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PuRnian <br />w ce <br />A 55+Cooperative Community <br />17155 Quincy Street. N.W. <br />Elk River, MN 55330 <br />763-633-0999 <br />Value (this is not the share cost), the Proportionate Factor of Unit Valuation to Total <br />Valuation which is the formula used to derive the initial share costs of each dwelling <br />unit, the Required Total Cash Down Payment (this is the share cost price that initial <br />members paid for their share in the membership interest in the Cooperative), and then <br />the initial monthly fee. <br />can provide you with a history of how the Annual Compounded Interest has accrued <br />over time at a steady rate of 1 % as pursuant to our Bylaws. The third document I <br />provided you is a Request to Make Upgrades and Improvements within a Dwelling <br />Unit. This. document states that any changes to a unit that are permanent, become the <br />property of the cooperative and stay when a member leaves. It also states that any <br />upgrades or improvements will not increase the Membership Transfer Value of the <br />Membership in the Cooperative under the Cooperative's limited equity formula. <br />The reason this information is relevant is to show you that the rate at which Pullman's <br />property taxes are increasing, far outpaces what a share at the cooperative is actually <br />worth. Our values do not fluctuate like homes in an open market, Pullman is constant at <br />1 % equity increase per year. Property taxes are taking up a significant portion of the <br />annual budget. As you can see in the attached spreadsheet titled, "Pullman Place <br />Property Tax Comparison 2015-2021 ", we have seen nearly a 70% increase in Property <br />Tax since 2015. This is the fourth document I have included. <br />Respectfully, <br />ehel(&gga-er.org <br />Property Manager <br />763-633-0999 <br />cc: Judy King, Board President <br />Pat Hendrickson, Vice President <br />Larry Toth 2nd Vice President <br />Don Arndt, Secretary <br />Bob Jones, Treasurer <br />Managed by Guardian Angels Senior Services <br />�{�� Epµa xousfxu <br />1 avromoxi*r <br />