1. Identify targeted project (City & State located).
2. Secure political support from Mayor (and/or) other appropriate public official(s) to:
- Dispose of local “Hot Spot.”
- Improve quality of housing for tenants.
- Create more contributors to local economy.
- Identify new community leaders.
- Create more positive options for youth.
3. Contact Owners -Make presentation, Get support.
- Relate tenant organization to “Team Play.”
- Provide investor/guarantee of the mortgage.
- Charge all costs to current tax forgiveness.
- Charge off appropriate contributions to CCH the designated 501c(3) non-profit.
4. Co-op Organizer (CCH) will structure and coordinate all elements, including creation of all legal documents, required to establish and operate a Tenant owned 501c(3) non-profit co-operative program.
5. Each unit in the complex will be assigned a Membership which will entitle the holder to cast one vote on any matter that comes before the Membership for decision.
6. This program is designed to stabilize affordable multi-family housing communities. It will also provide meaningful employment options to former athletes; and a return on investment to Team Owners who choose to participate and profit from an investment in Life after Team Sports.
WHO WILL BENEFITS
i. Banks and other Financial Facilities when they provide quality loans, appropriately secured by properly structured cooperatives.
ii. Investors who provide “guarantees of performance” to mortgage holders when they support mortgages assumed by the non-profit.
iii. Members of the cooperative corporation receive maximum benefit for their housing dollar investment.
iv. Neighborhoods are revitalized and communities are stabilized by the increase in people (resident) interest and participation.
v. Where subsidies are provided, government can easily justify and verify the long-term value of “short term” public investment and support of targeted co-op communities.
vi. Members will organize training and other support programs to improve conditions and opportunities to help themselves, their neighbors and surrounding community.
