Finance & Legal

Revises the late payment policy, there is a current fee of $25 if late, and there is a threshold of three months in arrears before legal action is needed. But since the last MAF increased so much, the threshold is no longer three months. We want to give the three months leeway back. Also changing the definition of "dues" to include special assessments and EV charges. Instead of $1000 of arrears to trigger the lien, we want to change it to $1800 in arrears to place the lien. $2800 would be the new threshold for when to begin legal action.

2025 Skills & Thrills Funds for Master Deed Weekend

This proposal is being brought forward to change the dollar threshold above which 3 bids are required. For 20 years, that threshold was $500, and the F&L Committee is proposing to raise it to $2500.

We have been in search of a new lawyer, been working on the master deed among other things. Our previous lawyer just stopped answering us. We didn't spend all our funds in 2023 and realize we will need that money in 2024 with our new lawyer. So we are asking to move the operating budget amount of $1600 from 2023 into a savings account that we can spend in 2024, in addition to the money we have set up in the 2024 operating budget. When we started budgeting for master deed work it was pre pandemic and rates have gone up, and new lawyer rates are higher, but we had already set the budget for 2024.

This proposal addresses items that would no longer be in the fund based on
the new criteria, but which we have already started saving for. This
proposal says let's keep them in until we actually replace the items, then
take them out after that.

The agreement states that no resident of Great Oak can operate a Bed and Breakfast rental business from their home due to the lack of liability coverage from the community's insurance policy.

Simplify the way we handle deficits or surplus funds. Each year, once the books have been officially closed after taxes, the bookkeeper does the calculations to determine how much operating money, if any, is left. If we have a deficit, a special assessment is issued. If we have a surplus, it immediately becomes community money, not committee money.

Internal transfers (between GOCA accounts) will be recorded with a note rather than as a loan.

F&L is asking for the community's approval to work with our attorney to incorporate changes into our Master Deed. Changes include:
* Buyers of units must fulfill certain requirements
* How to Sell Your Garage Usage Rights
* GCE/LCE Designations / clarifications described in a matrix / spreadsheet.

We would like to install a Solar Photovoltaic (PV) system on the
south-facing roofs of two garage banks to provide low-emission,
renewable electricity for the Great Oak Common House

Policies and procedures for addressing nonpayment of assessments, including increased late fees and periodic reports on past due accounts without divulging names, to incentivize timely payments and protect the Association against unpaid fees.

The Finance and Legal Committee is a standing committee that addresses the financial and legal concerns of the community. The committee is empowered to implement decisions made by the community, and their responsibilities include budgeting and financial planning, managing investments, preparing taxes and reports, and working with legal experts to provide information to the community.

Final Zoning Compliance from Scio Township

The Second Amendment grants Touchstone Cohousing Association a permanent easement for storm drainage on Great Oak Cohousing's property, allowing construction, maintenance, and repair of storm drainage lines. Additionally, it updates the Master Deed's Exhibit B with new sheets, replacing the previous ones.

A member household facing a dire emergency may request a postponement of its Association and LTCRF fees - either in whole or in part - for a period no longer than 3 months

Sets a deadline after which late fees will be applied.

The amendment modifies ownership and usage rights for the "Preservation Area," allowing it to be shared with a proposed future development and updates the common elements to include new garages and reassign unit numbers. Additionally, the front and rear limited common elements of the units are revised and new garage buildings are added.

Procedure for how to be reimbursed for purchases made for committees, either through pre-approval or post-approval. Purchases intended for reimbursement need a receipt.

You need to get three bids to buy something more than some amount of money - $500 is the current proposal. There may be some times when you don't do this - when this happens, it should be documented.

"Add to 1: "A co-owner may make changes to the exterior or structure of a unit as provided for in the Book of Common Agreements, and will also have th

The bylaws are an official document outlining how the community operates. The areas covered include: "The Condominium Project", "Membership and Decision-Making", "Meetings and Quorum", "Administration", "Assessments", "Taxes, Insurance, and Repairs", "Use and Occupancy Restrictions", "Mortgages", "Leases", "Arbitration", "Miscellaneous Provisions"

Exhibit B - Subdivision Plan (Survey Plan, Site Plan, Utility Plan,rnFloor Plans for Unit Types A-D)

This is the legal document which defines what you own, and how we're comprised as a legal entity. This document contains sections such as: "Definitions", "Title of Project", "Nature of Project", "Common Elements", "Unit Description and Percentage of Value", "Rights of Mortgagees", "Damage to Project", "Easements", "Future Access and Utility Easements", "Future Easements, Licenses and Rights-of-Way", "Amendment or Termination", "Assignment"