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
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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