New Findhorn Directions (NFD) Ltd

Hoco and the Title Holders Association (THA)


Hoco is the name given to the Park’s collective infrastructure, which consists of all the roads, paths, streetlights, sewers and drainage in the Park. The Hoco budget is an annual maintenance fund set up to pay for the upkeep and maintenance of this infrastructure. Each title holder pays an annual sum, based on the size of their property’s floor area , into this fund. The Title Holders Association (land owners in the Park) contract NFD as their factor, to manage and maintain this infrastructure using the money from this fund.

The Park’s electricity supply and infrastructure is not part of Hoco. It is a separate division, owned and run by NFD.

Frequently asked questions

Why does the THA need a factor? The Park is a private estate, which means Moray Council, Scottish Hydro Electric and Scottish Water are not responsible for the maintenance and upkeep of the infrastructure. Their responsibility starts and finishes at the main entrance.

Why don’t Moray Council, Scottish Hydro Electric and Scottish Water cover the Park?
The Park is privately owned land and is the landowner’s responsibility.

What’s the history of Hoco? Hoco was set up as a sinking fund (saving money) to pay for major infrastructure maintenance and upgrade, as and when required. As the community grew it became apparent that this annual budget was needed for day-to-day repairs and maintenance as well.

Why are NFD the THA’s factor? NFD are uniquely placed to carry out this role as they manage and operate other key services in the Park, such as electricity, water and sewage.

Since they are already managing other aspects of the site they are able to maximise the cost effectiveness of their resources, ensuring more of the title holders money goes into maintenance work. This is best illustrated in two main areas: Administration - As NFD already run and invoice for utilities, the same staff and administration are used to do Hoco paperwork. This effectively means not having to set a separate office and staff at additional costs to do so; Project costs - The same applies to project costs where machinery and equipment is utilised across all areas of work.

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