December 2020 - Ucol-shareholders

Fwd: UCOL insurance proposals
by High Street Cohousing 21 Dec '20

21 Dec '20

Hi all, FYI information from Tina Gillan, our insurance broker regarding insurance proposals for Toiora High St Cohousing. Tina recommends that we go with the NZI quotation. I will make an appointment to see her in the New Year to go over the detail. Claire has said she would come too - please let me know if anyone else wants to be part of that meeting. Anne ---------- Forwarded message --------- From: Tina Gillan <Tina.Gillan(a)rothbury.co.nz> Date: Wed, Dec 16, 2020 at 2:53 PM Subject: RE: UCOL insurance proposals To: High Street Cohousing <ucoldunedin(a)gmail.com> Cc: UCOL Build <ucolbuild(a)gmail.com> Please find attached the quotations received from NZI and Vero. At this stage I have attached NZI’s wording for your reference. Once you have been through the attached we do need to make an appointment to sit down and go over everything in detail. Also as indicated in the Attached terms I am working with NZI to have the NZI MD Foamed Plastics Insulating Panel Endorsement modified or removed - I will come back to you once I have received a response from NZI. Any queries please let me know, in addition I will call you tomorrow to discuss this further. Thank you Tina *Tina Gillan* *Senior Commercial Broker* QIB *DDI:* +64 3 470 3668 <+64%203%20470%203668> *ext* 3908 *M:* +64 21 988 159 <+64%2021%20988%20159> A referral is the best compliment I can receive. If any of your friends, family or business associates require assistance with insurance, please get in touch. [image: https://mail.rothbury.co.nz/rothbury_logo.gif] *Rothbury Insurance Brokers Otago* Level 2, Public Trust Building, 442 Moray Place, Dunedin 9016 PO Box 1321, Dunedin 9054 *T:* +64 3 477 8217 <+64%203%20477%208217>* F:* +64 3 477 6478* W:* www.rothbury.co.nz A disclosure statement is available on request or view here <https://www.rothbury.co.nz/images/uploads/brokers_pdfs/Tina.Gillan.pdf>. <https://twitter.com/RothburyNZ>[image: Linkedin] <http://www.linkedin.com/company/497926?trk=tyah&trkInfo=tas:rothbury> [image: twitter] <https://twitter.com/RothburyNZ> Download the My Rothbury app now [image: Google Play] <https://play.google.com/store/apps/details?id=com.rothbury.android> [image: App Store] <https://itunes.apple.com/nz/app/my-rothbury/id928128044?mt=8> [image: Youtube] <https://youtu.be/0HHk590lua8> [image: Best Workplace] This email is confidential. If you are not the intended recipient please notify the sender by email and delete this email from your system. *From:* High Street Cohousing <ucoldunedin(a)gmail.com> *Sent:* Wednesday, 16 December 2020 2:26 PM *To:* Tina Gillan <Tina.Gillan(a)rothbury.co.nz> *Cc:* UCOL Build <ucolbuild(a)gmail.com> *Subject:* UCOL insurance proposals External mail - think before you click Hi Tina If you have insurance information ready this afternoon, please would you copy Maria Callau at ucolbuild(a)gmail.com into the email when you send it I am out of town for the rest of the day, but there is a meeting this afternoon that would find that information useful, so it would be good for Maria to get it directly when it is ready, Thanks, Anne

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Mortgage A3
by Sander Zwanenburg 21 Dec '20

21 Dec '20

Hi all Karen and I received a phone call from our bank this afternoon (co-operative bank) after their legal review of our pre-approval application. Our case had gone high up within the bank. It did not bring up the BC rules or covenant but it had questions about our UCOL liability. If there is no more liability come settlement day (ie guarantee is released or UCOL loans paid off) then pre-approval isn’t problematic. Alternatively, no clear sight on pre-approval. If we still have a loan outstanding for which we guarantee then the question would be if it is held with our property as security and if the loan is manageable. This probably means we need to supply more documentation for the bank’s review. I’ll be zooming in so see you soon. Sander

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bnz
by Roz Wilson 21 Dec '20

21 Dec '20

Hi, knowing the covenant was causing the problems with the bank we emailed a copy to bnz and asked if they could check they would approve a mortgage. they have just replied to say they would need to review more documents but it is unlikely they would now give approval. Anne has all the information from the bnz for the meeting tonight. Bnz has asked people not to make new applications to them in the meantime. Regds roz

