Island Cohousing, LLC
Operating Agreement

Exhibit B
Membership Policy

1. Definitions

   Individual Members

   An Individual Member is any individual who signs this Operating Agreement, and their successors in interest, ("Individual Member") as the sole member of a Member Household or as one of several Individual Members in a Member Household.

   Member Households

   Each Individual Member shall belong to a household (Member Household) consisting of one or more individuals who plan to live in the same housing unit. Each Member Household shall consist of at least one Individual Member. Member Households may increase their size by including additional individuals at any time. Member Households shall participate in the activities and the governance of the Community as set forth herein. Each Individual Member shall cause his or her Member Household to participate in the activities of the Community and to attend Community meetings.

   Community

   All Member Households and Individual Members combined.

   Contributions

   Contributions made by Member Households to the capital of the Community (herein "Contributions"). (See Operating Agreement Article 5 Capital Accounts and Contributions.)

2. Policy on Non-Discrimination

   Island Cohousing, LLC has a policy of non-discrimination and certifies that no person shall be discriminated against in application to, or participation in, ICoho on the basis of race, national or ethnic origin, religion, age, gender, sexual orientation, or disability, but reserves the right to choose its membership.

   (Note: the intent of this language is to allow ICoho discretion in choosing its membership.)

3. Membership Categories

   There shall be two (2) categories or levels of membership:

   1. Member Household
   2. Prospective Household
4. Membership Responsibilities and Obligations
   1. Member Household
      1. Financial and Legal Obligations

         Member Households must complete the following three (3) steps:

         • Pay all non-refundable Assessments as determined by the Finance Committee to cover such things as mailings, Xeroxing, baby sitting, etc.
         • Pay the Household's Contributions, unless exemption is made as provided in Exhibit B Section 5. (See Operating Agreement Article 5 Capital Accounts and Contributions and Section 2.11 for Capital Account Contribution refund.)
         • Member Households must sign the Operating Agreement.
      2. Community Service Obligations

         Member Households shall participate in all activities and decision-making, including at least the following:

         • Join One Committee - committee membership is based on your concerns and commitment to specific issues. Committees meet one to two times a month depending on the work at hand. Individual members may work on specific projects, in agreement with their committee.
         • Attend Community Meetings or provide alternative service as determined by the Community.
      3. Changes in Member Household
         • Any Household may enlarge their Household by marriage, family, unrelated partnership, and children.
         • Likewise, any Member Household may reduce their Household so long as the remaining members are signatories to the Operating Agreement and have the financial capability to assume responsibility for Captial Account Contribution payments and all accrued and future debts.
      4. Individual Members

         Individual Member rights and obligations follow the signing of the Operating Agreement. (See Operating Agreement Article 2, 5, 6 and 7)

      5. Prospective Households

         Prospective Households are newcomers exploring the idea of cohousing and the possibility of becoming a Member Household of Island Cohousing, LLC.

         • The Membership Committee, in collaboration with other committees as needed, will provide orientation materials to newcomers, and invite them to an Orientation Meeting and a Community Meeting.
         • Newcomers may then decide to become Prospective Households by paying a non-refundable $40.00 deposit. They may then attend additional Community and committee meetings. Prospective Households may participate in discussions but may not block consensus as described in Exhibit C - Consensus Policy Section 5.
         • Prospective Households will be assigned a "neighbor" to guide and assist them.
         • Prospective Households shall complete the member criteria including:
           1. submit household financial profile to the Finance Committee;
           2. demonstrate financial capability to purchase a home or demonstrate low income qualifications;
           3. read, understand and agree to abide by all previous decisions, policies, and principles of ICoho.
         • Prospective Households may then apply for membership through the Membership Committee following the process described in Exhibit B—Membership Policy Section 6 below.
         • Exemptions

           By consensus of the Community and as determined by the Community any Member Household may be exempted either temporarily or permanently, partially or completely from Captial Account Contributions, Assessments, and/or, Community Service. (See Operating Agreement Article 5.2.)

