Who are the owners of our building?

The Cooperative is essentially owned by the members. We have a non-share issuing agreement with the Cooperative where we receive no monetary Value for the shares, and we cannot sell or trade them. When we become members we initially pay a membership fee, sign a Housing Agreement and for the time we live here and are members we own our Building.

Do we Pay Rent Or Housing Charges?

Rent has its legal basis in Real Estate Law, and it does not apply to any Housing Cooperative whatsoever. Since Housing Charges do not have any legal connection to Real Estate Law we pay Housing Charges. We also sign a Housing Agreement which is our individual contract with Neill-Wycik Cooperative College, our Housing Cooperative. Also, our Housing Agreement is our share in the Cooperative that we give back to the Cooperative when we move out.

How much do we receive from the government as subsidies?

Zero! We receive no government grants designed to underwrite or subsidize Our Housing Charges. Currently due the unprecedented financial strain brought about by the Pandemic; we have applied for and are receiving Federal Pandemic relief to help us with our Operations.

Who is making decisions about building?

Day to Day decision Making on anything necessary to carry out the dad to day Operations of the Cooperative are done by Management. Cooperative Policy is decided and implemented (by Directing Management to carry it out) by the Board. (e.g. The Parking Policy). Bylaws are brought before the Board (in almost all cases initiated by the Board.) passed as a Resolution of the Board - but are never considered valid, and have no legal standing until they are brought before the members at a General Meeting and passed. If the Bylaw fails - it does not come into effect. Ontario Law stipulates that that particular Bylaw may not be revisited for 3 years minimum. Fees and Housing Charge increases must be approved by the members in every single instance, or they are invalid. Said fees only become legitimate when the members approve the fee at a General Meeting.