That the pricing of units ensures that the co-op remains affordable and available to people who are seeking and/or need alternatives to private rental housing or private home ownership.
FINDINGS
1. 85% of all members felt housing charges are “just right”.
2. Woodsworth’s housing charges are dramatically lower than market rents in Toronto. Our housing charges are also lower than those in four other similar co-ops that were studied.
lMPLlCATlONS
The study shows that current members are quite satisfied with their housing charges. The only possible issue is whether housing charges are too low for members with higher incomes. As noted in the discussion related to Objective #2, Woodsworth is meeting only the minimum government requirement for subsidized units for lower-income people.
RECOMMENDED ACT1ONS
The Board should determine whether any other housing co-ops have implemented higher housing charges for higher income members to help build a subsidy pool for lower income members. After study of any existing models, the Board should bring forward a proposed model for discussion by members and implementation in 1990.