|
The Essence of Eden
| |||
|
|
|
|
|
| Legal
We imagine a Non-Profit Non-Deductible Corporation [NPND], as a Private Land Trust [PLT], to pay for, insure, maintain and hold the property, and any others that might come under it's [our] control, to provide stewardship and care of the land for eternity [through the generations.]. However, to begin, we envision using an LLC to purchase and hold the property, and for other beginning operations. After property is purchased, it will be turned over to [donated] the Private Land Trust. The Community, and other General Operations, Businesses, and Organizations, will lease back property needs from the PLT. There will be a process for people wishing to become Community/Village Members. The Community, as a Group In Common, or a Co-operative, is the LLC. The NPND Corporation collects any dues and income for and to the community, and pays out any expenses, like amounts due to utility companies, food & other materials/expenses, etc... Other portions of the community may also be set up separately, as non-profits, such as our educational and healing center [possibly a Non-Profit 501(c)3], or for-profit organizations and businesses where best served. The Main LLC may hold businesses as DBA's as needed. *We may set up, by Agreement, an avenue to collect funds for the purposes of raising capital to create the above legal structures, bank accounts that will be opened upon completion of said structures, pay permits, registration fees, attorney fees [real estate & general], cpa fees, paperwork services, option fees, appraisals, advertising - where needed, place deposits or down payments on property, closing costs, and other community only related expenses. Full Members of the community would hold "In Common", the community & the property. through the Private Land Trust, with select Full or Other Members as Trustees for same. All proceeds collected in this manner, through this vehicle would roll over to the operating accounts of said structures once created. *Actual legal vehicles used, and in what order, according to what it will do will for each aspect of the Community will be dependent on final consulting with attorneys during process. Operating Agreements are being drafted for all aspects of the community, and will be found elsewhere, and included in the legal set up process.
*currently reviewing best legal structures. |
| ||
