Board & Committees

How a Co-Op works

A housing co-op is a non-profit organization incorporated under the Cooperative Association Act that provides housing to its members. Members purchase shares to join and elect directors to govern the co-op. Co-op members do not have a landlord and monthly rent is called "housing charges". Co-ops are inspired and guided by the seven international co-op principles in everything they do.

Members of non-profit housing co-ops come from a variety of backgrounds and have a range of incomes making co-ops "mixed-income communities." Some members pay a full housing charge. Other members with lower incomes may pay less with a rental subsidy for those with an existing agreement with government.

Non-profit housing co-ops that receive support from the government (federal or provincial) to help house some lower-income members call that support a subsidy. Housing charges for subsidized units are adjusted to fit with household income. Subsidy makes up the difference between what the member pays and the co-op’s market rate housing charge. However, unfortunately the amount of subsidy is limited and just because someone is eligible does not mean the co-op will have the subsidy to help.

Co-op members are not landlords or tenants. As co-operative owners, members work together to govern their association and manage their homes to foster strong communities.

Members elect a board of directors from among themselves to govern the co-op’s operations. Most co-ops also contract with managers to handle the daily operations and maintenance of their homes.

Board of Directors

The board is elected by and accountable to the co-op’s members. Directors are volunteers who have a legal obligation to act honestly, in good faith, and in the best interests of the co-op. The Board of Directors shall be comprised of five (5) Officers and four (4) Directors.

President

Vice President Membership

Vice President Maintenance

Treasurer

Secretary

Director

Committees

At Artspace there are a variety of Committees to suite your ability and desire to be a part of your community. Social Committee ensures everyone comes together by planning events for members. Decorating Committee gets together a group of members interested in keeping the space looking great. Other committees come availble at different times of the year. Below is some information about the executive committees:

Membership Committee

Attracting and interviewing prospective members, and welcoming new members. VP Membership is the liaison for this committee.

Maintenance Committee

Manages and maintains Co-op property, review major service contracts, and recommends maintenance priorities. VP Maintenance is the liaison for this committee.

Finance Committee