With more information, the core group is better positioned to make more decisions and finalize preparations for incorporation.
Before incorporation, you’ll need to decide between an equity or non-profit model and develop an appropriate incorporation package. If you haven’t done so already, now is the time to settle on an available legal name for your co-op.
At the beginning, your co-op’s need for policies (beyond the rules established by legislation or the co-op’s formal Rules and Occupancy agreement) is minimal. But you may want to put some effort into thinking what policies you’ll need later on. Are you planning to have a non-smoking building? Allow pets? Restrictions on entry to the co-op based on finances? Clarifying these ideas now may save you trouble later. CHF BC members can access model policies on our website.