Project Proposal and Guidelines (revised Spring 2006)
A HAPS project must meet the following conditions:
1. Have life
All projects must have life in a co-op environment. Since HAPS money is paid for over a five-year period, a project should have a life of five years. Other items shall have their “lives” determined by IRS standards for depreciation, and a house wishing to purchase any such item must pay a part of the cost directly of their house account directly proportional to the difference between the item’s life and five years (i.e. if an item has three years of life and costs $500, $300 would come out of HAPS, and $200 would come out of the house budget). If applicable, a warranty must be obtained.
2. Add value to the house
A project must add value to a property such that if the property were to be resold, the presence of the item could add to the selling price.
3. Possess more value than the cost of materials
The finished item must possess value greater than that of the cost of materials, installation, etc.
4. Has to take labor/Has to be a project
The money must be spent on a project, not an item simply added to the house. HAPS should be permanent improvements, not stereo equipment, furniture, etc. A hot tub set on a lawn or deck is not a project, but the same hot tub installed with permanent wiring, plumbing, and foundation is.
5. Must not be portable
No portable objects are acceptable, even as part of a larger project. Such items as stereos, computers, etc. must be purchased with an alternate source of funds.
1. Major kitchen appliances (refrigerators, etc.) are acceptable.
2. A project approved for BAPS but not funded is automatically eligible for HAPS funding and is not subject to the above criteria.
A house wishing to spend HAPS money must follow the following steps:
1. Vote in council to spend a certain amount on a detailed project
2. Submit a HAPS request to the maintenance coordinator3. The maintenance coordinator will make a decision if the project is an acceptable HAPs or not. The decision is appealable to the Safety and Maintenance Committee.