Limited Equity Cooperatives: Greenbelt’s Affordable Housing Workshop July 31,

What is cooperative ownership?  Corporate ownership of real estate  Resident ownership of shares/membership  Leasehold rights for shareholders/members

How does Co-op Financing Work?  Blanket Financing  Share Financing

Single family model Debt: 80% Equity: 20%

Condo model equity Different levels of debt and equity for each individual unit and unit- owner

Cooperative model: (Option 1) equity 30% blanket debt with various levels of share debt and equity for each member-owner

Cooperative model: (Option 2) equity No blanket debt with various levels of share debt and equity for each member- owner

Cooperative model: (Option 3) 100% blanket debt HUD section 213 financing

Cooperative model: (Option 4) <10% restricted equity >60% untapped equity 30% blanket debt

Baltimore Co-ops  Poppleton  Reservoir Hill  Sandtown Winchester  Washington Hill  Waverly Terrace

Questions? Please call Jim Gray (202)

Limited Equity Cooperatives: Greenbelt’s Affordable Housing Workshop July 31,