1. Limited Equity Cooperatives: Greenbelt’s Affordable Housing Workshop July 31, 2006 www.ncbdc.org

2. What is cooperative ownership?  Corporate ownership of real estate  Resident ownership of shares/membership  Leasehold rights for shareholders/members

3. www.ncbdc.org How does Co-op Financing Work?  Blanket Financing  Share Financing

4. www.ncbdc.org Single family model Debt: 80% Equity: 20%

5. www.ncbdc.org Condo model equity Different levels of debt and equity for each individual unit and unit- owner

6. www.ncbdc.org Cooperative model: (Option 1) equity 30% blanket debt with various levels of share debt and equity for each member-owner

7. www.ncbdc.org Cooperative model: (Option 2) equity No blanket debt with various levels of share debt and equity for each member- owner

8. www.ncbdc.org Cooperative model: (Option 3) 100% blanket debt HUD section 213 financing

9. www.ncbdc.org Cooperative model: (Option 4) <10% restricted equity >60% untapped equity 30% blanket debt

10. www.ncbdc.org Baltimore Co-ops  Poppleton  Reservoir Hill  Sandtown Winchester  Washington Hill  Waverly Terrace

11. www.ncbdc.org Questions? Please call Jim Gray (202) 336-7642. www.ncbdc.org

12. Limited Equity Cooperatives: Greenbelt’s Affordable Housing Workshop July 31, 2006 www.ncbdc.org