Process for those wishing to go on the UCOL Waiting List for a unit.
1 Go to Urban Cohousing Otepoti Ltd email list.
2 Attend an induction workshop.
3 Pay one-off fee of $100 per person to UCOL. Contact Anne Thomsom (027 4675488).
4 Read resources listed below – cohousing book, highstreethousing.nz website, other, e.g. radio podcast.
5 Sign Introduction to Urban Cohousing Otepoti Ltd Organising Agreement, and pay a fully refundable fee of $5,000.00 per unit into UCOL account to get onto the UCOL Waiting List. This money will ordinarily be held until completion of the build project, unless an offered unit is accepted and the money will be transferred as laid out under 12.
6 Attend meetings, workshops, working bees, dream a little, become involved and start participating in the project, have fun, get to know your neighbours as you wish.
7 Spend time with a UCOL buddy/contact person, asking questions, discussing hesitations and clarifying your own individual needs. Co-ordinator Rosemary Smith (021 335153).
8 Agree to read the child protection policy and sign the declaration regarding child protection.
9 Ensure a Will and an Enduring Power of Attorney are in place.
10 Participate in ongoing decision-making and planning/build work, but not in financial decisions.
11 The Waiting List will show the date of the deposit, all contact details of the member and the preferred unit type. The order of priority on the Waiting List is in the order of deposits. If a unit becomes available it is to be offered to members on the Waiting List in order of priority, regardless of their preferred unit type. If a member does not take the unit, they retain the same priority on the Waiting List.
12 If a unit is offered and accepted during the building period, the $5,000.00 will be transferred into shares of UCOL. Sign the High Street Cohousing Agreement, Sale and Purchase Agreements, and other documentation and make payments as required.
Any person who is deemed a property developer for the purposes of the Income Tax Act 1994 shall advise UCOL of such status before becoming a signatory to the Agreement and shall be prohibited from owning a sufficiently large share in UCOL that would deem any other Member to be a property developer by virtue of the definition of ‘associated persons’ given in the Income Tax Act 1994.
13 Receive unit title on payment of remaining balance once build is complete.
14 Move into your new eco-home and neighbourhood!
Hi Anne
It seems to me that it is unclear what the “waiting list promise” is.
I wonder if tonight you can produce any written records of how that’s been worded or explained to interested parties.
We may then agree on its clarity and relevance.
Regards
Sander
From: Ucol-shareholders <ucol-shareholders-bounces@list.king.net.nz> On Behalf Of Anne Thomson
Sent: Thursday, 26 November 2020 10:29 am
To: UCOL shareholders <ucol-shareholders@list.king.net.nz>
Subject: Re: [Ucol-shareholders] Item for Thursday's agenda
Sorry - wrong attachment
On Thu, Nov 26, 2020 at 10:22 AM Anne Thomson <e.anne.thomson@gmail.com> wrote:
This is some background information for tonight's dicsussion of "sale of A2":
The directors discussed what to do with A2 and were divided as to the best way forward.
We have 4 options to decide between regarding the sale of A2.
1. Sell it to the DCC and avoid all this trouble. (Alex's preference)
2. If we want to sell it ourselves, put out a public tender/deadline sale as suggested by Anthony Hamel, and have a group decision/vote on who to sell it to. Has the advantage of establishing the true market price. Has the disadvantage of not sticking to the waiting list promise.
3. If we want to keep the waiting list promise, then Alex would say we need to sell it to the brothers who put their money in and kept it in, Anne and Catherine would disagree.
4. Sell it to the Denleys on the rationale that they first put their money in before the person(s) in 3. Alex says, "I think this is just us deciding who to sell to rather than faithfully following the procedure. In which case I think we're better to dispense with the waiting list entirely and go with 2, which would still let us decide on the Denleys if we felt that was the right option."
Further information: The market valuation done by Shane from Paterson Valuation came in at $625,000 - which is well under cost. (Cost for A2 is at least $654,000 +cost of appliances + cost of painting + cost of wall unit - DCC was going to pay $675,000 excluding GST, so in effect more like $776,000) Two market appraisals from different real estate agents came in $700-800K. The valuation made no mention of Passivhaus esign, nor district hot water scheme.
I also attach the current waiting list.
Thanks,
Anne