Whitby Free Press, 12 Oct 1977, p. 10

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PAGE 2, WEDNESDAY, OCTOBER 12, 1977, WHITBY FREE PRESS SUPPLEMENT ment. But ini order to maintain this, benef it, there can be no profit to anyone. That is, when ',you move out there is no speculative gain. If the project s ever sold, any money over and above the mort- gage debt must go to a charitable organization. Security- There are two aspects to this benef it. First and foremost, you can live in the co-o)p as long as you like, if you meet your obligations as a co-op member. There is no yearly lease; you sing a ""housîflg agreement" with the co-op corporation which gives you security of tenure until ycu move out. Secondly, the co-op offers economic security in the sense that your housing costs are quite stable, rising only with inflation in operating items such as taxes, hydro and heating. These increases can sometimes be offset by operating efficiency through offering some voluntary labour to the co- op. Control The affairs of ail co-o)peratives are demro- cratically controlled by their members on the basis of one member, one vote. Unlike a rentaI situation, you will have a sav in how the project is ýmanaged. Ail members collectively own the assets' of the corporation. Vour rights, as members, by, law, include electing a Board of Directors annually, appointing an auditor, receiving an annual audited statement on the f inancial affairs of the co-op and questioning the Board and auditor on these affairs. At the members' meetings, you will also have the right and responsibility of voting on major co-rop policies and budgets. Cqmnuiftly People of ail incomes and occupa- tions can be found in housing co-ops. They are co- op members flot only for the economic advantages, but also the social ones. You are assured of know- ing your meighbours, knowing that somneone who will help in an emergency is nearby and of having community social activities such as dances, rum- mage sales, potluck suppers, bingos, if you like. There are mnore practical benefits as well. A food or day care co-op can be organized. And, if you really participate in the co-o)p, you will have a great sense of personal accomplishment. Yeou will no longer be a passive tenant awaiting the next rent increase, new rules imposed by an outside authority or enduring poor management 'over which you have no control. CO-OP BACKGROUND, People in the Oshawa-Whitby 'area perhaps are more aware of co-ops than mfany others in Ontario through the many unions and credit unions. Most people do flot know, however, that co-ops have a long and world-wide tradition. Apparently, there was a form of co-operative ownership in China, but the' modern concept dates from the time of the Industrial Revolution in England. It represents the sucoessf ul attempt of oppressed per)ple to take collective control of their economic lives and away from the previously ail powerful,. r ndustriolists.' In Canada, co-ops were f irst introduoed and are most widely known in the form of credit unions and secondly, agricultural co-ops. During' the Depression in Cape Breton, people joined together to purchase materials and build houses collectively. These building co-ops are now quite popular in ail the Maritime provinces, Quebec and Saskatchewan. The f irst "continuing non-profit" co-op was built in Winnipeg in 1964. The "co ntinuing" means that ownership of the property remains with the corporation after construction. Since amendments FLOOR -PLAN entry eating 8L3'xilLo"- Lii. dîinn 8!-50xlO'3 terrace 20O"O' 6!4' Iower leývel one bedroomwith study upperlel one bedrco m W'thstudy i

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