Cooperatives

Housing Housing cooperatives offer a unique form of homeownership. Instead of buying real property, members purchase shares in a corporation that owns the building, granting them exclusive rights to occupy a specific unit.

• Affordability: Unlike profit-driven rentals, cooperatives operate on a cost-only basis, collecting fees solely to cover operating expenses and outstanding bills.
• Democratic Control: Members elect a board of directors annually to set policies and manage operations. Board members are accountable to the community and hold open meetings to ensure shareholder participation.

With a long history of cooperative management, Legacy proudly participates in both the Midwest Association of Housing Cooperatives (MAHC) and the National Association of Housing Cooperatives (NAHC).