Boomers collaborative jan 2017 (update event)

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Boomers Collaborative A residential retirement cooperative and small business incubator

Transcript of Boomers collaborative jan 2017 (update event)

Page 1: Boomers collaborative jan 2017 (update event)

Boomers CollaborativeA residential retirement cooperative and small business incubator

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Board Members & Advisory Committee

Board Members

Carol Lilly, ChairJohn Vinson, Vice-ChairSusanna Finnell, Vice-

Chair & TreasurerKaren Meschke, Secretary

Advisory Committee Members

Brian Donovan, The Cooperation Group

Susanna Finnell, Boomers Collaborative

Hannah Frankel, La Reunion Cooperative Apartments

Kim Garmony, College HousesCarol Lilly, Boomers CollaborativeKaren Meschke, Boomers

CollaborativeRyan Nill, La Reunion Cooperative

ApartmentsBarry Silverberg, Center for

Nonprofit StudiesJohn Vinson, Attorney & Boomers

Collaborative

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The Needs

To meet retirement or near retirement needs, many baby boomers want … Affordable and sustainable housing Greater economic security through small and part-

time entrepreneurial pursuits Communal supportWithout these, many Baby Boomers (especially elder orphans) suffer insecurity and isolation, conditions that lead to adverse effects on overall health and well-being.

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The Drivers

As a group, Baby Boomers have been greatly affected by Globalization The Technology Revolution The recent Great RecessionBaby Boomers who have been unable to find a way back into meaningful employment are turning to entrepreneurship, adding their names to years’-long wait lists for affordable housing.

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Examples of Holistic Approaches to Similar Problems

What ab0ut a new, holistic approach mimicking what is available for the more fragile among us? Think … Community First Village for the disabled and

homeless. Foundation Communities for families with children.

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Example of a Holistic Co-op

We prefer to provide for ourselves in advance through a retirement model more like the proposed Elgin Agrarian Community in Central Texas.

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Envisioning The Solution

Ours is a unique and sustainable retirement solution for one of the fastest growing demographics, many of whom must count entirely on Social Security to live in retirement. We are creating a housing development for residents 55 and older that combines residential units with a small business incubator under mixed land use, providing artisanal / maker facilities (studios) and shared office, a commercial kitchen and event space.

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Minimizing Risks

We are relying on proven strategies seamed together in a new way. Sharing our resources, we are ... Adopting a mixed-use, mixed-income approach and

participating in the City’s Affordable Housing Program for those who qualify.

Establishing and building a senior housing cooperative for Austin residents to own and manage, taking advantage of current trends in sharing common space for entrepreneurial pursuits, including event and retail / gallery supports.

Creating relationships with skilled and successful professional mentors across all our sectors to assist with operations.

Jurying all retail offerings and selling only what sells (think Artful Home for example products)

Locating our flagship facility in The Grove at Shoal Creek, a high-profile and walkable mixed-use development in a desirable neighborhood to help assure viability and success!

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The Grove at Shoal CreekRendering of The Grove at Shoal Creek by Norris Design and printed with permission of ARG Bull Creek, LTD.

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Our Vision Statement

We are Baby Boomers sharing resources to live, create, serve and inspire …

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We …

Promote the independence AND social and economic well-being of member Baby Boomers, their families and other seniors by sharing facilities and other resources.

Offer a new model for retirement living less dependent upon senior services that can be replicated all over the United States and the wider world.

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And …

Assure that members can co-live and co-work in a CO-OP tailored to local conditions and constituent needs, doing so by providing …

Sustainable mixed-use, mixed-income senior housing — outwardly focused for intergenerational and community engagement — within vibrant, urban-village settings.

A nonprofit small business incubator with office, studio and event space, commercial kitchen and retail / gallery affiliations.

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In a Nutshell …

Who wants this model? Baby boomers seeking an alternative to traditional retirement solutions, especially those who need to continue to work in retirement and find it increasingly difficult to find and keep jobs.

What makes this model unique?It provides a new kind of shared, live-work cooperative solution that appeals to a broad base of active and engaged baby boomers.

When will the project be ready?Timeline is pending.

Where will the project be located?The Flagship is planned for The Grove at Shoal Creek. Any complete community or urban village setting will be suitable for follow-on projects.

Can I live there but not work, or work and not live?Yes, we have several membership levels.

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Types of Co-Living Memberships(for Boomers COOP Residences)

A Full Membership entitles the Member to all available privileges and uses (see Co-Working section on the following slide) provided by Boomers Collaborative, including tenancy under a Housing Membership.

A Housing Membership entitles the Member to tenancy in one of the Housing Units, as well as use of the Shared common areas and amenities (including areas designated for Housing Members, only) provided by Boomers Collaborative.

