Senior Housing Cooperative - Ravalli County Council on Aging

July 22nd, 2008

Through a technical assistance network managed and funded by the Montana Cooperative Development Center, Ravalli County Economic Development Authority has been pleased to be able to assit the Ravalli County Council on Aging with some of the planning for their Sr. Housing Cooperative project.

Cooperative housing means joint ownership and operation of a housing development by those who live in it. Cooperative members are, in effect, their own landlords, enabling the cooperative community to be built and operated at a very affordable cost. Each member purchases a share in the limited equity corporation. These shares provide the equity to secure a mortgage. These individual shareholding members have equal voting status in electing the cooperative board of directors from their membership.

Cooperative housing combines the advantages and pride of home ownership with convenience of community living. Maintenance-free, secure, with a voice in community affairs, cooperative living represents a new choice for independent, active adults 55 and better.

For more information on this exciting project, the first of it’s kind in Montana, visit the Ravalli County Council on Aging web site for further information on this Montana company.

Entry Filed under: Cooperatives