Our membership makes decisions using consensus, and only individual members, aka shareholders, participate in consensus decision-making. If a couple purchases one share, a single shareholder must be designated. Several of our member couples own two shares, which allows both members of the couple to participate in decision-making.
One couple, both members, built a small part-time residence and they pay a small share of the relatively low property tax. Their beautiful house, is very energy efficient and has other “green” features and arrangements have been made for it to be a permanent membership asset.
Three of 20 authorized shares are available. One is owned by a member who has moved out of state - her asking price is $75,000. Another is owned by several members and a friend who purchased it to help us finance the successful addition of an adjoining five acre property. And another is owned by the LLC and is for sale for $78K.
This is a safe, if relatively illiquid, investment. The group owns the property and its structures outright, having retired its mortgage some years ago, so there is no danger of default. Based on recent property sales, it would appear that the combined value of the 88 acres, the habitable houses and other structures on the property is more than $2,000,0000 – but given the unique nature of this land holding it is inherently difficult to determine a precise valuation.
Investing in a Share and Rights of Membership
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Members leaving the group are responsible for finding purchasers for their shares who are acceptable to the group following a 6-month probation period. (The group as a whole has always helped in this process.) Over the years, about a dozen shares have changed hands.
When members leave the group, it is typically because they are moving from the region. One member left due to financial hardship, continuing to visit the land regularly as a guest over the years, and then repurchased a share when circumstances allowed. Of the 12 original founding members, five remain. The LLC has authorized 20 shares.
Members can sell or bequeath their shares as they see fit – but use rights of the property can only be conferred by unanimous consent. This means, for example, if a member’s offspring inherits a share but conducts themself in ways contrary to the group agreements, the offspring’s use rights can be withheld, thereby incentivizing them to sell to someone more able to honor the group’s values.
Sale and Inheritance of Shares
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As mentioned previously, one couple built their own small house and lives there part time. With group approval, any member can build their own cottage, renovate existing space, park an RV or create their own “glamping” spot. Such plans are subject to approval by the group and must be sited, designed and built in a highly ecological manner
Option to Build
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Members participate in bi-monthly meetings, now held via Zoom or similar online platform, that facilitate discussion and full-consensus decision-making about the land, its uses and its structures.
We take great care to maintain and improve the property when needed. Each member chips in $88.50 per month towards maintenance, utilities and insurance, but most members cover $38 of this monthly expense by putting in 32 hours of work annually, thus dropping their monthly cash payment to just over $50. This work can be done on one's own, or during ‘work party weekends’ when upkeep and maintenance tasks are performed, often under the guidance of a few of our members with substantial carpentry, electrical work and plumbing experience.
Member Responsibilities
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We are currently reviewing and revising policies to:
1) to better accommodate members and guests who seek to bring their dogs when visiting the land (Dog Policy)
2) to help transition the community to the next generation (2nd and Senior Generation Policies)
3) to reconsider options for partners of members to engage with the land (Partner Policy).
Community Evolution
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