Differences

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--- funding_ownership [2021/11/21 04:38] – abu_rashid
+++ funding_ownership [2024/10/28 03:09] (current) – abu_rashid
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-The initial cost of founding the community will be the purchase of the land on which the community will be built. Ideally this cost would be covered by founding members, but this is unlikely to be sufficient, and so we must resort to alternatives, such as loans or SMSF pooling. Those founding members unable to contribute to the initial cost will need to enter into an agreement to pay their share over time, which will be used to either service the loan or to contribute back to the SMSF pool. This cost will then further be reimbursed as new community members join and contribute to purchase their share in the land.
+The initial cost of founding the community will be the purchase of the land on which the community will be built. Ideally this cost would be covered by founding members, but this is unlikely to be sufficient, and so we must resort to alternatives, such as loans, SMSF pooling or angel investing. Those founding members unable to contribute to the initial cost will need to enter into an agreement to pay their share over time, which will be used to either service the loan or to contribute back to the SMSF pool. This cost will then further be reimbursed as new community members join and contribute to purchase their share in the land.
 === Ownership ===
-Members will not have title ownership over the land, but a share in a body corporate under something like a community titles scheme. This ownership will not be transferable to non-members. However members will have their own assigned land, that they are free to use at their discretion, within the boundaries of the rules setout in [[Structure & Rules]], and which they own within the context of the community at large.
+Members will not have title ownership over the land, but will be benficiaries of a trust fund. This ownership will not be transferable to non-members. However members will have their own assigned land, that they are free to use at their discretion, within the boundaries of the rules setout in [[Structure & Rules]], and which they own within the context of the community at large.
-Common buildings will be owned by the body corporate and maintained by all members. This will include things like work sheds, place of worship, a reception centre, classrooms and other common areas.
+Common buildings will be administrated by the community and maintained by all members. This will include things like work sheds, place of worship, a reception centre, classrooms and other common areas.