Gramercy Park Cooperative at Lake Shore Drive

PHILOSOPHY
We uphold the values of self-help, responsibility, democracy, equality, equity, and solidarity. In the tradition of the first cooperative founders, cooperative members encourage the ethical values of honesty, openness, social responsibility, and caring for others. Resident with Dog

MANAGEMENT
Democratic control is the cornerstone to cooperative living. Members have equal voting status in electing the board of directors from the ranks of their neighbors. The boarddecides all policy and budget matters and determines what professional management, oversight, legal and accounting expertise is needed. We have an on-site staff to supervise and perform all repairs, maintenance, and upkeep for members.

OWNERSHIP
Members own stock in the non-profit corporation that holds title to the building. Each month, member/shareholders pay an amount (monthly carrying fees) that covers operating expenses. These include the mortgage payment and the property taxes. Mortgage interest and property taxes represent about 60% of your monthly charge and are deductable on your income taxes. Monthly charges will increase only when the board of directors determines that taxes or operating costs justify an increase.

• Monica Elizondo
  Marketing Manager
  Phone: (612) 861-1378
  Send an Email