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Membership options

Iowa City Cohousing currently offers two types of membership: equity membership and contributing membership. The two membership types are identical in several regards:

  • All members, both equity members and contributing members, make a non-refundable payment of $1,000 when they join the community—a $100 application fee and a $900 membership fee.

*Note: If you anticipate this fee will be barrier to your involvement, talk to one of the Board of Managers about possibilities. We have a limited amount of assistance that could be provided

  • All members contribute operating funds for the project to cover expenses such as engineering studies, legal advice, consultant’s fees, application fees, and day-to-day pre-construction operating expenses.
  • The total amount of money invested per household is not expected to exceed the down payment required to reserve a housing unit.
  • All members have one vote per household in the rare instances that require a vote.
  • All members will have the opportunity to select their units in the order in which they joined the group.

How they differ

The two types of membership differ in how and when those payments are made:

Equity members

  • Equity members make their payments by responding to "cash calls." When significant funds are required, equity members are called on to divide the expense among themselves—sometimes on short notice.

Contributing members

  • Contributing members are not required to respond to "cash calls." Instead, they negotiate a payment schedule for their contributions with the Board of Managers which will allow them to budget their payments over time.

For all members, any funds invested beyond the initial application and membership fees will be applied toward the down payment of their home.

We also have investors

Investors are people who have loaned money to Iowa City Cohousing for land purchase and development expenses. Investors earn 3 percent annual return on their investments. Investors are not members of Iowa City Cohousing LLC.

Iowa City Cohousing, LLC plans to offer another opportunity for non-member investors to support the project and earn interest on their investment as we approach ground breaking and construction. If you would like to be notified of this opportunity, please contact us at iowacitycohousing@gmail.com.