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Types of Co-Working Memberships (for Boomers COOP SBI)

A Maker Membership entitles the Member to use of studio and retail space to sell goods for approved products, as well as use of shared common areas and amenities provided by Boomers Collaborative not specifically reserved for Housing Members.

A Provider Membership entitles the Member use of office space in addition to use of the shared common areas and amenities provided by Boomers Collaborative not specifically reserved for Housing Members.

An Affiliate Membership entitles the Member to sell goods via our retail / gallery affiliations for approved products.

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Organizational Structure

Boomers Collaborative Foundation

Boomers Collaborative (Nursing LLC ?)

Boomers COOP Residences /Housing Steering Committee

Boomers COOP SBI (and Mall?) /

Small Business Steering Committee

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Letters of Intent (LOIs)

LOI with the DeveloperThe Board is executing a Letter of Intent with the Developer. All member LOIs will be referenced and attached to this letter when applying for grants.LOIs for MembersUntil our group is ready to enter more formal agreements with the developer and stipulate floor plans and facility details, all interested in participating must submit the appropriate fee and sign a non-binding LOI with Boomers Collaborative. A signed LOI reserves a Membership for the applicant. (Contact Boomers Collaborative for a Letter of Intent.)

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Reservation Fees

By reserving a Membership and paying the appropriate Reservation Fee (see Membership Reservation Fee Schedule on following slide), the Member is awarded a seat on the co-op’s appropriate Steering Committee — Housing, Small Business or both. Reservation fees are fully refundable, except for a 10% non-refundable Administration Fee.

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A Note About Steering Committees

Regardless of the amount paid, all Members who have paid a Reservation Fee are entitled to a position and vote on their corresponding Co-op Steering Committee — Housing or Small Business. Full members have a seat on both committees.

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Membership Agreements

Upon execution of a Member Agreement, the Reservation Fee converts to the first Annual Membership Fee. Although other monies may be due, no additional membership fee will be collected until the anniversary date following the execution of the Member Agreement. IMPORTANT: For Full and Housing Memberships, the Member Agreement will stipulate the size of the unit and any other conditions, as well as additional monthly fees for Member’s share of insurance, taxes, maintenance and operational costs that apply to all Members, based on membership. However, subsequent Annual Membership Fee rates will likely adjust per organizational needs and per BC bylaws, once they are completed and approved.

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The Membership Process (to either or both co-ops) Express

Interest

Pay Reservation Fee to reserve place in Co-op and gain seat on Co-op Steering Committee(s)

Enter formal Membership Agreement

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Reservation Fee Schedule

Membership Type

Co-op Steering Committee

Entitlement (s)

Reservation Fee (inclusive of a non-

refundable Administration Fee of

10%)

FullBoth, Housing and Small Business $1200

Housing Housing $1000Maker Small Business $350Provider Small Business $250Affiliate Small Business $125

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Q & A Feel free to submit any additional questions /

comments to us via email to [email protected].

Find us on Facebook @BoomersCollaborative and Twitter @OhBoomer.

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Resources

“Are Boomers Headed for Retirement Disaster?” ThinkAdvisor.com. Think Advisor. 31 March 2013. Web. 1 Nov. 2014.Bradford, Chris. “The Missing Middle.” AustinContrarian.com. Austin Contrarian. Blog. 3 December, 2013.Carmody, Bill. “Why 96 Percent of Businesses Fail Within 10 Years.” Inc.com. Inc. Money. Web. 27 January 2016.Clary, Greg and Athena Jones, CNN. “Baby Boomer Divorce Rate Doubles.” CNN.com. CNN Living. Web. 27 June 2012.Hunter, Lori M. “Unmarried Baby Boomers Face Disadvantages as They Grow Older.” PRB.org. Population Reference Bureau, Article. Web Feb. 2014.Ingemunson, Eric. “Employer-Based Healthcare Hurts Older Workers.” VCStar.com. Ventura County Star, Blog. 21 June 2011. Web. 15 April 2013.McWhinnie, Eric. “3 hard retirement truths facing Baby Boomers.” USAToday.com. USA Today. 21 March, 2015. Web.. 19 July 2015.Schlueter, Nate. “Community First! Village: A Program of Mobile Loaves & Fishes.” MLF.org. Mobile Loaves & Fishes. Interview. 15 Oct. 2014.Senior Collaborative Foundation (SCF). “A Booming Trend.” SeniorCollaborativeLiving.org. Senior Collaborative Housing. Web. 2014.Stangler, Dane. “The Coming Entrepreneurship Boom.” Ewing Marion Kauffman Foundation. June 2009. Web. 12 Feb. 2014.Wagner, Eric T. “Five Reasons 8 Out Of 10 Businesses Fail.” Forbes.com. Forbes / Entrepreneurs. Web. 12 Sept. 2013.Woodruff, Mandi. “There Are Way Too Many Single Baby Boomers.” BusinessInsider.com. Business Insider. Web. 8 Feb. 2013.