BREAKING NEWS ON AUGUST 15, 2014 IN THE MATTER OF MATTHEW WAY CO-OPERATIVE HOMES INCORPORATED
Enterprise-Bulleten August 15, 2014 By Morgan Ian Adams "County changes name, direction, for former co-op housing project" http://tinyurl.com/n38j9zq
IN THE MATTER OF TOPSHEE HOUSING CO-OPERATIVE LIMITED AND MCINTOSH RUN HOUSING CO-OPERATIVE LIMITED ("CO-OPS")
Royal Gazette June 13, 2012 - Nova Scotia
The co-ops are noted in violation of the Co-operative Associations Act, Section 43, Chapter 98. ~ A Notice of Dissolution was published in the Royal Gazette.
Please click link below to access some information:
http://tinyurl.com/kf4h3qj
IN THE MATTER OF FOXFELL FRIENDS CO-OP COMMUNITY CORPORATION
City of Orillia Council Meeting Minutes as at February 13, 2012
4. "THAT as recommended in the report dated January 31, 2012 from the Interim City Treasurer, Council enter into a Late Payment Agreement with Foxfell Friends Co-operative Community Corporation for the repayment of development charges and accrued interest over a five-year period; AND THAT the Late Payment Agreement start date be set as August 15, 2011 with an annual interest of 4% per year."
Please click link below and scroll down to page 9 from the minutes:
http://tinyurl.com/kbm89yp
Ontario Ministry of Municipal Affairs and Housing; Media release on January 28, 2005
"324,000 Allocated For Affordable Housing in Simcoe County"..."The project is sponsored by Foxfell Friends Co-operative Community Corporation."
It should be noted that the link to the entire MMAH media relese may be found through a Google Search.
Some additional background information noted in local News Media:
orilliapacket.com
June 10, 2013
By Roberta Bell, Orillia Packet & Times
"Housing corporation accuses councillor of prejudice, suggests Linda Murray declare conflict of interest"
http://tinyurl.com/lsbalne
simcoe.com
February 8, 2012
"Co-op eyes bank loan"
http://tinyurl.com/kvwelax
simcoe.com
November 17, 2011
"Housing co-op in jeopardy"
http://tinyurl.com/lltszte
IN THE MATTER OF SAND HILLS CO-OPERATIVE HOMES
Regional Municipality of Waterloo Council Meeting and minutes as at April 17, 2013
Re: Sand Hills Co-operative Housing Inc. - Report: CR-RS-13-034/P-13-042
Please click link below and scroll down to pages 20-23 to view the 4-page report
http://tinyurl.com/cxaydxb
Some background information noted in local News Media:
You can research numerous news articles about Sand Hills co-op or other housing co-ops in their search window at :: The Record
Example: April 27, 2014 - By Paige Desmond, Staff - ::
"Sand Hills co-op battle 'sordid affair' Councillor says"..."In one incidant, lawyer Murray Klippenstein "said those were 'fighting words' and flung a paper coaster at the region's counsel" upon suggestion a new board be installed, court documents say."
And "The actual membership of the board was uncertain. A corporate profile last updated in January 2012 listed 14 directors. One was dead and others weren't directors anymore."
ctvnews.ca
July 11, 2013
"Drugs, replica guns found at Kitchener housing complex"..."Police executed a search warrant at a unit in Sand Hills Co-Op"...
http://tinyurl.com/mvzde79
ctvnews.ca
April 16, 2013
"Deposed housing co-op board members oppose board's replacement"
http://tinyurl.com/bwshghm
ctvnews.ca
April 15, 2013
"Region takes control at troubled Kitchener housing co-op"
http://tinyurl.com/dx9xy5j
IN THE MATTER OF NORTH END UNITED HOUSING CO-OPERATIVE
Review Province of Nova Scotia, Department of Community Services and North End United Housing Co-operative Ltd. Oversight of Social Housing Assistance Repair Program, Government and Financial Sustainability Review August 10, 2011 that was prepared by Grant Thornton LLP.
