Market analysis, project feasibility, and organizational analysis are all available in the pre-development stages of a project. NASCO Development Services will tailor all analyses to the specifics of a cooperative project and will take into account the peculiarities of the various types of student or non-student markets within a campus environment. NASCO will make recommendations on the best type of project to pursue, helping the organization to choose new construction or property purchase.
NASCO Development will review potential property information, and inspect properties if desired. NASCO Development will prepare income/expense proformas for properties under consideration, and make recommendations on cost and purchase options. It can also undertake all negotiations for the property purchase.
For new construction projects, NASCO Development Services will work with the cooperative, its architects, and other involved parties to develop an economic building design that enhances the social structure of the cooperative.
NASCO Development Services can assist groups in obtaining financing through the loan funds, credit unions, or through specialized funding sources such as the Department of Education. NASCO Development Services will research financing options and recommend the optimal package for the organization's needs. It will prepare applications for financing, including producing all financial projections necessary for the funding requests.
Drawing on successful examples of co-ops that exist in buildings owned by others, NASCO Development Services can help design fair agreements. These projects include buildings operated by a co-op corporation and owned by a university or private investor. These can be structured as management contracts, where the owner hires the co-op's managing agent, rental agreements, where the co-op rents the space for its operations, or as master leases where the co-op has a lease with most management responsibilities.
Operational Systems Design
Research has found in the world of group-equity cooperatives proven systems for areas such as maintenance funding, finances, board structures, etc. which NASCO Development will tailor to the specific needs of a development project.
Start-Up Coordination: Through initial trainings for boards and members of new cooperatives NASCO Development will help projects to begin as self-sustaining groups. NASCO Development will supervise a minimum of one live-in intern per project who will receive minimal compensation for acting as an on-site resource for the first few months of a project. An intern will typically be a student, active and successful in the operations of an established co-op group.