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==Retreats and Therapy==
==Retreats and Therapy==
==Products==
==Products==
=Private to Cooperative Ownership=
LaLa Gardens is transferring property ownership to a cooperative with its own community currency/token, but first it needs to be saved from foreclosure in Sept 2022. See the key steps below.
==Current Steps==
===Step 1: Save the property from foreclosure===
* This step is being publicly discussed in the [https://discord.gg/n49BAnkBn8 LaLa Gardens Cooperative Discord] in the #1-save-the-property channel.
* [http://regenlive.org Regenerative Living Institute], its founders [[#LeahGibbons|Leah Gibbons]] and Brandon Yarborough, or a trusted third party will secure a 'hard loan'to purchase current owner [[#ChristinaTrout|Christina Trout's]] property and prevent it from being lost to the banks in foreclosure in July, 2022.
* This includes an agreement to purchase to transfer ownership to a cooperative that will purchase the property at wholesale value from Tina, as well as a long-term lease for her and her mom.
* Current status: Tina and Brandon are securing the details of the foreclosure status. Leah is checking on her mortgage qualifications as the interim owner. [[#LettyPrados|Letty]] is developing the ownership transfer agreements.
* June 25, 2022: [https://docs.google.com/document/d/1VDX7_w5bP6nn-m_UhbMvVZK_t33uNu-ZVm-8Ewuc9mY Covenant signed by Christina Trout to sell property to LaLa Gardens Cooperative].
* June 28, 2022: [[#LeahGibbons|Leah Gibbons]] agrees to personal conventional loan of $450,000 to save the property.
* August 4, 2022: [https://www.itsallmadeup.org/dccontainer-burningman Investment], [https://lalagardens.coop/owners ownership], [https://lalagardens.coop/members membership] and [https://lalagardens.coop/residents residency] opened to the general public, with an immediate goal of raising $50,000 for the down payment of a personal loan.
===Step 2: Transition to cooperative ownership===
* See [https://miro.com/app/board/uXjVO0YQNWc=/ Private to Cooperative Ownership Blueprint on Miro]
* The newly restructured LaLa Gardens Cooperative, LCA (Limited Cooperative Association) will begin a cooperative structuring process with [[Regen Living Ecosystem|Regen Living DHO]] to transition LaLa Gardens from private to community ownership.
* [[Regen Living Ecosystem|Regen Living DHO]] is a collective impact initiative to develop and fund ecosystem prototypes and place-based pilot projects that set the bar significantly higher for what regenerative development is.
* The objective is for LaLa Gardens Cooperative to become a model blueprint for developing a catalytic regenerative community-ownership project, aka [[Catalyst hub|catalyst hub]].
* June 16, 2022: [[#LettyPrados|Letty]] provides the following documents:
** [https://docs.google.com/document/d/1Qk5ZcG0BuqIYaYTiinSczJrnYM_rJu0lvHFku1CN_tI/ Transfer of ownership agreement] - Needs editing
** [https://docs.google.com/document/d/1rCziJ-UZsrovNp1OQYzq6iBb0EnPEVnzDmXSzJ0Vjb0/edit LCA (Limited Cooperative Association) filing] - Articles of Organization, Colorado, USA
* June 28, 2022: [https://drive.google.com/file/d/1NVZ6BP0gZveFk_4bMens9HJKTnJRd1u5/view?usp=sharing LCA is filed] with the State of Colorado.
** Aryabhatta contributes $1000 towards first steward ownership.
* July 12, 2022: Christina Trout, Leah Gibbons, Neil Takemoto are elected as interim board directors of the cooperative by the Articles of Organization signators.
* July 19, 2022: [https://drive.google.com/file/d/1sE4GzVrQBYLjZbgPe1Ub8NBqZ3PHNw2v/ Bylaws signed]
==Future Steps==
===Step 3: Cooperative Governance===
* LaLa Gardens Cooperative + LaLa DAO
** Colorado Uniform Limited Cooperative Association: governs and holds the DAO
** Multi-stakeholder DAO
* Token: LaLa Coin - pegged to the Garden regenerative value, determined by different roles/members/patrons within LaLa Gardens, LCA structure, both community and governance.
==The Financials==
'''Opportunity'''
* $347,490 is owed on a property valued at $700,000.
===Property value===
{| class="wikitable"
!colspan="3"|Property Value
|-
|'''Asset'''
|'''Wholesale Value'''
|'''Retail Value'''
|-
|Land and buildings
|$700,000
|$800,000+ estimated, to be appraised
|}
===Property debt===
{| class="wikitable"
!colspan="2"|Property Debt
|-
|Mortgage balance
|$251,000
|-
|Solar array balance
|$98,000
|-
|Total
|$349,000
|}
Tina added $80,000 in tenant improvements since 2004, which has added to the total property value of property.
===Foreclosure prevention===
{| class="wikitable"
!colspan="3"|Foreclosure Prevention Status
|-
|'''Creditor/Bank'''
|'''Balance'''
|'''Payments due'''
|-
|Shellpoint (primary mortgage)
|$214,470
|$56,000
|-
|Select Portfolio Servicing (secondary mortgage)
|$37,020
|$3000
|-
|Asset Recovery Solutions (solar loan)
|$98,000
|$98,000
|-
|IRS tax lien
|
|$12,000
|-
|Total
|$349,490
|$169,000
|}
===Property revenue===
{| class="wikitable"
!colspan="6"|Property Revenue
|-
|'''Current monthly rent'''
|'''Rent w/ $100K improvements'''
|'''Education + Demonstration'''
|'''Retreats + Therapy'''
|'''Farm Products'''
|'''NFT program'''
|-
|$0
|$0
|$0
|$0
|$0
|$0
|}
'''History:'''
* Original purchase in 2004: $250,000


=Regenerative Finance=
=Regenerative Finance=

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