Team finance: gearing up for JET-14

Hello @reef-finance, we have four immediate tasks for the JET-14 manouver. Yesterday, at the plenary, Richard and I sketched out a possible division of labour. Let’s see if you agree:

  1. Make an appointment with the notary for Friday or ASAP: Ugné, deadline ASAP.
  2. Make a proposal for the discount to first movers: Alberto with some help from Quentin (I will need Mark for this). Deadline March 6th.
  3. Consolidate the statutes and send them to the notary for a last approvale: Richard. Deadline: ideally 28th of February, or one day before the meeting with the notary. Can be stretched to March 5th.
  4. Finish the poll on how much we can put in as an advance: Alberto. Deadline March 6th.



Thanks, @alberto , on it.

Hi @alberto , @RichardB , @Lee
Our notary in not available on Friday. The earliest possibility is Saturday, 2nd March at:

  • 9:00am
  • 12:00 pm
  • or later

Should we go for 12:00pm?


I see we have a meeting planned on either 4th March (next Monday) or 14th March. Given the list above, would you feel we need an alignment meeting on Monday (4th March) or 14th March is ok?
Perhaps an aligning is needed. It will also depend on what the notary tells us, I guess.

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Hi @ugne,

Mark said that we must talk to the notary before we even talk to the seller. So the purpose of the emergency meeting is getting to a shared understanding of what we can and can’t do, and what we can do financially to collect the money and buy the site.

I can make it on Saturday at 12:00

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Sat noon also works on my end for a call with the notary, Prior to the call, I think we should send him a little summary of the case and our questions so he can come prepared, perhaps we can ask Seb or Sarah to provide a write up in French?
I’ll go through the statutes by Thu evening so we can share them on Friday, ideally one of you can give them a final peer review.

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Hi @reef-finance and @Lee ,
please find here the updated statutes to share with the notary:

  • Lie, you made a comment in 5.16 regarding the voting rights of each associés. I’m not sure what the issue is and have left out, propose to discuss with him on the call.
  • What still needs to be defined is the quorum foreseen for the GA in 5.17.
  • Regarding responsibility of courts in 12.15, I chose Brussels as it seems most appropriate.

Pls let me know if any further comments.


Thank you so much @RichardB .

@Quentin would you be willing to take up the spreadsheet simulation task before the next Full Members meeting (March 6th)? What needs to be done:

  1. Acquire the budget file from the architects.
  2. SImulate scenarios where you add, say 100 and 200 m2. This will have a cost, but it will allow to build 2-3 extra units. Let’s then see what effect this has on the price per m2.

Great work tonight!


@RichardB this is something that is important to me. From the top of my head my question is why the sentence doesn’t say “seut ou ensemble”, because the way it is written up now it reads to me “seul” that every individual gets two votes.

@Caro, just before we said our goodbyes Alberto quickly asked you whether you would be willing to write up a short summary for the notary. It doesn’t need to be long or spectacular of course, but having it written up in a French that other French speakers understand would be of incredible help :sweat_smile:. If it’s not possible, no problem of course.

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Hello @reef-finance,

I am not sure how everything is being coordinated these days, but @Quentin offered to draft a short email to the notary. He will also create an ad-hoc Signal group for faster communication.

@RichardB @alberto @ugne and @Quentin can you please coordinate with each other? TIA!

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@Lee , @reef-finance : could you ask the notary what he thinks about the advice from the François and Marc to go for a 10% margin instead of 15% margin for new-build projects (contrarily to renovation)? Thanks!

@Lee : did you get to ask Mark about this?


I forgot but I’ll follow up by email.

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hi @reef-finance
Just for your information, following our yesterday’s (2 March) call with the notary regarding Jette-14 site, P.Y Erneux has contacted Matexi & the seller (we are in cc). I have saved those emails and translations (into EN) in the notary file here:

He is giving us some suggestions here (architects in cc). We can discuss this tomorrow during our finance meeting at 8pm.


Hi @reef-finance and @Lee , did you get to ask this question? And the one about the abbattement?

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The meeting was very short and strictly limited to the handling of JET-14, so there was no opportunity really to talk about anything else.

Do we have a list with questions for the notary somewhere?

@Sarah , this was touched upon last year when he mentioned 15%, see notes of the meeting:
This was under a higher inflation environment, if you would like to learn how Triodos evaluates this with current decreasing inflation, feel free to add the question to the document.

Yes, I remember that, but I also have a vague memory that he said that in reaction to the fact that we said we were taking 20%, and that he usually recommends 10% and that 15% was very very safe, and maybe not a bad idea given the current climate… So I thought it might be relevant to rediscuss this, as the architect and mark seemed to say also 10%…
But yes, good idea to ask the bank! Will add it to the list.