Cooperatives: A Housing Alternative for Rural America

Tracey Kennedy, Andrew Jermolowicz, Mary Ann Lambert, John Reilly and Beverly Rotan

No 317809, Service Reports (SR) from United States Department of Agriculture, Rural Development

Abstract: In a housing cooperative, people join to form a cooperative corporation that owns the buildings in which they live. Purchasing a share in the cooperative entitles each member to lease and occupy a dwelling unit from the cooperative and to participate in its operation. Each member pays a share of the cooperative’s monthly expenses. Housing cooperatives are democratically controlled, meaning that each member has one vote in deciding the affairs of the cooperative. Housing cooperatives offer affordability, a sense of empowerment in that residents have control of their own living situations, and the permanence and stability that comes with home ownership. The basic steps involved in organizing a housing cooperative may occur in a different order or even simultaneously, depending on the project. No matter what the project, the process involves identifying needs, measuring interest, determining financial feasibility, and incorporating as a legal organization.

Keywords: Community/Rural/Urban Development; Institutional and Behavioral Economics (search for similar items in EconPapers)
Pages: 37
Date: 1995-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:urdvsr:317809

DOI: 10.22004/ag.econ.317809

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