Structure, Legal and Finance

Our Structure & Legal Status
Cloughjordan Co-Housing is a Registered Business Name of Mendes Company Limited by Guarantee. Mendes Limited was incorporated in 1995 as a private training and research consultancy. Between 2005 and 2012, it was a specialist training and research consultancy in passenger transport and sustainable transport. This resulted in Mendes being involved in a number of transport studies and consultancies as well as EU research and technological development projects, including the introduction of CarSharing to Ireland with the establishment of GoCar, which was subsequently moved to a separate company in 2009.

In 2012, the transport work ceased and Mendes now concentrates on sustainable development and community resilience. In 2015 Mendes (re-)registered as a Company Limited by Guarantee without shares and includes in its Articles of Association the 7 co-operative principles. It has registered Cloughjordan Co-Housing as a business name and is working on the development of a Co-Housing Scheme within the Ecovillage in Cloughjordan, Co. Tipperary.

The structure we advocate is one of no private ownership – the land and buildings will be owned by the Co-operative Company and managed by its members who are its residents. All residents will have security of tenure.
We made a successful application to the International Co-operative Alliance for the URL of www.cloughjordancohousing.coop and use of coop brand name, which denotes recognition by the ICA as a co-operative.

Finances
We are planning to develop Ireland’s first innovative rental project where the dwelling’s value is linked to average wages, so they are permanently affordable. The Cloughjordan Cohousing will own the land, dwellings and common house and rent these to the residents.
The initial revenue sources for securing the initial sites are the former shareholders of Mendes who have not been able to progress with their plans. Negotiations are currently underway with SPIL (Sustainable Projects Ireland Ltd) to acquire 4 sites on the northern edge of the Eco Village and for the owner of a 5th site to transfer to Cloughjordan Co-Housing. These 5 sites are adjacent to one another and near to the We-Create enterprise centre.
Construction costs will be met from private investors, some of whom will become long term residents and others who have expressed an interest, as well as ethical/social lending institutions such as Clann Credo and Community Finance Ireland.