CO-OP LIVING
The Mission of 7500 York Cooperative is to provide a safe, healthy, and pleasant home for resident members to enjoy
an active, independent lifestyle in a senior cooperative environment.
MEMBERSHIP IN A CO-OP
Persons applying for resident membership at 7500 York Cooperative must be 55 years or older, meet or exceed the minimum income requirements and pass a criminal background check. Resident membership is open to all persons, regardless of race, color, creed, national origin, gender, marital status, familial status, religion, disability, sexual orientation or gender identity.
PURCHASING A CO-OP SHARE
The Cooperative has been created for the benefit of each person in conjunction with that of fellow resident members. Prior to occupancy, each resident member indicates his or her intention to join by signing a Purchase Agreement. This agreement sets forth the Corporation’s promise to entitle the resident member to occupancy of a specific dwelling unit in the community and the resident member’s agreement to purchase his or her proportionate membership share.
In addition, the resident member enters into an Occupancy Agreement with the Cooperative Corporation. This agreement specifically defines the resident member’s right to occupancy of the dwelling unit.
There are 337 units in the building and 337 shares in the Cooperative. Those selecting a unit purchase one share which increases in value each year by the annual equity buildup as stated in the bylaws. When a resident member sells, the share value, including the resident member’s equity build-up less the selling cost, is returned to the member upon resale of the share.
Learn more about making the move to 7500 York Cooperative!
YOUTUBE VIDEOS
Click on a title below to view videos filmed at a variety of Minnesota senior cooperatives which explain cooperative living in more detail:
Lifestyle and Benefits of Cooperative Living
CO-OP ORGANIZATIONAL STRUCTURE
7500 York Cooperative is governed by a nine-person Board of Directors who are all resident members and owners. The Board of Directors, which is elected by the membership of 7500 York Cooperative, has established 12 standing committees of residents who guide the Board of Directors in its policy-making function.
There are 14 Resident Activity sub-committees, which meet regularly to discuss, plan and implement the many activities offered. We proudly applaud our over 200 resident members who participate on at least one committee.
