The project will be funded by the social economy, ethical banks and voluntary contributions made by groups and individuals.
The budget for building La Borda adds up to EUR 2.7 million. This budget takes into account all necessary investments to carry out the project: from the construction of the building until residents can move in, to the liquid assets that the whole operation will need. The funding of the project will come mainly from the inhabitants financial contributions, voluntary contributions made by collaborating members, and the financial support of ethic and social funding institutions.
Funds are distributed as follows:
(updated the 4th of July of 2018)
The cooperative’s solvency is based on the monthly fees associated to the use of the apartments. Monthly fees will allow the cooperative to make effective its financial obligations. As well, La Borda will generate extra income by renting the commercial premises at ground floor facing the street. All this will balance the results of the cooperative and generate collective savings. It will make possible to replicate the model and its expansion along the territory and the time. As a non-profit cooperative committed to social impact, we have to use the total amount of surplus to promote the access to decent, efficient and affordable housing, through the housing cooperative model of grant of use.
Agreement with Coop57
La Borda is part of the cooperative of financial services Coop57, with whom we signed a loan and we collaborate with the participatory titles issuance.
Collaboration with La Dinamo
La Borda signed a participatory loan with La Dinamo, foundation to support the right of use cooperative housing model.