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Both Community GroundWorks and TG Cohousing are
worried about rent creeping up above (or
significantly) above $1,000 per month for the
building -- might it be possible to negotiate a
maximum rent amount?
Madison Area CLT understands that both
Community GroundWorks and Troy Gardens
Cohousing have limited budgets, and therefore
can't absorb significant rent increases in the
event of cost overruns for the project. This is
a topic we should talk about at the next 3-way
meeting in September, if not before.
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Can I see the funding applications that Madison
Area CLT has secured to date?
The funding applications have been posted in
the "Chronology" section of this website since
December 2007. Just scan through the different
years and you will find the grant applications
for Madison Community Foundation, Veridian
Foundation, and the WI Dept of Natural
Resources.
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Can TG Cohousing and Community GroundWorks meet
with architect Jim Glueck?
Yes -- but be aware that Jim will not be
available to meet from Aug 21st to Aug 27th.
Just email him at
glueckarch@sbcglobal.net or
give him a call at 251-2551 to set up a
time to meet.
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What are the different ways to reduce the cost
of the building?
1) Make the building smaller -- but keep in
mind that making rooms smaller does not save
you $100 for each square foot reduced.
2) Reduce or eliminate expensive features --
such as a kitchen.
3) Use inferior-grade materials, such as vinyl
siding.
4) Reduce the insulation levels of the
building, which in the long-term will cost much
more money than is saved up front.
5) Reduce the number of windows, which will
save on heating and cooling costs, but which
will also reduce daylighting.
6) Pitch in with fundraising, which will reduce
the amount of mortgage financing needed to
cover the cost of constructing the building.
For a 10-year mortgage, every $10,000
raised reduces the monthly prin/int payment by
approx. $113.