8.02.01 – SELECTION OF A PROPERTY
The selection of a property for purchase can come from one of three places. It could be a grassroots effort, including people from one or more Houses that have a property in mind. It could come from one of the Standing Committees. It could also come from an ad-hoc expansion committee, headed by the Executive Vice President.
8.02.02 – APPROVAL OF PHYSICAL DEVELOPMENT COMMITTEE
After a property is selected several steps must be met before it can be recommended to the Board for purchase:
8.02.03 – RECOMMENDATION OF A PROPERTY FOR PURCHASE
In order to begin financial negotiations with the seller a House must be recommended to the Board by the sponsoring committee.
8.02.04 – CONTINGENCIES OF A PURCHASE
After successful negotiations, the purchase of the House must be made contingent upon a majority approval of the whole membership via a referendum.
8.02.05 – RENOVATIONS
The Maintenance Coordinator will supervise the subcontracting of labor during renovations. It is recommended that professional contractors do most of the labor. The budget for renovations should be 25% over the estimate, to be prepared for unforeseen problems. Ultimately, the Maintenance Coordinator will be asked to take responsibility for the management of the project, and to set a timetable for its completion. In any event, no one will be allowed to reside in the House until the renovations are complete.
8.02.06 – OPENING OF A NEW PROPERTY
The opening of the new co-op cannot happen until the following conditions are met:
8.02.07 – FOLLOW UP
At the first meeting of each semester in the first two years, a presentation shall be made by the Board representative and the House Facilitator or President about the progress at the House. This is to ensure that close attention gets paid to new properties.
8.02.08 – NEW HOUSE PROVISIONS