I have been reading up of real estate lately and came across something I hadn't heard of before. Everyone knows the different in owning a home, condo, or renting an apartment, but there are other options that are less known. Here's one I came across that may work well for the initial setup in Atlas, or even the discussed research facility if there are extra rooms.
Cooperative ownership:
Benefits to Corporation & Non-profit Owners
A corporation owns title to land and the buildings, and offers shares of stock to prospective tenants. The price for the apartment becomes the price of the stock and purchaser becomes “shareholder” in the corporation. They receive a proprietary lease, but do not own the real estate (land or building). They can then sell their share when they move, just as you would selling actual owned real estate. By-laws may require you sell the shares back to the corporation only, or that a new buyer must be authorized first (as the new buyer will be living in this cooperative community). The sales price usually remains the same as the buying price. There is no market increase as a home may have (and no decrease as well), and it is better then renting which is only a fiscal loss.
Benefit to Shareholder
As shareholders, they have some control over the corporation (the property and it's operations). They have a vote in the election of officers and directors and have direct say in aspects controlling the property in which they live. Lending institutions see a tenant-owner, as opposed to a tenant renting space, as financially viable and stock shares may be used by tenant-owner as collateral for financing (if by-laws allow). The IRS sees cooperatives as it does single family or condominium residents which allows for “deductibility of loan interest, property taxes, and homesellers' tax exclusions” (though I'm not really sure what exactly that means). Maintenance is also done by the corporation, freeing up the tenant-owner from this responsibility.
Conclusion
It can be adapted to fit nearly any accommodations, and can actually work as a temporary source of income for the corporation. Though the sales price is generally the same reaching a net even amount, the funds received by the corp by tenant-owners is usable (similar to a band using our checking and savings accounts). There are also other tax exemptions that can be looked into by the corp if there is an educational facility, medical facility, or does charitable work.
Since the entire land area (residential, education, healthcare) is all owned by the corporation (a single legal entity) it can not be split up to tax parts and not others. It's an all or nothing proposition.
