Housing Charges

 

 

 

Housing charge rates are adjusted from time to time as required to meet the fiscal obligations of the Co-operative.

There is both a minimum and a maximum housing charge for each of the four unit types.

Individual housing charges between the minimum and maximum levels are based on a percentage of gross annual household incomes and are dependent on the availability of subsidy (We have no subsidy available at the present time).

We currently base our housing charges on 28% of the gross annual household incomes, with the following maximum and minimum housing charges.

 

 

2011 Rates:
Unit Size
Minimum Housing Charge
Maximum Housing Charge
Number of Units
One-bedroom
334.00
696.00
10
Two-bedroom
438.00
913.00
30
Three-bedroom
515.00
1072.00
44
Four-bedroom
606.00
1262.00
4

 

 

We have a $12 charge each month for Satellite television programming which must be paid whether you use the system or not.  Please note that Housing Charge rates do not include utilities (electric heat, hot water, light and other utilities).

 

 

Share Purchases

Member Share purchases in the Cooperative:

One Bedroom $2000

Two Bedroom $2800

Three Bedroom $3300

Four Bedroom $3500

 

 

 

Other Share Information

The Co-op is a non-profit organization. On move-out, the original share purchase is returned (less any amounts owed to the Co-operative) and the Co-op then decides who will occupy the unit.

While you reside at Pine Ridge your share purchase forms part of the share capital pool which is currently invested under professional management with Odlum Brown Limited.  Earnings from the shares are used as directed by membership votes and have included playgrounds, landscaping, funding the satellite TV system, and providing funds for improvements to member’s units.

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Membership Classes

There is one Principal Member share per unit. Other adult residents may apply for Associate Member status upon completion of the application form, approval by the Board and payment of a $10.00 refundable fee per applicant. Co-operative membership entitles the holder to vote at meetings and run in Board elections.