Housing cooperatives are defined primarily by their legal structure: coop members own the housing collectively through shares in an organisation, rather than individually, as with a condo. Residents also govern the housing democratically, either directly or through elected representatives. Not just for students, coops can be home to support groups of low-income families, artists, elderly, disabled, and people with a common purpose
This Co-operative Housing Toolbox is designed for use by housing cooperative boards of directors, resident members and co-op partners. It defines what a cooperative is, highlights the history of the cooperative movement, explains how co-ops are managed and governed, explores what co-op members can do to recognise and weed out problems early on and provides guidelines that allow the best elements of cooperative living to take root and grow.
Government and non-profit organizations in America have developed a variety of strategies to preserve housing affordability for those most affected by gentrification and revive distressed communities. There are very good examples of available tax breaks for … Read More