Learn More About Membership and the Application Process
In order for you better understand what it means to be part of a Co-op, please take the time to read the following information before submitting your application so that you can make a more informed decision as to whether or not Co-op living is a suitable lifestyle for your family.
About Co-operative Living
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 running and maintaining the development.
The units in the Co-op are not individually owned. The Co-op owns the buildings and property and the members lease their units form 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.
Information for Applicants
|Size||Square Footage||Housing Charge (includes $11 Sector Levy)||Share Purchase|
|21- 2 Bedroom Units||1088||$1113.00||$2230.00|
|20 – 3 Bedroom Units||1269||$1204.00||$2410.00|
|8 – 4 Bedroom Units||1422||$1319.00||$2640.00|
Minimum Income Requirements are as follows:
|2 Bedroom Units||$44,520|
|3 Bedroom Units||$48,160|
|4 Bedroom Units||$52,760|
Monthly housing charges cover operating expenses of the property and mortgage payments. Members are responsible for their own heat, light, cable and telephone.
Shares must be purchased and an occupancy agreement signed to secure the right to move in. Shares are equal to double the housing charge (rounded up) and are payable prior to occupancy. Upon leaving the Co-op, shares are refundable and face value (less and debt or repair costs owing to the Co-p).
After your interview, credit check and Board approval, you may be formally offered a unit. When you accept you will be required to submit a certified cheque or money order for $1000, payable within 5 business days of your acceptance. If you move in, the $1000 will become part of you shares. If you do not move in after the payment of $1000, depending on circumstances these funds may not be reimbursed.
Members are required to obtain liability insurance and must show proof of this insurance annually. Insurance must be purchased prior to occupancy of any unit.
One four legged pet is permitted per unit in the Co-op and members are expected to abide by the rules and regulations of the Pet Policy. Cats and dogs must be spayed or neutered and shots must be kept up-to-date. No Pit Bulls, Dobermans or other breeds of dogs considered vicious will be allowed in the Co-op. Cats must be in-door. Any pets out of doors must be leashed at all times.
The Co-op is an independent organizations run by the members and an annually elected Board of Directors. Various members committees assist the board in running the Co-op (Maintenance, Membership, Social, Finance, etc.) All adult members are expected to attend the monthly general meetings as well as serve on a committee of their choice, which also holds monthly meetings.
The Co-op expects responsible active members who will abide by the Rules of Association, Occupancy Agreement and Policies. Failure to comply with the rules and policies or failure to attend general meetings may result in membership review by the Board of Directors.
- Two Storey Townhouse
- Dishwasher, stove, fridge
- Mini blinds throughout
- Electric baseboard heat
- One garage plus outdoor parking stall
- Full size washer/dryer connections
- One full and one half bath
- Double-glazed windows
- Gas fireplaces
- Fully fenced yards
- Heated storage