for the first phase for a 100% credit.
DISCLAIMER: These are notes taken by a busy person, please verify all information yourself before proceeding.
3-1-12
Workshops:
Site Design Workshop $25,000 plus travel expenses
Commons House 20,000 flights, food,
Home Design 25,000 we provide housing
Design Closure 25,000 $700-$1,000
Total: $95,000
20 households X $1,250 = $25,000
Possible workshop dates.
April 7 Sat
8 Sun
9 6-9 pm
10 6-9 pm
April 22 Sun
23 6-9 pm
24 6-9 pm
25 6-9 pm
26 6-9 pm
May 5 Sat
6 Sun
7 6-9 pm
8 6-9 pm
Preliminary budget for first 60 days
LLC $ 600
Earnest Money 5,000
Workshop Retainer 2,500
Off Site Requirements 2,500
Soil tests 5,000
Engineering Preliminary 2,500
Environmental Phase I 2,000
Workshop Marketing
Administrative
-----------
$19,560
CREDITS to Homeowners Equity in home Discount on home Total
Pay Workshop Fee $1,250 $1,250 $1,250 $2,500
Unsecured Loans to
Development Budget $2,500 $2,500 $5,000
Referral Fee for new members 2,000 $2,000
The first phase homeowners can earn 100% on the money toward their home. Not sure when the first phase ends. But afterwards they earn 25%
All workshop money and unsecured loans are refundable if homeowner decides not to complete the purchase. However, the money will not be returned until the project is 100% completed and all homes are sold. Then the person will receive a small amount of interest on their money for that period of time. *
* This excludes the first workshop as this one is worthwhile in itself to give everyone the ability to make a fair decision about their participation.
Legal Structure
Community LLC Member managed
2nd LLC includes group and Developer and it is Manager managed
Comittees;
Development
Marketing
Membership
Process & facilitation
Finance & Legal
Membership:
Define what it means to be a member. People make loans in various amounts. Write one page of goals and responsibilities of members. Don’t take more money then needed for the first phase for a 100% credit.
DISCLAIMER: These are notes taken by a busy person, please verify all information yourself before proceeding.
3-1-12