Limited equity cooperative definition

Limited equity cooperative or “LEC” means a cooperative required by a government agency or nonprofit organization to limit the resale price of membership shares for the purpose of keeping the housing affordable to incoming members that are low- and moderate-income.
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Limited equity cooperative means a limited equity Housing Cooperative that limits the return allowed when its shares are sold.
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Limited equity cooperative. ’ means a shared equity
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Examples of Limited equity cooperative in a sentence

  • Limited equity cooperative" means a cooperative affordable housing corporation organized in accordance with section 1754.[PL 1993, c.

  • Limited equity cooperative housing can keep housing permanently affordable through legal restrictions on the financial gain on the future sale of shares.

  • In this manner, we progress both the articles and principles of Te Tiriti o Waitangi by maintaining the balance between Kawanatanga (Governance) of the Council and Tino Rangatiratanga (Sovereignty) of whānau, hapū, and iwi Māori.3.2 There are no known cultural considerations associated with the matters addressed in thisreport.

  • Jean relied on them the way one would rely on family—everything from post-surgery care to funeral arrangements for her husband and son.

  • Limited equity cooperative housing is a form of multi-family housing that offers residents both affordable ownership opportunities and management control.


More Definitions of Limited equity cooperative

Limited equity cooperative means a cooperative corporation formed under ORS chapter 62 whose articles of incorporation, in addition to the other requirements of ORS chapter 62, prohibit members from selling their ownership interests:
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Limited equity cooperative means a cooperative formed as a common interest community in which the real property is owned by the cooperative, each of whose members is entitled by virtue of his ownership interest in the cooperative to exclusive occupancy of a unit and whose declaration contains any restrictions on (1) the amount for which a unit may be sold, or (2) the amount that may be received by a cooperative member on the (A) sale or condemnation of, or casualty loss to, the unit or to the common interest community,
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Limited equity cooperative means a cooperative housing corporation, organized in
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Limited equity cooperative means a cooperative operating on a property owned in part by
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Limited equity cooperative means a cooperative operating on a property owned in part by 7its occupants. A not-for-profit corporation may own an interest in the property.8Not-for-Profit Rental Cooperative means a rental cooperative owned by a corporation9registered with the United States government pursuant 26 U.S.C. § 501(c)(3).10Private equity cooperative means a cooperative operating on a property owned jointly by11the residents of the cooperative.1213 Rental cooperative means a cooperative in which the some or all of the residents do not14 have an ownership interest in the property in which the cooperative operates.15 Section 7. A new Chapter 10-11 is added as follows:16 Chapter 11 Cooperative Housing17 10-11-1. Legislative Intent 18 The City Council intends to facilitate cooperative living arrangements. The Council finds19 that cooperative living arrangements can provide an affordable alternative for living in Boulder.20 In addition, cooperative arrangements can provide supportive and fulfilling community for their21 residents. The City Council seeks to balance the benefits of cooperative living against the 22impacts from the increased density that comes along with cooperative living. The City Council23also is concerned about cooperatives competing in a tight housing market with families seeking24single family homes.25 1 10-11-2. - Cooperative License Required Before Occupancy.2 No person shall occupy, allow, or offer to allow through advertisement or otherwise, any3 person to occupy any cooperative housing unit unless the cooperative housing unit has been4 issued a valid cooperative housing license by the city manager.5 10-11-3. – Cooperative Housing Licenses.6 (a) License terms shall be as follows:
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Related to Limited equity cooperative

  • Limited Condition Acquisition means any acquisition, including by way of merger, by the Borrower or one or more of its Restricted Subsidiaries permitted pursuant to this Agreement whose consummation is not conditioned upon the availability of, or on obtaining, third party financing.

  • Limited liability company means a limited liability company formed under Chapter 1705 of the Ohio Revised Code or under the laws of another state.

  • Securities Financing Transactions means collectively securities lending transactions, sale and repurchase transactions and reverse repurchase transactions.

  • Investment Management Agreement means the Investment Management Agreement, dated as of the date hereof, by and between the Investment Manager and the Borrower.

  • Foreign limited liability company means an unincorporated entity formed under the law of a jurisdiction other than this state and denominated by that law as a limited liability company.