Private Road Maintenance Agreement Funds

[Miranda Warner]

We purchased a multi-family property on a private road that needs to be torn out and repaved. We are drafting a road maintenance agreement, and I had a question about funds for the project. We plan to open a bank account that the neighbors can deposit funds into and was wondering if anyone has any experience or advice for how to go about the logistics of the financing. Online bank, large bank, personal account, etc.? Thanks!