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Discussion on mortgages and cohousing
by High Street Cohousing 20 Dec '20

20 Dec '20

Hi all, The Zoom link for this evening's discussion is the usual one - via Zoom - Meeting ID: 9016 25 9016 Password 25 25 25 https://otago.zoom.us/j/9016259016?pwd=ZGZQRnM2L2tsai90eENKRExQUEtJQT09 We will gather at 25 Pacific Street at 7.30pm this evening (Monday) See you then, Anne

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Discussion re. mortgages
by Anne Thomson 20 Dec '20

20 Dec '20

Hi all, The directors, Maria and Rainer had a conference call with Stephen Edge yesterday to clarify the possible next steps to make it possible for UCOL shareholders to get mortgages to settle their unit purchases. Attached are notes of that meeting. You are invited to 25 Pacific St on Monday 21 December at 7,30pm, particularly if you are in this position personally, to discuss what has been happening, to share the information people have gathered from their various sources, particularly with banks, and to think about how we work through this. Earlier on Monday, at 2pm,there will be a meeting with Simon Milne, from McMillan & Co There will not be any formal decisions made on Monday night - for that we need a full shareholders meeting with adequate notice, etc. I will set up Zoom for those who cannot be present but would be able to Zoom in. Let me know if you will be coming in person, or if you want to Zoom. Anne

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re confirmation of meeting monday 21st pm and venue
by mariannequinn＠xtra.co.nz 20 Dec '20

20 Dec '20

Hi team: I refer to Anne's email response to Juan on Thursday, in which she proposed a meeting this coming Monday 21st Dec, with the directors and all those concerned about the position the banks are taking on loans for those wanting to purchase Units in Toiora. ( As I read that, that's all of us!) I would appreciate confirmation of the time and venue of this meeting, please. As a group, it's my understanding that we have a number of significant things to ponder over the summer break. For that reason, I really hope as many people as possible will attend - and I am concerned that some may not even realize this meeting is happening. Thanks for confirming date and venue. Best wishes meantime Marianne Marianne Quinn Level 3, 115 Stuart Street, Dunedin P.O. Box 20, Dunedin 9054 ph +6434773115 or 0211612050

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Site photos
by Maria Callau 19 Dec '20

19 Dec '20

Maria Callau 021 1847490 Sent from my iPhone

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Mortgage issues
by High Street Cohousing 17 Dec '20

17 Dec '20

Hi all, The Directors have met tonight and discussed the situation regarding banks not being willing to give mortgages to a number of cohousers. We recognise that this is a situation which is causing a lot of anxiety, and we are working hard to find a good solution for everyone. Stephen Edge has said that having a covenant on the title and in the body corp is the most secure way to embed cohousing in the future of our neighbourhood. He is working to ensure that Kiwibank will be able to come up with a solution, and has requested further information from Earthsong who have been able to obtain mortgages from Kiwibank and other sources. The directors will be talking directly with Stephen in the next few days. There are ongoing approaches to other banks as well. Changing the documentation to delete the covenant from the unit titles will take a considerable amount of time and expense, and will require everyone to re-sign our agreements. We would only want to do this as a last resort. It seems likely that settlement won’t be until the end of February and so we have time to work through step by step. We are asking for your patience. Warm regards, Anne, Alex, Catherine & Susan

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Heritage Fence
by Catherine Spencer 17 Dec '20

17 Dec '20

Hi all, I am pleased to announce that the DCC Heritage Fund has granted us a further $15,000 in the latest funding round towards the section of the fence, where the bike shed was, in order to complete the perimeter. This amount is to a little over half of what we requested. The Heritage group will organise a plan for the cumulative work from this funding round and the previous one to be done in the New Year. Zealsteel will complete the reinstatement of the remaining section from the scoping exercise now that the new nib wall has been formed on Alva St. Catherine

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Private Variation Claim 2 - Payment
by High St Cohousing 17 Dec '20

17 Dec '20

Hi all, Thanks to all that needed to pay for their private variation - Claim 2. All money has been received and is in our Toiora Social Account now. Jan and Sara will proceed with the payment of this invoice: *PRIVATE VARIATION Claim No.2* *INV 6793* *TOTAL $19,478.72* Many thanks, Maria -- *Maria Callau* *TOIORA* High Street Cohousing UCOL Member and Project Coordinator 0211847490

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Ucol-shareholders December 2020