Tuesday Meeting at 6:30 on Zoom?

[Gwendolyn Hallsmith]

Hi all -

We have not heard from Tomas or Luigi about whether Tuesday will be a good day for a meeting. Assuming they can make it, let's plan to meet Tuesday at 6:30 pm on Zoom. The Zoom link is:

https://us02web.zoom.us/j/87816249622

I have the appraisal for our house, but not yet for the home site. His valuation of our house is $242,000. I also asked my accountant to do an analysis of the payments that have been made to date on the mortgage. The remaining balance as of the end of 2021 is $83,456.07. I made a mistake; I had already lowered the interest rate on the mortgage to 1.9%. The note I was looking at with 2.74% must have been an earlier draft on my computer. The mortgage deed is for the correct amount.

All of this comes with a lot of backup paperwork. I've created a new folder for the Headwaters Homeowners Association on my Google Drive and I've granted permission to the members of our community to see the documents there. These are not for public circulation. In most transactions like this, we would have signed confidentiality agreements before I released all this information. So to be perfectly clear, I am sending it to you in confidence. It is my private information, there is no part of it that is public.

The folders in the Homeowners Association folder are as follows:

Appraisals: Right now there is only the appraisal of the house. I'll post the appraisal for the home site there when I get it. The only thing that wasn't fully valued in the appraisal was the guest house, because it's on wheels. 

Bank info: You asked for all the bank statements from 2019-2021. They are in subfolders in this file.

Comparables: In the long wait for the appraisal, I looked up sales of building sites and homes that are similar to what we are selling here. Unlike the actual professional appraisal, I didn't limit the search to this immediate vicinity because there is nothing exactly like Headwaters in our market area. For the homes, I found other homes in intentional communities in Vermont. For the home sites, I found other pieces of land that already had access to water, wastewater, and other utilities. There was only one that was part of a condominium association. It's just in case you're interested, not required reading.

Debt and Repayment: This includes the amortization schedule from my accountant, with the payments made and the remaining balance. I have also uploaded a copy of the mortgage deed with the terms in it. 

Financial Reports: I have uploaded the financial reports for 2019 and 2020, along with the report I had done through November in 2021. I'll have it done through December by next Tuesday, assuming we'll meet then. By then I also hope to have figured out how to get everyone onto Quickbooks Online. Quickbooks went through a major change this year, now it's only available online whereas before I had it on my computer. So that means I'm also on a steep learning curve with respect to the new online software.

You said you wanted the bank statements to build a budget for 2022. I think you really need to look at the financial reports instead. I had sent a proposed budget for 2022 back in October or November, I'll paste it below. The main difference now is what, if any, money will you dedicate to financing whatever you decide to buy - my house, the shares, the common land and facilities, the home site. In this budget, it assumed you would be paying the cost of the common land and facilities, not the other things. I'll also attach the spreadsheet.

Headwaters Homeowners Budget 2022
Line Item	Actual 2021	Budget 2022
Road Maintenance	$3,611.88	$3,500.00
Chicken Coop	$0.00	$1,000.00
Electrical Upgrade	$0.00	$1,500.00
Taxes and Fees	$1,253.09	$1,125.00
Professional Services	$1,811.00	$1,500.00
Utilities	$564.00	$1,000.00
Financing/Mortgage	$3,000.00	$3,000.00
Reserve Fund	$3,000.00	$3,000.00
TOTAL	$13,239.97	$15,625.00
Condo Fees - 7 households		$186.90
8 households		$163.54
Budget Assumptions
Road Maintenance	What will snowplowing and road materials cost?
Chicken Coop	This follows Tomas's estimate for an uninsulated, pole barn coop
Electrical Upgrade	The infrastructure circle talked about meters and solar power, this is placeholder.
Taxes and fees	This includes taxes on the common land and an annual fee of $250 to the Secretary of State, which is split with Headwaters Corp.
Professional Services	This will certainly go up in 2022 to account for the new DBA. Headwaters Corp will pay for part of it.
Utilities	Meters installed may show that there are more electrical costs than we are paying now.
Financing	This represents the proportion of the mortgage on the common land and facilities.
Reserve Fund	For emergencies and capital expenses (like a solar power investment for the greenhouse) that can be paid off in several years.
Condo Fees	This represents what it would cost if we split it 7 or 8 ways.

