Thanks for your work Min.
As I raised at the meeting, the fees that you proposed for R&M included an insurance and maintenance element, electricity, sundries and admin, but no rental element.
I am very happy for R&M to be members, and very happy for us not to charge a rental element in the fees or only to charge a nominal amount as discussed, but if we want to separate out and itemize what a membership fee could cover, then we should include a rental element.
The cost of the common house I roughly estimate to be $600,000 ($500,000 land and buildings, $100,000+ cost of improvements such as guest rooms and kitchen etc, this is likely an underestimate. The value of the common house and land if it were sold would likely exceed $1m.)
That cost is included in the prices of our units which we are all going to pay. A rental for the common facilities would likely be between 18,000 (3% on $600,000) and 52,000 (from the rule of thumb $1 per week per $1000 of per annum, and a 1/26th of that would come to between $13 and $38 per week.
Once we own the common house and our own houses, they belong to us and we can choose to let whomever we like use it with or without charge if we want. However to do that with the common house requires agreement of all of us.
As I said at the meeting I am happy to allow R&M to become members for a nominal rent of $50 per annum in addition to the operational amounts you circulated. In recognition of the extensive involvement R&M have had in the group and also that they contributed $10,000 to common facilities. (On average unit purchasers will contribute $25,000 or more to common facilities. Of course we will probably get our contribution back if we sell our units, R&M I assume will not.) But I think it's wise for us to acknowledge and spell out the financial aspects of membership and use of the common facilities, and make sure everyone is happy with the arrangements. I prefer we acknowledge of the financial value of what we are offering. It reduces the risk of disagreements arising in the future, and gives R&M in a more secure position.
I note that we have all contributed varying amounts of our time and energy to the project on a voluntary basis but those voluntary contributions did not get rewarded with discounts. I.e. the voluntary contributions and the financial contributions are completely separate. We have each contributed to the common costs in proportion to the cost of our units.
Thanks, Alex
On 1/04/21 4:12 pm, Y Lee wrote:
Hello all I wanted to publicly answer Roz's questions, and am aware this is going out a bit late for inclusion in meeting tonight My responses in RED
On 1/04/2021 3:09 pm, Roz Wilson wrote:
Hi min, we won’t be there tonight but these are some thoughts I sent to directors. Not heard back from any of them yet and wasn’t sure if you were going to be doing it. regds roz
*From:*Roz Wilson michael.rosemary@xtra.co.nz *Sent:* Wednesday, 31 March 2021 8:14 pm *To:* Anne Thomson e.anne.thomson@gmail.com; Catherine Spencer cmspencer.nz@zoho.com; alex king (alex@king.net.nz) alex@king.net.nz; Susan Jack susanjjack@gmail.com *Subject:* associate membership
Hi, not sure if we will make it tomorrow night. we have had some thoughts about this over the years so would like to list them. not sure what this committee is rosemarie refers to or if it even exists so am hoping if it is a committee decision one of you will be on it.
Our thoughts have been:
- We need rules for all possible ass members, not just those at no. 31
Min: I propose Rosemary & Maurice join as full Toiora members, with all the rights and obligations of other full members as practicable. They cease to be members when they leave their property for good. And obviously there will be no automatic transfer of ownership to the next owner of their property.
We should be doing our own maths not relying on what earthsong charges. We know they haven’t been happy with every decision they have made.
Min: Yes, I have done our own maths, and will present it tonight. Will provide a copy to be attached to the minutes later.
If there is an annual fee does this cover one member, one couple or one household
Min: Annual fee is per household, like it is for the rest of the (non-tenant) members.
While we still had the use of the common house think rosemarie booked it out for a family event about once a year.
Min: Rosemary would have the same rights and obligations as other full members and tenant members. Including booking the common house if members can do that.
Rainer said (I think) he estimated the cohousing component of his unit price was about a hundred thousand dollars. Which would be take a long time to work off at $1000 a year.
Min: The Cohousing component of our unit price does not apply to Rosemary, since she does not own a unit. However, Rainer may also be wrong. I know people who would pay LESS for the restrictions co-housing puts on our units - and our difficulty in getting mortgages implies the banks agree. Note: Properties on the Waiheke Island Eco Village that Lisa Barlev came from sell at about 20% less compared to the rest of Auckland. Because the banks won't give mortgages on them.
Would ass membership be identical to full membership? If ass members were allowed to be on committees or lead teams their decisions could affect the full members’ ‘investment’ long term.
Min: I recommend full membership for Rosemary and Maurice, so not thinking about what Associate Memberships will look like yet.
would ass members be allowed to vote at meetings?See above
What would it cover? Use of laundry, car parking, guest rooms etc etc
Some of you know we have raised this once or twice before and from the responses we felt it was in the too hard basket. No wonder!!! Regds roz and michael
Regards Min
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