How are community housing co-ops financed? I email info@theurbanist from arrengton@mail.com asking this question. I would appreciate your insight on this. All the best. Derek
Thanks for your question and sorry for the delayed answer. They are all financed differently. The nonprofits have the National Solidarity Fund (Landsbyggefunde) that residents pay into as "rent" once their initial mortgage is paid off. Co-ops used to be more subsidized by the government before 2001 but have mortgages paid collectively by residents. There are several options for loans that they balance, advised by a lawyer, and decided at their annual meeting. Christiania was purchased as a foundation which has small shares that were sold to anyone. They are now all sold. There is info on the web on how American models are financed, specifically search for limited-equity co-ops, community land trusts, and resident-owned communities (mobile home parks).
How are community housing co-ops financed? I email info@theurbanist from arrengton@mail.com asking this question. I would appreciate your insight on this. All the best. Derek
ReplyDeleteThanks for your question and sorry for the delayed answer. They are all financed differently. The nonprofits have the National Solidarity Fund (Landsbyggefunde) that residents pay into as "rent" once their initial mortgage is paid off. Co-ops used to be more subsidized by the government before 2001 but have mortgages paid collectively by residents. There are several options for loans that they balance, advised by a lawyer, and decided at their annual meeting. Christiania was purchased as a foundation which has small shares that were sold to anyone. They are now all sold. There is info on the web on how American models are financed, specifically search for limited-equity co-ops, community land trusts, and resident-owned communities (mobile home parks).
Delete