The missing piece is due diligence funding. This short term financing is necessary to inspect the property, commit earnest money, and build out the cooperative's capital plan. With no lender willing to provide these up front dollars, NWCDC is relying on you to help us build up this fund.
With these funds, residents can purchase their community and replenish the fund at closing for use on future conversions. With your support we can
build a development fund
that will not only support the residents at Columbia Court but fund development work
time and time again for future residents
of cooperatives working to buy their communities, build real assets, and further the cooperative solution to the affordable housing crisis.
We are trying to raise
$16,000
for this fund to cover engineering, an environmental site assessment, and legal fees. If
100 people
give
$160 each
, we will meet our goal.
Thank you for your support, together we can do this!
Diane Gasaway, Executive Director
