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Amended meeting notes 21.12.20
by Sandy Ross 22 Dec '20

22 Dec '20

Thank you to everyone who suggested changes to the notes. I hope I have made things clearer now. Merry Christmas, Frances

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re discussion with moving company
by mariannequinn＠xtra.co.nz 22 Dec '20

22 Dec '20

Hi team: I talked with Crown relocations last week, who Donald and Miriam have recommended. The person I spoke with - Eliese- was pleased to be talking to me about a move in Feb, as they have capacity then. I've talked to them in relation to our settlement date here ( 19th Feb), and our best guess for the shift into Toiora. As we plan to pack the smaller stuff ( glasses, crockery etc) into boxes, she suggested we would be best on an hourly rate, using three men ( because of our access) to pack the truck at $240/ hr ( GST inc). From what I described, she thought it sounded like 3-4 hours work. The minimum is $590.00 inc GST. Storage is $90/ cu m / wk with a minimum of $30/ cu m for one day. Had we wanted them to pack everything, they need to come to 'survey' the property first. That package is charged differently. Hopefully, this information is useful for someone else. Fingers crossed - Marianne Marianne Quinn Level 3, 115 Stuart Street, Dunedin P.O. Box 20, Dunedin 9054 ph +6434773115 or 0211612050

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re response to Jeffrey's email
by mariannequinn＠xtra.co.nz 22 Dec '20

22 Dec '20

Hi team: for some reason, I can't reply all to this email, and this is one of the rare occasions when I think this is warranted - !! So bear with me: Jeffrey will already have received this. Hi Jeffrey: I'm no financial expert either but I'm coming to understand that the 5% levy is offputting for banks for several reasons. >From my recollection, the figure of 5% was plucked out of the air at the last meeting of the year in 2017. That meeting understood that Earthsong had been hampered by a lack of a fund to develop their commons and we hoped to avoid that. Ie We had not thought through the implications of this being seen as a liability by banks in the future. Last night, Min agreed with Rainer that banks will calculate that on an annual basis against any house that they support through a mortgage, and that it 'would look alarming', especially as regards the risk if there was a mortgagee sale. Looking at it another way, in keeping with our Kaupapa, it makes more sense to plan our developments annually and calculate how to fund these as we go, including how much of our own labour we could contribute, potentially building that into the Body Corp fee, along with our existing 'maintenance levy', rather than end up with periodic 'bonanzas' if several units sell. Right now, it seems from several sources that the 5% levy, effectively a 'capital gains tax', is an impediment to our project succeeding. From views expressed last night, that needs to be our first focus. We can then work out how we do the other bits. !! we're all learning here. Regards, Marianne Marianne Quinn Level 3, 115 Stuart Street, Dunedin P.O. Box 20, Dunedin 9054 ph +6434773115 or 0211612050

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Notes from our informal meeting, Monday, 21 December
by Sandy Ross 21 Dec '20

21 Dec '20

To those who were at this meeting please let me know if I have left out anything important or if anything does not make sense. Frances

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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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