Introduction to Time Lines &
Milestones
(Refer to link to outline for Income and Expense Projections)
May 19, 2012
Message from
Gary R. Cook, Founder & Development Sponsor
The purpose of this page is to outline what the time lines are for the different aspects of this project (For all five corporate entities): Prospective Homeowners Association (a Mutual Benefit Society), two housing development companies (a for-profit and a non-profit) and two housing co-operatives: a Limited Equity Co-op (LEC) and a Market Equity Co-op (MEC).
In conjunction with this time line, there is a Multi-party Performance (Membership Agreement) Contract that members and the Development Sponsor will all sign, so that all parties to the development are aware of the expectations of participation.
The purpose of being aware is so that people who want to see the progress of the formation steps at any point in time, can see where the organization(s) are at in their development.
Also, it is important in regards to whether we are meeting our goals and what percentage have been met to-date. An organization and its supporters need to watch for results and if not what expected, to adjust either the goals or the methods previously used to attempt results. If the results cannot be met through this adjustment, the organization and its supporters need to decide whether the goals can be met, and define what it will further take to reach them. If it has been decided that the results cannot be reached at all, by these additional attempts, then the organization must come to an orderly and timely close.
In the public trust, when one accepts donations, one needs to be clear what they will be used for and at the same time, how the donations are having an effect on the goals and activities of the organization. Each member, donor or supporter that provides funds to the organization will sign a document that outlines how the provider of the funds expects them to be allocated, and spent, in specific amounts or percentages, over what period of time, or upon the organization's attainment of other goals.
Another issue of concern should be what the cost of the
organization's overhead is compared to the total expenditures on the
cost of meeting the goals. Our costs are fixed at 10% of the total raised
from memberships.
Sincerely, Gary R. Cook (626) 940-7422