A housing cooperative is formed when individuals or families join with each other to form a corporation to gain control or ownership of the building or buildings in which they live.
One major attraction for potential co-op members is -the economic benefit of making a small equity investment to purchase a share in the ownership of the corporation, which is returned to them, with appreciation, when the cooperator moves out.Learn More...
James N Dancy who is known as Jim, under six feet tall but his footprints can be found in affordable housing projects all over the country. Jim Dancy, the 501©(3) non-profit Center for Cooperative Housing, and other associated developers of affordable shelter for families of modest income have organized more than fifty thousand units of multi-family housing in targeted cities that you can name.
When James Dancy left his job as a popular radio personality with KPRS in Kansas City, Learn More...
For more than fifty years, James N. Dancy, with the capable assistance of his wife, Barbara, has been involved in the development, organization and management of housing cooperatives for families and persons of modest income primarily in the Midwest and Eastern parts of the country including several large HUD Distressed, Foreclosed and/or Secretary Held multifamily projects in Ohio, Pennsylvania, New Jersey, New York, Connecticut, Rhode Island and Mass.
The hands-on supervision of his related corporate housing stock has annually exceeded 3500 units including: cooperative, elderly and other affordable rental housing. Some distressed, inner-city projects have had various interesting and challenging Learn More...
Worked as well or as badly as any or most of the Federal, State, City or Town Elections. The opportunity to get involved, to learn and grow is open and available to any and every Member of the cooperative.
The cost of Membership is affordable in the community. Payments of investment profits to a Landlord are eliminated. Monthly charges are routinely less than rent. No additional investment in required.
The value of a Membership is computed Annually based upon the formula established by each independent co-op. Some portion of the value of a specific Membership may be accessed by a Member under specific conditions approved by the Board; or, paid in full at current value when a Member terminates their occupancy.
We are aware of no comparable activity or initiative that allows a family of modest income to have their cake and eat it too. Co-op housing checks and rejects poverty at the door. We strongly recommend this most important weapon in the “War against Poverty.”
To convert an existing multi-family housing facility to co-operative ownership. This is what we need to help you :
This Conversion Guide is based on the normal HUD 213 Market Rate housing program; but, is also consistent with the requirements of most Banks and/or other Financing Facilities.
