@reef-finance just a reminder to fill in the doodle. Wednesday evenings looks like the best time for now, I’ll send out an invite at the latest tomorrow. I have also updated the agenda in my first post.
I had to decline, sorry @VickyVanEyck and all. I am on a quite intense business trip in a different time zone; your 6.00 pm is my noon, and I just cannot make that time.
Hi @reef-finance ,
Alberto is busy next week and won’t be available. Would it work for you to go over Alberto’s document discussed this Tuesday, have questions-clarifications round & approve it during our next meeting? Should we go for next Tuesday or Wednesday as next meeting date? It shouldn’t take more than 30min. I can do almost all days except Friday (office party).
Tuesday evening is fine with me. Or Friday, or Thursday during daytime.
Especially for the newer members : here is the convention I referred to at our previous meeting. It was first drafted by Team Finance members, and approved by the plenary on 9/15 (with importance level 4). It would now have to be changed to reflect that part of the money would be a loan.
As I told you at the meeting, I would have liked to hear Alberto’s input about this sentence in the proposal : “Once the plenary meeting has given the green light to go scouting for a site, all loans are converted to non-refundable contributions to The Reef’s operating fund.”
This sentence means that once we decide to go scout for a site - i.e. when we consider that The Reef is a viable project and we are confident we can make it work - that we go back to the current system, in which the 2000 euro is a non-refundable contribution to The Reef’s bank account.
The proposal of splitting up the 2000 euro into a 500 euro donation + a loan of 1500 euro, is a security mechanism. Should it happen that the economic conditions worsen even further and we consider that it’s not a good time to build a cohousing, then the 500 euro stays in the bank account (as per asbl legal requirements), but The Reef neatly pays back all of the 1500 euro loans it received, so that Full Members lose less money. So the trick is to convert part of the 2000 euro into a loan, so that it is legally possible to pay it back.
The reasoning behind the 500 + 1500 is that this still requires a significant financial token of commitment (wire transfer of 2000 euro), but it’s a bit safer because one can recover 1500 euro should The Reef fail. At the same time it is aligned with our budgetary requirements: we sort of need the 500 euro per household to pay for our current costs (if we apply the current system we are in a deficit), and we’ll need the 1500 euro to pay the architects once we start scouting (for the feasibility studies).
ok, let’s go for Tuesday evening, even if it’s not ideal for me, but important it takes place. Should we say 7pm? I will create a zoom link and put it on our common calendar.
