The Peissnitzhaus – Renovation with community shares

The Peissnitzhaus, a historical building in Halle/Saale was abandoned between 1990 and 2013 when 17 people founded the NGO “Peißnitzhaus e.V.” The members renovated the building and founded the “Peißnitzhaus Förderkreis gemeinnützige eG” – a charitable cooperative – that offers shares of 1.000€ to support the renovation (by means of equity-ratio) and the takeover of ownership from the city. A charitable cooperative is not allowed to pay interest to its shareholders, but the it is allowed to give immaterial values worth up to 40 € (4%) to each member. The cooperative guarantees return through the payment of interest rates in the form of culture.