Equity Members are the owners of the intentional community. They do not have a lot of say in the management of the community unless they are serving on the Stewardship Council(the Stewardship Council does that) but they have special residency benefits, and their contributions go towards capital improvements within the community (such as the development of Cooperative Housing and the Living and Learning Center). There is a possibility of seeing a modest return on investment in appreciation of the capital contributed towards growth of the community's facilities.
Who can become an EM?: Contributing Members who have resonance with the Vision/ Mission of Atlan, may apply to become an owner investor in the community with a $___k minimum buy-in. The existing EM and SC must approve an application for it to be accepted.
Are eligible to live permanently within the Atlan Intentional community (including the right to buy memberships in Co-ops, reside on subdivided parcels or tiny home villages, or any other housing facility designated by the community for permanent residence). [Note it’s not an absolute right to get to live on the land (there might not always be enough existing facilities,) but it is the only way to be eligible to live permanently in the facilities (other than by renting for a limited number of years as a CM).
Are eligible for a modest return on their investment in the community over the long term. So as the community prospers those who contributed to building the community also prosper.
[Add a veto right for Stewardship Council nominations?]
Agree to and follow the Community Agreements and have resonance with the Vision/ Mission of Atlan.
Carry out specific decision making requirements as designated in the to be amended operating agreement (such as additions of any new EMs).
Propose participants for the Vision Council.
Payment of annual CM Contributions [or is that waived for life for EMs?]
At least one EM must serve on the Stewardship Council at all times.
$13-$60K per EM for an ownership interest in the community.
[The final number should represent the monetary value of the community divided by the optimal number of owners of the community (keeping in mind that ownership comes with the right but not the obligation to occupy a permanent residence within the community if there is one available). For example, if Atlan has a current monetary value of $3M and the optimal amount of owners is 50 then an appropriate EM Contribution to own 1/50th of the community would be $60K.
The EM contribution would go towards building the Living and Learning Center and future housing projects etc.. There is a disincentive to divest in that you can only get ¾ of what you invested back, the investment does not go up or down in value as the value of the community fluctuates, and also there is no guarantee that the community will be able to generate enough to provide a modest return on investment.
Equity Membership is a straightforward way to obtain capital in exchange for ownership of the community, it is not a way to attract “angel investors”. Any large angel type investor will have very specific requirements for protecting their investment and ensuring a return on that investment and those requirements shallshould be addressed at suchthe time that an angel investor appears, if they appear at all. If the community gets to a point where it is generating enough extra to easily compensate its investors then that might be a time when it can attract larger contributions.]
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