In the Heart of Toronto
Woburn Village is a non-profit housing corporation made possible by the efforts of several local residents who recognized the need for community- sponsored affordable housing. Woburn Village was developed under the Ontario Ministry of housing non-profit program and is managed by its Member.
What is a Co-operative?
A housing co-operative is a non-profit corporation. The corporation owns the housing complex and the residents or “members” of the co-op, as a collective group, manage the corporation. Members’ monthly housing charges are based on the co-op’s operating costs. They also contribute their time to the management and day to day operation of the co-op. By participating in this way, costs are lowered and a sense of community is developed.
Obligations of Membership
The Co-op depends on the active participation of its members. Applicants who are approved for membership will:
- Participate in the decision-making process by attending meetings;
- Share responsibility for the operation and administration of the co-op;
- Work to minimize the co-op’s costs through voluntary labour;
- Become educated in the principles and in the functioning of the co-op;
- Pay the housing charge, membership fee and the member loan as and when required;
- Sign and abide by the terms of the Occupancy Agreement; and
- Treat the unit assigned with the care and attention due a family home.