           Member Households may request exemptions from Captial Account Contributions, Assessments and/or community service. Member Households shall apply in writing to the Finance Committee for exemptions from either Captial Account Contributions or Assessments. Member Households shall apply in writing to the Membership Committee for community service exemptions. These committees will evaluate applications for exemptions on a case-by-case basis and make recommendations to the Community. Any and all exemptions shall be decided by consensus of the Community according to Operating Agreement Article 2.7.

         • Application for Member Households status
         • Application
         • Prospective Households may apply for membership through the Membership Committee The Membership Committee and all other relevant committees will provide assistance and information to Prospective Households as needed throughout the membership process.
         • After careful consideration of Island Cohousing, LLC's membership criteria and priorities the Membership Committee will make one of three following recommendations to the Community:
         • Accept
         • Decline
         • Wait List
         • Priorities will be weighted according to the Community's financial needs and will be periodically reviewed
         • Prospective Households may be qualified as Member Households only by consensus of the Community according to the terms set forth in the Operating Agreement Article 24.
         • Acceptance

           Upon acceptance Households, shall:

         • pay all current Assessments as determined by the Finance Committee,
         • pay the current Captial Account Contributions within six (6) weeks of acceptance,
         • upon payment of the Captial Account Contributions sign the Island Cohousing, LLC Operating Agreement.
         • Wait List

           As is necessary a Wait List for Prospective Households will be established and maintained by the Membership Committee. Prospective Households placed on the Wait List are required to pay a fully refundable $1,000.00 deposit. Said deposit is to be held in escrow until the Prospective Household is qualified as a Member Household or upon withdrawal from the Island Cohousing, LLC Wait List.

         • Wait List Withdrawal

           Prospective Household may withdraw from ICoho's wait list at any time by giving notice in writing to the clerk.

         • Wait List Deposit Refund

           Upon receipt of notice of withdrawal from a Prospective Household ICoho will return within 5 business days the Prospective Household's Wait List Deposit.

         • Expulsion of Households

           Any Household may be expelled from Island Cohousing, LLC according to the terms set forth in the Operating Agreement Article 2.6.

         • Household Withdrawal and Household Replacement
         • Household Withdrawal

           Any Household may withdraw at any time from Island Cohousing, LLC by notice in writing to the Clerk. Upon withdrawal, the signatories of the Household shall remain liable for the Captial Account Contributions assessed and all accrued debts as of the time the Clerk receives written notice of the withdrawal. Contributions to Island Cohousing, LLC shall be returned as specified in the Operating Agreement, Article 2.11.

         • Household Replacement

           Replacements will first be drawn from the Households on the Wait List which will be established and maintained by the Membership Committee. The right to purchase will be offered to households according to priorities recommended by the Membership Committee and approved by consensus of the Community. Priorities will be weighted according to seniority and the Community's financial needs and will be periodically reviewed. If selection from the Wait List does not produce a replacement household, other methods will be utilized with consent of the Community.

         • Transfer of Interest

           Refer to the Operating Agreement Article 7.

         • Unit and Site Selection Policy
         • Unit and Site Selection Method (First Effort)

           Island Cohousing, LLC will devise a method of site and unit selection that does not employ either a system based on seniority of membership or a system based on any type of lottery. This system will be similiar to the method used at Pioneer Valley.

         • Unit and Site Selection Fallback System

           If the Community is unable to reach consensus about unit and site selection using the method described in Section 10.1. above, ICoho will use one of the following unit and site selection methods as to be determined by the Community. The Community, at the time it invokes the Fallback Systems, shall decide if all Member Households will participate in the Fallback Site Selection System or, if only those Member Households, unsatisfied by the results of the First Effort, will participate in the Fallback Site Selection System.

         • Seniority System

           The Membership Committee will establish and maintain a numerical list of Member Households. Numbers will be assigned consecutively to Member Households based upon the date of signing the Island Cohousing, LLC Operating Agreement. Core Member Households (those households pre-existing the formation of Island Cohousing, LLC and signatories to the Island Cohousing Temporary Agreement) will be assigned numbers based upon the date the Household contributed the full amount of three thousand dollars ($3,000.00).

         • Lottery System

           All unit and site selections will be done by a lottery of all current Member Households.

         • Membership Policy Amendment and Modification

           This policy statement may be amended and/or modified by consensus decision of the Community.