Six Corporate Entities are Created in the Process

  1. Home Buyers Club (Starts as, then becomes 2.)
  1. Prospective Homeowners Mutual Benefit Society (The corporate entity which incorporates others)

Two Property Development Companies are created (One builds out properties for low-low, low and moderate income buyers, while the other builds out properties for middle, upper-middle and upper income buyers)

  1. Homes for the Rest of Us, Inc. (Non-profit) Independent, but owns the for-profit below
    1. Competitively Priced Residences, Inc. (For-profit) Wholly-owned subsidiary

Two Housing Co-operatives (Non-profits) are incorporated (One manages properties for low-low, low and moderate income buyers, while the other manages properties for middle, upper-middle and upper income buyers)

    1. Limited Equity Co-op (LEC)
    2. Market Equity Co-op (MEC)
  1. Community Land Trust (Independent Non-profit) is formed, and Limited Equity Co-op’s land is transferred to it, so it remains affordable by leasing the land itself back to the co-operative for 99 years.

Download this page in the form of a Word document