Co-operative living means a family oriented neighbourhood, which promotes the growth of all members – young and old. The people who live in the Co-op are its members. From the beginning, members decide the planning and day-to-day management of the Co-op by serving on a committee with various responsibilities, such as new member selection, maintenance, and finance.
Each year members also elect from among themselves a Board of Directors to run the Co-op. Co-op members make the rules, set the policies, approve the budgets and do most of the work involved in the running and maintaining the development.
The units in the Co-op are not individually owned. The Co-op owns the buildings and property (unless the land is leased) and the members lease their units from the Co-op. Members share in the benefit of not-for-profit operations. Instead of rent, members pay a monthly housing charge that is based on the actual operating costs. Members have the right to continue to live in the Co-op for as long as they choose, providing they respect the obligations of membership.