The Limited-Equity Cooperative Task Force is being created to provide the District of Columbia Council with policy recommendations on how the District can help in the formation of new limited-equity cooperatives (LECs) and help existing LECs succeed. (DC Act 22-338, the Limited-Equity Cooperative Task Force Act of 2018)
Generally, a cooperative is an association organized in order to own and operate residential property. Cooperative members/shareholders are entitled to live in the property based on the terms of a proprietary lease or occupancy agreement.
A “Limited-equity cooperative” is one in which a government agency or nonprofit organization limits the resale price of membership shares in order to keep the housing affordable to incoming low- and moderate-income members.
The task force will consist of at least 11 members, including representatives from DHCD and the District of Columbia Housing Finance Agency (DCHFA). Other members will consist of District residents who are LEC board members; community-based organization representatives; and legal, real estate, financial, and research professionals with experience in working with LECs. Task Force members will not be compensated and must either work or live in the District.
The Chair of the Committee on Housing and Neighborhood Revitalization will appoint the task force chair.
It is anticipated that task force members will be appointed in mid to late September 2018. Within 180 days of their appointment, the task force will provide the Council with a comprehensive report on policy and legislative recommendations, to include: (1) funding options and sources to assist in the formation of new LECs and to provide technical support and assistance to LEC members and boards; (2) how to establish appropriate government oversight to ensure that LEC boards have the necessary financial and structural management resources to succeed and prosper; and (3) other identified needs or requirements.
For information on Limited-Equity Cooperative Task Force meetings see the links below.
The 2018-2019 District of Columbia Limited Equity Cooperative Task Force Reports
Can be viewed as attachments at the bottom of this page.
October 30, 2019
August 28, 2019
May 22, 2019
- April 24, 2019
- March 20, 2019
- February 27, 2019
- January 30, 2019
- December 12, 2018
- November 28, 2018
- October 17, 2018
- September 19, 2018