Cortez Park is a community in which the residents have joined together and purchased their community from the landlord/owner. Cortez Park is a cooperative non-profit corporation owned solely by the residents who choose to participate. The cooperative purchased the community with money it derived from the sale of shares to residents.
Resident share ownership has many advantages. Here are some you may wish to consider and give you some thoughts as you look at Cortez Park.
- The community is owned and managed by the shareholder-residents.
- Shareholders own and direct the common assets.
- Directors are elected annually at the Annual Meeting.
- Shares in the common assets or managing corporation will increase in value just as your home
appreciates.
- Maintaining our property values and a great life style are our primary goals.
- Our objective is to give the best services we collectively think we need at the most reasonable price.
Maintenance fees cover the operational expenses and debt reduction of the park.
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