CHF Canada eNews
November 18, 2016

Reminder: Video shows Refinancing and Asset Management helping co-ops renew homes

Our Movement. Our Future: STAR consultation stage now open

Toronto’s Oak Street Housing Co-op refinances for $7.5 million

Housing co-op murder mystery the perfect read (or gift) for the holidays

Reminder to Co-op Managers: Apply for a scholarship to develop skills and knowledge

CONTACT US
CHF Canada
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Ottawa ON K2P 1P9

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REMINDER: VIDEO SHOWS REFINANCING AND ASSET MANAGEMENT HELPING CO-OPS RENEW HOMES

(This story was sent only to subscribers in AB,SK,MB,ON,NB,PE,NS,NL,YT,NT,NU.)  CHF Canada’s newest digital video shows the positive results of the Refinancing Program and Asset Management Services on housing co‑ops across the country.

CHF Canada’s Janet Shim and David Spackman explain how refinancing and asset management help make seemingly daunting major co‑op renewal projects not only simpler and easier, but also more effective and long lasting. Both of these services are in full swing with $53.4 million in refinancing loans secured and over 80 co‑ops using CHF Canada’s Asset Management Services.

OUR MOVEMENT. OUR FUTURE: STAR CONSULTATION STAGE NOW OPEN

Members shared lots of ideas in the first stage of the Our Movement. Our Future. Voicing our Vision consultation – over 1,000 of them!

Thanks to everyone who took part! Your ideas are helping to shape the future of our co‑op housing movement.

The STAR stage is now open, starting today. If you have signed-up, you’ll automatically get an email inviting you to identify the ideas you like best. It’ll take only 5-10 minutes to complete, and is a great way to see what ideas have been shared and give your input on what is most important.

Did you miss your chance to SHARE your ideas during the first stage? It’s not too late to get involved! Sign up here to take part in the STAR stage. And do you know a co‑op member that wants to join but doesn’t use email? Here’s how you can help them be involved. They can join in English or French through these links.

A special congratulations to the winners of the Tim Hortons $25 gift card draw! We will be in touch with the winners to notify them of their prizes.

TORONTO’S OAK STREET HOUSING CO-OP REFINANCES FOR $7.5 MILLION

Things are about to change for Oak Street Housing Co‑operative in downtown Toronto. This 149-unit community has secured a $7.5 million loan from Alterna Savings credit union through CHF Canada’s Refinancing Program

These changes will improve members’ quality of life and support accessibility and aging in place, issues that Oak Street, like many other co‑ops, take very seriously. This Toronto co‑op has an Aging in Place committee, and has hired an accessibility consultant to oversee renovations.

The money will be used to replace elevators and rebuild a ramp to its inner courtyard, as well as appliances, windows, doors, kitchens and bathrooms (after paying out the co‑op’s existing CMHC mortgage).

This is the largest loan completed to date through CHF Canada’s Refinancing Program. So far, 19 Section 95 co‑ops representing more than 1,100 units have refinanced through the program, totalling $53,400,000 in loans through partner credit unions.

Brian Eng is a member of CHF Canada’s Board of Directors and a former member of Oak Street. He points to this refinancing deal as “an example par excellence” of “building partnerships within the co‑operative movement.”

CHF Canada Program Manager, Refinancing Janet Shim says that both the board and the members of Oak Street were knowledgeable and engaged. At members’ meetings, the co‑op was full of questions and excitement. Brynne Teale, who has worked at the co‑op since it opened 32 years ago, commented, “It’s always been a very strong community. The members here have always taken leadership and taken responsibility.”

The loan promises to have an immense impact for Oak Street’s members. Shim commented that refinancing improvements make for “happy members, safer communities and overall viability of the co‑op sector. This shows that the refinancing program has the capacity to manage large-scale capital projects: the sky is the limit.”

HOUSING CO-OP MURDER MYSTERY THE PERFECT READ (OR GIFT) FOR THE HOLIDAYS

Finding affordable housing can seem like the answer to all of one’s prayers. At least Rebecca Butler thought so when she secured a three bedroom unit in ‘Waterview’ Housing Co‑op. A dead body found in the co‑op office makes her wonder if she’s made the right move.

So begins the plot of “Murder is Uncooperative.”

Author Merrilee Robson previously worked for CHF Canada as Program Manager, National Communications and is a former president of the Co‑operative Housing Federation of BC. She was also the founding president of Trafalgar Housing Co‑op in Vancouver.

She says she came up with the idea while working for co‑op housing. “The phone calls I received were very interesting. Although many people love and enjoy living in their co‑op, it can be difficult for some.”

Co‑op members will relate to the protagonist’s search for housing, and with the relief she feels when she finds safe, secure, affordable housing. And they “will find the descriptions of meetings funnier than those who don’t live in a co‑op’, says Robson, “but the story is accessible to everyone.”

“Except for a killer, the people in this book are just like your co‑op neighbours,” says CHF Canada’s Director, Corporate Affairs Nick Sidor. “Merrilee has nailed the co‑operative experience but added a macabre twist.”

You can purchase your co‑op murder mystery online through Chapters Indigo or through the publisher North Star Press.

REMINDER TO CO-OP MANAGERS: APPLY FOR A SCHOLARSHIP TO DEVELOP SKILLS AND KNOWLEDGE

As a professional property manager, taking action to keep yourself up to date and improve your capabilities in new areas can be challenging. Find out how CHF Canada Management Scholarships can help you with your commitment to building excellence in management.

Applications are now available. The deadline for the 2017-2018 academic year is March 1, 2017. For more information contact CHF Canada’s Program Manager, Education Services Rebecca Richardson at rrichardson@chfcanada.coop

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