Professional Documents
Culture Documents
(Being paper presented for publication by the BUILDING QUARTERLY - June 2004)
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ABSTRACT
inability and ineffectiveness of both the public and private sectors to meet
the housing needs of the populace. As a result of this, any lasting solution
success.
housing delivery. The essential features of the concept are discussed and
environment.
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INTRODUCTION
multidimensional solutions.
slum housing. Many Nigerians cannot afford decent homes. They live in
housing stock through the construction of housing estates and through its
These measures have done little to address the situation. On the other
hand, houses provided by the private sector operators are out of the
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movement should be given a closer look. Oduwaye (1998) posits that the
the people.
this, the paper looks at the structure, types and benefits of the system;
and goes further to evaluate the impact of the system in Australia and the
realities
METHODOLOGY
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modalities for funding, peculiarities of Implementation, planning
own their building, democratically control it and receive the social and
stockholders.
OPERATIONAL FRAMEWORK
following format:
all land, dwelling units and common areas. Its tenant stockholders, who
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The tenant-stockholder purchases stock (sometimes called shares or
occupancy agreement that gives him a legal and exclusive right to occupy
cooperative
ACQUISITION OF PROPERTY
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TYPES OF HOUSING COOPERATIVES
tenant-stockholder
limits the returns allowed when shares are sold. The amount of return
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8. Short Life Cooperatives: which are designed to accommodate the
They usually come together to support one another and have the
membership
BENEFITS
equity; hence the value of the property appreciates with time. Even
persons ineligible for personal mortgage can buy into a limited equity
the corporation is responsible for real estate taxes and mortgages. Buying
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Social advantages of the cooperative housing scheme include democratic
being admitted.
DATA DISCUSSION
boost in the past two decades especially since its tenets have been
modeled after that of Canada. Its major objective is to provide decent and
control.
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Variants of housing cooperatives presently operate in Australia.. The
below
retains title and grants a head lease to the cooperatives. Tenants, who
must fall within a certain income bracket, then take a sublease from
the cooperative.
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owned by all tenant-stockholders, who are entitled to the use of the
the 1960s and 1970s; and then into local non-profit organizations using
Housing cooperatives were not well established in the United States until
gives them the opportunity to take responsibility for their actions and
bear the consequences of such actions on the cost and quality of their
housing.
following:
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i. Mutual Housing Association Is a non-profit corporation set up to
the 1918 and was organized as self-help groups for urban workers.
unions.
act. This act was the first large-scale government programme available
iii. Market Rate Cooperative: in 1955, the New York State Limited Profit
income loans financed by the State Revenue bonds. With the advent of
privatization, limited equity coops had a 20-year limit after which they
stocks at full market value of the original sale and permits a market
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iv. Leasing Cooperative: During the 1960s, in the aftermath of World
purchase.
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COOPERATIVE ii. Leasing Cooperative iii.Community Settlement
iii. Limited Equity Cooperative
Cooperative
iv. Market Rate
Cooperative
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SUCCESS Over one million 975,480 Australians live in
Americans live in cooperatives. The growth of
housing cooperatives. cooperatives in Australia has
17% of the total number been erratic over time in
of rent-reduction that it appears to be
housing units in America stimulated by natural
are cooperatives. Its economic trends, legislative
growth has been changes, social conditions
attributed to the high and initiatives of various
government support it other institutions
gets through legislation
and direct funding and
in recent times,
privatization
as obtaining loans (aajo and esusu) from the local cooperative saving
negligible.
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APPLYING THE COOPERATIVE PRINCIPLE TO CONTEMPORARY
HOUSING PROVISIOON
to own a house.
there is the need for a revolutionary and radical strategy involving non-
this alternative.
encourage the use of local building materials and direct labor in the actual
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The experience of other countries has shown that public enlightenment is
functions:
iii. Prepare layout plans for the schemes, bearing in mind minimum
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c. Providing financial concessions , by way of tax rebates,
sector involvement
Apart from the fact that the principle of cooperatives is inherent in most
renewed hope for the average Nigerian in his quest to attain home
ownership
BIBLIOGRAPHY
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- Co-op Home Page http://www.ncba.coop/houisng.cfm
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