Invitation to Purchase

The owners of Cottonwood Creek Community [CCC] would like to make this property available for sale.

In an ideal society, the creator of an enterprise, in this case the affordable accommodation of CCC, would own the right to that enterprise for a certain amount of time. Then eventually the original ownership might not be the best interest of the original plan or the social group. Thus a better benefit would be to facilitate a transfer of the enterprise for the good of society.

Addressing economic inequality is only a part of the housing solution at CCC. We need to offer protection to individuals who strive to create independence in their lives. Then we can each feel we are contributing to something worthwhile. Then we can awaken to renewal through thought, desire and action.

As the old banking adage went, “Lend to the Man not the Asset”. To capitalize another human being is to recognize his spirit. AND this is the only sure strategy on which to build a humane future. Micro-financing is the current expression of this humane thinking. In this proposal we are introducing credit, based on the person, not on personal physical assets.

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Can a Resident of a rental accommodation unit, ever have a financial share in the operation?

The owners of CCC suggest a Multi-Stakeholder Cooperative approach to ownership. A cooperative with a social service. Credit Unions are cooperatives, where members have common money needs/interests. With a cooperative there is a return on investment with benefits.

The process of forming a new cooperative requires a step-wise approach, with external advisory support and investor solidarity. Potential members will need to have confidence in their ability, their fellow members and fiscal control measures. Initial intensive advisory support will be needed to ensure confidence and a quality organizational structure.

Here is an opportunity for Residents along with potential investor members.   Some or no residents may be interested in being a member. Some may choose to simply enjoy the continuing benefits. The Steps; first question, are there interested investors? Can leadership be determined? Can we develop a list of membership investors? Creating a legal identity is next. Involve lenders where needed.   Directors of the Association will need to be set up to ensure the B.C. provincial rules for Co-operatives are held in place. Bylaws will spell out appropriate points.

The working assets [all the Units are held as one asset], the relationships with supporters, service providers and suppliers are in place. This is as near to a ‘turn key’ transition as is possible. There is a 25 year history of strong and effective service. The Property Manager, bookkeeper, and accountant are all in place. All members will/can expect responsive and articulate answering of questions and responses to indicated needs.

Is there an agreed upon common Goal/NEED with which to get started? Are there ways to meet this need? Can activities be developed to support this need? Is there potential for growth? What are the risks/doubts? Having operated with out Provincial funding this far, are there grants and further fiscal supports to be identified and accessed for success? Can we continue to live simply?

A good business plan built by an outside, well-qualified advisor and an incorporation of an association with rules of membership done by legal services, will address the arising questions of risk and failure. With no need to ‘open for business’ as we are already in business with effective delivery of services, there can be a successful start up. Potential savings or new steps will be determined by the B. of D. decisions. Leadership by a Board selected for balanced skills and interests will go a long way to ensure potential benefits. This cooperative model will be built from the resident’s perspective. This Cooperative will be organized to provide a very specific service; Affordable Accommodation built on the existing Philosophy, Goals and Mission Statement of Cottonwood Creek Community.

Does this relate to reality?

The papers tell us that housing costs are going up. Another one will tell us that the economy is fragile. [Financial Post, Vancouver Sun, June 10/16] Either way we need to live together in some way.   Over 25 years, we have set up an environment where folks can live simply. Using private funding we have achieved an initial step to meet the housing need in Nelson BC. [Nelson Star, June 10/’16, ‘Council declines….’]. We support affordable social housing! So do 6 of the 7 Nelson Councilors, [nelsonstar.com]. Can cooperative housing be a solution when lead by a private sector leadership team?

See www.CottonwoodC.Ca for references to Goals and Mission statement.

Cooperative Association Act – BC Laws

June, 2016

Barrow Hutchison      email: whutchisonkona@gmail.com

2428 Ymir Rd.

Nelson, BC   V1L 6Z2   Canada

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