Join Prospective Homeowners Association (PHA)
Why a Membership Organization for a Mutual Assistance Association?
Membership Sales Purpose
Introduction
The purpose of this organization is to form the basis for two kinds of future COMMON
INTEREST DEVELOPMENTS, to be incorporated later, under different names, as
either a Limited Equity Co-op, or a Market Equity Co-op. Its
members will be working to build a stock cooperative, as
defined by the State of California Civil Code; These co-ops will be formed to
serve two primary levels of members: One will be for "Low to Moderate Income"
buyers and the other for "Middle to Upper Income" buyers. (By
law, the two types must be separate corporations).
Further, to have as its mandate the goal of developing two cooperative corporations, one a for-profit and the other a non-profit. These corporations will be designed to build housing that the middle income family can afford to own in the South Coast of California. Within this overall plan, there are multiple organizations designed specifically to facilitate different aspects of this idea. Prospective Homeowners Association is not itself a co-operative, nor a developer of homes; as it is a Public Interest & Mutual Benefit Group.
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Having said this, our appeal is designed to be to the family that is already considering the purchase of a home, but knows they cannot afford a home of this kind otherwise in this geographic area. This group of persons is already saving and educated to the benefits of owning a home, and is prepared to make an investment upon the successful result of a search for a home.
While there are multiple levels of membership and commitments individuals and corporations may make for the benefit of the organization, not all of these commitments require cash. But membership may be as low as $20 per month, for a low income individual, after a one-time only initiation fee of $125. Membership
The purpose of requesting "dues" is to generate funds to support the cost of start up and initial operations of the Prospective Homeowners Association and to use the majority of the funds collected to hire consultants and contractors and negotiate with landowners. The kinds of funds that are sought, are those which would otherwise be saved by the family to use as for their "earnest money" when they make an offer to purchase a home, their insurance or taxes and down payment. Yet, these funds are not an investment, nor a down payment on a home. They are only designed as "seed money" to build the ground work for further research and development and the creation of additional organizations.
The membership dues, while used to hire the consultants that are needed to start the project, may not by law be also allowed to be credited towards the purchase of a home itself. However, once the land is purchased and the preliminary work is accomplished, and the development organizations (the for-profit owned by the non-profit) are incorporated, the plan is to allow for a further reduction in price to be offered to the buyer by the developer, in consideration of the buyer's "community spirit" as evidenced by their participation in the works of Prospective Homeowners Association. A small percentage of the funds gained in sales of membership for PHA will be allocated towards the overhead of running the organization. While the greater majority of the member's funds will be spent to hire membership sales persons, consultants, designers and planners.
Supporting Prospective Homeowners Association will provide the funds the organization requires in order to continue operations until the other corporations actually build the homes. Once homes are built, the supporting member qualifies as a home buyer and is allowed to purchase a home from the affiliated developer, the monthly fees paid by the member as dues for this membership association, will cease and the homebuyer can then pay dues as the homeowner's association fee, to the either the Limited Equity or Market Equity Co-operative as appropriate. (These two co-operatives are also independent of the two builder-developer (for-profit & non-profit) corporations.
Classes & Dues (Working, Supporter, Honorary)
The Purpose & Activities
of
Prospective Homeowners Association
Who are we doing this for?
Our community and those who serve our community, as well as other citizens and residents.
Why are we doing this?
To create a stronger, more balanced and equitable community county-wide.
Qualifications
Anyone who supports the membership platform,
is associated in one of the initial qualifying
industries & positions and pays dues
qualifies as a member of PHA, and can afford the down payment and monthly payment
required by the financing plan for the home. That's not to say that we
won't support any other resident or citizen who joins, in their effort to
obtain a home. Membership in this organization does not
"guarantee" the purchase of a home, or even at the lowest rate available to
one member or another, but one cannot purchase a home from Competitively Priced Residences
or Homes for the Rest of Us, unless they are a member of this home buyers club
already. (see more on "guarantee" below).
As well, we are working to add an optional benefit of joining a group health
plan for members, and to optionally become a member of a credit union for
co-operative members.
Members of PHA become eligible to purchase homes from either of two housing development companies, depending upon members' income level, either: Competitively Priced Residences (CPR), or Homes for the Rest of Us (HRU). CPR builds housing for middle to upper middle income persons and HRU builds (privately subsidized) housing for lower income persons.
(Membership in PHA doesn't equate automatically to receiving services or benefits of our affiliate organizations: Homes for the Rest of Us, or Competitively Priced Residences). However, in order to apply to own a home developed by either CPR or HRU, one must be a member of PHA.
Preferred* Qualifying Industry Member, by Type of Resident (employee/retirement status) * We are not setting aside memberships or working to create housing especially for the following groups, for now, but may in the future. Instead, we are relying upon the skills of persons in particular positions, who
Construction Industry
employees, such as those workers at Contractors
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General & Specialty (SOC 471011, 474099) Residential, Commercial &
Mixed-use builders
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Sustainable Building - |
Concrete foundation |
Finishing |
Roads, Driveways | Stucco or Siding |
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Flooring |
Arch. Design & property Layout, Land Survey | Wind, Solar |
Fencing |
Plumbing |
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Grading/soil preparation |
Electrical | Roofing | Wallboard | Insulation |
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Landscape |
Cabinetry/Appliances |
Emergency Service Providers (teachers will be called on in emergencies)
Firefighters, Police, Health Workers (as well as nursing home) and other emergency workers, including Teachers and Transportation workers (In case of a crisis, we will rely on these public servants to support the community. We believe they should live here, to give the community support at the drop of a hat).
Hospitality & Retail Industries
Hotel, Restaurant and Retail workers and small business owners (Because our economy currently depends on these workers and they can't afford to live here).
Low-income Workers & Retired Citizens
Farm Workers, Charity Employees, Children of older adults who need to be here to support their parents, Seniors, Disabled, and Veterans. (Last but not least, because farm owners ought to be building homes for their low paid workers they are profiting so much from; the County and other social service and federal programs already cover seniors, disabled and veterans - while the County can always use the help).
Additional Details may be found in The Multi-party Performance or Membership Agreement may be found here
(Please see concepts of the co-operative development and mutual benefit association).