Please click link below to access and review the 54-page Report:
grantthornton.ca
http://tinyurl.com/7dhaog5
IN THE MATTER OF GATEWAY CO-OPERATIVE HOMES
Some background information noted in local News Media:
simcoe.com
February 1, 2010
By Laurie Watt, Staff
"County may rescue city co-op"
http://tinyurl.com/4egquu4
simcoe.com
June 17, 2008
By Laurie Watt
"County oversees co-op"
http://tinyurl.com/4blzk6c
simcoe.com
August 15, 2007
By Laurie Watt
"County takes over control of co-op"
http://www.tinyurl.com/4cdlt67
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IN THE MATTER OF WHITEHORSE CO-OPERATVE
CHF Canada's Newsbriefs \ National Edition Fall 2009 - Volume 17, No.3 - Whitehorse Co-op is noted on pg. 10 of the 16-page NewsBriefs. Click link below to access:
http://www.tinyurl.com/3oq2c5k
Excerpt's, whole or in-part from the article below, are noted in quotation's:
"A SMALL CO-OP'S BIG VICTORY: Whitehorse Housing Co-op overturns receivership"
By Fiona Jackson
"Whitehorse Housing Co-op's 12 detached homes in Whitehorse, Yukon Territory is a small housing co-op, and the only one in the Yukon."
In 2003, when the co-op needed funds to cover immediate capital repair work, the Federal Co-operative Housing Stabilization Fund stepped up with a temporary loan. But when the co-op misused the loan funds and missed a mortgage payment, the Yukon Housing Corporation (YHC) put it into receivership."
"They had applied for a second loan mortgage through the Stabilization Fund, but the receiver wanted more assurances."
..."local consultant, Bob Nardi."..."It was always a question of viability," "Nardi recalls.""The Yukon Housing Corporation was concerned the co-op might not be able to exist long term, and they finally decided that the solution was to seize the asset and place it in the YHC housing portfolio."..."They had to increase the housing charges"..."The YHC had to agree to the loan from the Stabilization Fund and they had to approve an extension of the amortization by five years."
..."The co-op had to get buy-in from all members, restructure the co-op's system to prevent another failure, increase revenues, and upgrade the units, which needed repair."
..."CHF Canada, the co-op was able to achieve a settlement that has resulted in a workout for them."
Some background information noted in the News Media:
cbc.ca
April 9, 2008
"Yukon government asks court to dissolve Whitehorse Co-op"
http://www.tinyurl.com/4c4jozb
Additional background information about Whitehorse Co-op:
Yukon Legislative Assembly - 32-legislature/sesson1
March 26, 2008
Question, re: White Horse Housing Co-operative, and Yukon Housing Corporation, noted on pg. 4 and 5 of the 31-page transcript document. Click link below to access:
http://www.tinyurl.com/3skc5ow
Excerpt's, whole or in-part from the transcript document below, are noted in quotation's:
"Mr. Cardiff: I have a question for the minister responsible for Yukon Housing Corporation."..."Yukon Housing Corporation was planning to seek a court order to dissolve the Whitehorse Housing Co-operative and turn the 12 housing units over to Yukon Housing Corporation."..."Can the minister give us an update on this situation?
Is Yukon Housing Corporation still planning to proceed with that court case?"
"Hon. Mr. Kenyon:"..."In 2003, the co-op began to experience internal financial and management problems, including the non-payment of the financial obligations, including their mortgage. In the fall of 2003, the co-op accessed a $60,000 loan -- not a grant, a loan -- from the federal cooperative housing stabilization fund, which is administered by the national co-op body. The intent of the $60,000 loan was to address the mortgage and tax arrears, as well as capital improvements. Continuing financial and management problems included non-payment of arrears, mortgage and taxes, and that's administered by the national co-op body. The intent of that $60,000 loan was there but, between June and November of 2003, the debts incurred by the co-op were approximately $125,000, while the loan can only cover half of the debts incurred."
"In October 2003, the co-op's bank account was closed by the bank because the account was overdrawn."
"Mr. Cardiff: The minister didn't answer the question."..."Have the minister's officials given any indication that they are willing to back down and agree to work in good faith with the co-op board to resolve this situation? Can he answer that question?"
"Hon. Mr. Kenyon: For the member opposite, I do apologize for giving fact and justification. In October 2003, CMHC advised the lender that the co-op missed July, August and Setember mortgage payments. In November 2003, both the president and vice-president of the co-op resigned. In November 2003 to March 26, 2006, the issue of the co-op was brought to the Yukon Housing Corporation Board of Directors on eight different occasions and the board reviewed everything from governance, management, operating budget, capital and maintenance budget, financial information dating back to 1995, and property appraisals, et cetera."...