LOVE TO YOU

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__________________________________

Gwendolyn Hallsmith

gwe...@gmail.com

802-851-7697

[oliver welters]

Thank you Gwen, that was helpful.  Merry Christmas.  ❤

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[Luigi Morelli]

Tuesday will work for me,

most likely in person, if not on Zoom 

Luigi

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From: head...@googlegroups.com <head...@googlegroups.com> on behalf of oliver welters <oliver....@gmail.com>
Sent: Thursday, December 23, 2021 6:26 PM
To: Gwendolyn Hallsmith <gwe...@gmail.com>
Cc: headwater <head...@googlegroups.com>
Subject: Re: Tuesday Meeting at 6:30 on Zoom?

 

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[Tomas Vondra]

Tuesday works for me too.

 

Tomas

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[Tomas Vondra]

Hi Gwen,

 

I quickly sifted through the paperwork and there has been mistake made in the house appraisal. It states that its on public sewer and electricity, which is probably not the case. Could it be fixed as the appraiser is still working on the #3house site?

 

I’ll try to go over the book keeping before Tuesday, the bank statements are helpful. Would you have expense records available? (Checks, invoices?)

Even if it is a pile of receipts in a drawer, I could help sorting it out.

 

Cynthia and Luigi, would you know the date you started to pay the condo fees and dates + amounts you paid for your home sites?

 

Thanks

Tomas

 

 

 

From: head...@googlegroups.com <head...@googlegroups.com> On Behalf Of Gwendolyn Hallsmith
Sent: Thursday, December 23, 2021 21:13
To: headwater <head...@googlegroups.com>
Subject: Tuesday Meeting at 6:30 on Zoom?

 

Hi all -

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[Gwendolyn Hallsmith]

Hi Tomas - 

I don't know how "big" an error that is from the point of view of the value of the property, but I will mention the mistake to the appraiser. We are connected to the grid through Oliver's house, so we are not completely "off the grid" and the fact that we have a septic system (with potential future access to a sewer system) will not affect the value.

I am compiling the rest of the paperwork to transfer the property, it will be ready by the time the sale is made. For now, this is the limit of information I am willing to share before there is an offer on the table. I do not need help going through drawers, thanks. But if you really want to help, you could dig up all the invoices you have sent me over the years. You are probably the person here who has been paid the most for Headwaters construction and repair. So your invoices, plus Oliver's invoices, would cover probably 90% of the work that's been done.

Merry Christmas!

Gwen

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[oliver welters]

Hi Gwen,

I hope you had a restful Christmas. I just wanted to make clear a few things in case there was confusion. The cable running from my house to your house was put in a while back when Tomas and Tara lived in the tiny house. That was a good will gesture and an easy favor for me to do at the time. It was never a permanent solution and I was never asked if it potentially could be. When it got "upgraded" recently i was told it was because it was unsafe which it was. So it was made safe like it really should have been the first time but wasn't possible because it went up in the winter. I am happy to of course keep the cable intact until you move. But I just wanted to make it clear that I will disconnect the cable to your house and potentially the Earthship as well once you move. I have no desire for more complications and just want it gone at this point and need the electricity for the shop like originally planned. 

Thanks, be well. 

Oliver 

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[Gwendolyn Hallsmith]

Hi Oliver - 

Thanks for the note. I hope you and your family had a nice holiday, too.

Since you're talking about a fairly significant change to our infrastructure here, I think it's fair to say that you and I have a conflict about this. We are leaving to go celebrate Michael's father's 96th birthday tomorrow, but you and I should schedule a conflict resolution meeting next week. Please let me know when you're available.

Thanks, Gwen