Cooperative Agreement With In Phoenix

State:
Multi-State
City:
Phoenix
Control #:
US-00018DR
Format:
Word; 
Rich Text
Instant download

Description

Cooperative apartments are different from individually owned subdivision properties, ordinary leaseholds, and condominiums. In subdivisions, each individual owns a home in fee. In an ordinary leasehold, the lessee holds no ownership interest in the lessor. In condominiums, each owner holds fee interest in a particular unit, together with an undivided fee interest in the common areas and facilities.

Cooperatives are often formed by members paying a membership fee or purchasing shares of stock. In a stock cooperative, members are issued stock certificates as evidence of their membership and capital investment. More than one type of stock may be issued. An apartment cooperative will typically be a corporation renting apartments to people who are also owners of stock in the corporation. The apartment complex is owned by the corporation.

Due to the proprietary nature of members' or stockholders' interests in the venture, substantial restrictions are generally imposed on lessee's rights to assign and sublease. Typically, assignment and sublease require consent of the board of directors of the corporation after examination of the suitability of the prospective assignee or sublessee.

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FAQ

Discounts across Co-op Get savings across our business, from food, to insurance and funerals and legal services.

op is essentially a nonprofit corporation, complete with a board of directors, and each resident is a shareholder. As members of the coop they contribute to the management of their community, electing a board of directors and often volunteering their time to coop activities.

Why do co-ops exist? The purpose of a cooperative is to realize the economic, cultural and social needs of the organization's members and its surrounding community. Cooperatives often have a strong commitment to their community and a focus on strengthening the community they exist in or serve.

The Strategic Alliance for Volume Expenditures (S.A.V.E.) is a consortium of local governmental agencies across the State of Arizona, who have agreements allowing other member agencies to utilize each other's contracts. S.A.V.E. does not issue solicitations nor is it an organization that vendors can join.

Disadvantages of buying a co-op Typically higher monthly fees than condos. Potential for greater restrictions depending on how shareholders want to run the building. Must pass an approval process with the board of directors. May take longer to close on the home.

op is essentially a nonprofit corporation, complete with a board of directors, and each resident is a shareholder. As members of the coop they contribute to the management of their community, electing a board of directors and often volunteering their time to coop activities.

Cooperative agreements will be legally binding agreements in document form. (4) Other requirements specified in the application.

A cooperative agreement is another form of financial aid. The granting agency and the grantee work together to carry out the purpose of the award. Contracts are financial transactions. Federal agencies buy property or services for their direct benefit or use from a service provider.

Registration is simple, easy and FREE. To begin the registration process, visit and click the tab titled Want to do business with the State?

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Cooperative Agreement With In Phoenix