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Each member of Lakeview Terrace Cooperative Property owns one share and has one vote in the cooperative. The cooperative corporation holds title to the property and is responsible for the mortgage. A Board of Directors is elected by the members. The directors set policy, establish rules and determine how money is spent.
• To qualify for membership you must meet the income and credit standards established by the Board of Directors.
• Because the corporation is a not-for-profit organization, we are able to offer far more housing for less money than it would be possible for you to buy or rent anywhere else.
• Maintenance service is provided to members during normal office hours. The Cooperative’s professional maintenance staff is available to treat emergency calls on a 24-hour basis.