"In December 2003, the Whitehorse Housing Authority, on behalf of the Yukon Housing Corporation, was appointed by the courts as receiver/manager of the co-op. This was ordered by the courts. It can only be dissolved by the courts. There is not a question in anyone's mind that this can only be settled in the courts and, therefore, the threat of possibly going to court is rather moot and redundant."
"The majority of the co-op members signed a letter to the RCMP asking that they look into it. The Housing Corporation hired McKay & Partners, at Yukon taxpayers' expense, and the audit was given to the RCMP, who advised us that, although some of the transactions were questionable, no action would be taken."
"Mr. Cardiff:...What is the minister and the Housing Corporation prepared to do today to assist these people like they were supposed to, to assist the housing co-op? Now, the co-op has proposed a solution to the long-standing conflict by suggesting that the Housing Corporation simply withdraw as receiver/manager. That could avoid a costly and damaging court action that is really in no one's interest. I hope the minister understands that the olive branch has been extended."...
"Hon. Mr. Kenyon: In August 2004, CMHC extended a comfort letter to the lender for the mortgage which was in arrears. In September 2004, we incurred, on behalf of the co-op, approximately another $50,000, taking no funds whatsoever to act as the receiver. The comfort letter was extended into 2005 and now into 2007."
"At the request of the members of the co-op, we engaged a third party to examine this. The board of directors have accepted that report; CMHC has accepted that report, and that is what we have gone back to the courts with, asking the court for a solution as we have no choice. Another solution might be someone else; perhaps the member opposite and his party would underwrite the several hundred thousand dollars that they're in debt and look after the $80,000 or $90,000 that Yukon taxpayers put into the co-op. All we want to do is remove that financial debt and that financial load from the Yukon taxpayers. How the court settles is a court matter."
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IN THE MATTER OF TANGLEWOOD ORCHARD COOPERATIVE HOMES
City of London, Ontario Housing Division: Chair and Members of the Community and Protective Services Committee - Subject: Revisions to Criteria to Access the Social Housing Major Repairs and Upgrades Stabilization Reserve Fund and Approval of a Housing Provider Request for Funding from the Social Housing Major Repairs and Upgrades Stabilization Reserve Fund. Tanglewood Orchard Cooperative Homes is noted under Agenda Item #3 and Page #16 that can be found on page-3 & 4 of the 14-page pdf Report. Click link below to access:
http://tinyurl.com/3vtknwz
Excerpt's, whole or in-part from the Report below, are noted in quotation's:
"REQUEST FROM A HOUSING PROVIDER FOR FUNDING IN EXCESS OF $100,000"
"Tanglewood Orchard Cooperative Homes of London Inc. is a 72 unit family townhouse complex built in 1991. Tanglewood has once again been identified as a potential Project in Difficulty (PID). The Housing Division has been working closely with this co-op over several years and the serious issues with mold, water damage and vacancies were successfully addressed."
"However, new problems with arrears, vacancies and potential fraud have resulted in the Board of Directors resigning and the Housing Division installing an interim Board of Community volunteers, plus two current co-op members. This new Board is tasked with addressing a series of issues in order to prevent Tanglewood from becoming a PID under legislation. This turnaround process usually takes up to two years. The new Board is working closely with the Housing Division and with the Cooperative Housing Federation."
"There are several capital maintenance issues that the Board is addressing as well. One such item is the serious deterioration of the townhouse roofs."..."These are the original roofs and repairs are no longer possible. As required, the group obtained 3 competitive quotes for the work required."
"Tanglewood is requesting $214,038 (incl. GST)"...
"RECOMMENDATION"
"It is recommended that Tanglewood Orchard Cooperative Homes of London Inc. receive an allocation of $214,038 (incl. GST)"...
"Any funds advanced will be subject to the proponent signing a loan agreement with the City of London."...
Additional background information about Tanglewood Orchard Cooperative Homes, reported in News Media:
Londonfreepress.com
September 29, 2010
By Jane Sims, The London Free Press
"Former housing co-op president pleads guilty"
http://www.tinyurl.com/4mecnf2
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