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Is there a maximum income ceiling to qualify for a co-op?
Submitted by firstname.lastname@example.org on February 2, 2011 - 12:10pm
If you go to our Co-op Programs info page, you will see that non-profit housing co-ops are funded by different government programs, depending on when they were first developed. The co-ops that have income ceilings are funded under one of the following programs:
- Section 61
- Homes BC
- Six BC co-ops funded under the Federation Co-operative Housing Program (ILM) have income ceilings. These co-ops were developed in the last year of the ILM program, around '92-'93
The dollar amount of the income ceiling varies. Other co-ops, as far as we know, do not have income ceilings.