We have 7 signups for the above so far, and that's enough to kick-off the project. The landowner has agreed, and the legal verification is underway.
However, this is not enough to go through completely with the self-funded model, and an alternative has emerged such that all willing to participate in the self-funded model continue to benefit from the prices worked out, and the developer, who will work out a funding/model for the rest will be free to price the rest to recover the costs of the additional funds and effort, plus margins. Of course, given that at the moment its a good 15% lower than market pricing will help ensure its probably still attractive, but we will not be managing that aspect beyond the first set of people.
We will continue to influence the design, features and philosophy for the project.
There was a call to meet the builder this Friday - but I'd like to give time to any other people who want to participate in this as part of the first group - so pushing that meeting out to sometime during the coming week.
The meeting will be to:
a) get an initial EoI in terms of a cheque and firm up the numbers of the seed group
b) get all your queries answered (financing, legal, model, etc)
c) draw up the list of "requirements" the initial group wants the builder to adhere to
The initial fund expectation from the early group will be in region of 15L over a few months.
Given the change in the model, the project will be branded under as a RareEarth project, and all subsequent interactions beyond this first group will be with RareEarth directly.
If you're interested, and would rather get it done cheaper, drop me a mail at getDOHTsameerAHTgmail