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Senior Cooperative Housing
The following links can be used to find out more about the phenomenon of Cooperative living.
Senior Housing Directory (www.seniorhousinginc.org)
Publication that helps older adults and their families with information about Market Rate Rentals, Condominiums, Cooperative, Subsidized Housing, Public Housing, Assisted Living and Memory Care.
Cooperative Listing Service (www.coopliving.coop)
For sellers and buyers of coopertive properties - listings with information and details about cooperative real estate. From the site:
A housing cooperative forms when people come together to own and control the building they live in. Residents form a cooperative corporation, paying a monthly amount to cover operating expenses. The cooperative owns the land, the buildings, and any common areas. Members buy shares in the cooperative.
A housing cooperative is a legal corporation. Members of the cooperative live in the cooperative and run the cooperative—from organizing social activities, to sitting on committees, to maintenance, to handling finances, and doing the landscaping. Members set the bylaws and elect a board of directors from among resident-members. The board ensures that the cooperative is run in accordance with the cooperative’s bylaws and operating agreements. The board organizes a membership meeting at least annually, and arranges for staff to run the day-to-day business of the cooperative. (See full article here)
Minnesota Association of Cooperatives (www.wfcmac.coop)
A comprehensive site featuring legislation, regulation, news, political action, education and events that affect and impact cooperatives in Minnesota and Wisconsin.
Senior Cooperative Foundation (www.seniorcoops.org)
The Senior Cooperative Foundation supports development of and best practices for senior housing cooperatives with a variety of services, education, and operating programs. Their programs are available to resident-members and to new sponsor-developers who are committed to full resident ownership and control.
Their commitment to cooperatives stems from a strong belief in and witness, for over 30 years, to the redemptive power of these communities. They believe cooperatives to be unique in creating affordable, enlivened, independent and interdependent environments that preserve financial resources and enhance the aging process.