Team Finance: getting started

The Reef
41

Hello Lee, below my humble thoughts, to be completed by Ugne and Alberto :slight_smile: :

  • The missing money (site & architects bill): bank loan or intra-group lending => proposal: what will we do, how will the cost of capital be covered?
    We are currently exploring this within our team - mid September seems doable.
  • Newcomers buying in their share: how much will newcomers pay for the site, and to whom?
    TBD within team finance
  • The 2-4% mark-up: which percentage, starting when, plus how will the extra money be linked to the cost of capital of the missing money?
    If my memory serves me well, we concluded that this is best treated during a full members meeting. We could base the discussion on the existing proposal, it could therefore happen rather soon.
  • Société simple: final tweaks to the statutes
    If I haven’t missed something then we are still waiting for a return from the lawyer and can then discuss.
  • Société simple: Board selection
    There was a process put in place by Chris and yourself: SoSim board selection process - #11 by Lee I am not sure to what extend results from the first round are useable. Perhaps best to treat this upon Chris’ return from holidays?
  • Valuation method for the units
    According to 2.2. of the contract with the architects, they will propose prices for each unit. I think we can only get involved once we receive their input (avant-projet).
  • Financial risk mitigation contract
    I am not aware of this topic but perhaps Ugne and Alberto can jump in
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42

Thanks Richard, great update. Nothing to add, except:

I don’t even understand this. Does it mean the accord préalable?

43

Ok, so live chat caught up with this topic. The most up-to-date conclusions are in the “bilateral with Ugne” document.

On another topic: the mighty @Christian would like to join Team Finance & Legal, so I added him to your group tag.

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