All Members of the EBHC have to pay a Membership Fee and a Damage/Loss fee in order to join the cooperative. (EDITED 3.16.2020)
The Membership Fee (90 Day Process) will consist of at least two (2) House & Grounds meetings, two (2) Membership meetings, one (1) Management meeting, two (2) General Membership meetings, two (2) Work Parties or priority tasks with another Member, and $0.05. All to be completed within the first 80 days of living in EBHC. (EDITED 3.16.2020)
New Members will be given a special form which committee co-coordinators and GM facilitators will sign off on, confirming attendance at meetings or work parties. This form will note the date of their 60-Day review and the end date of the 80-day probationary period. The new Member should be prepared to present this form at the first Membership Committee meeting after their first 60 days. ***ADDED 3.18.2020
The Damage/Loss Fee is set at $500 and should be paid in full at the time the New Member moves in. $100 of the $500 Damage/Loss Fee is due within 24 hours of General Membership approval of the new member. If the new member decides to decline becoming a member after General Membership approval has been made, the $100 is non-refundable. If the new member does become a member after General Membership approval, the $100 will be applied to the total $500 Damage/Loss Fee that is due, and is potentially refundable. A copy of this policy will be included with the application materials, and will be pointed out to applicants.
EBHC asks for at least a 1 year commitment. If for some reason a Member leaves EBHC before this first year is up, their $500 Damage/Loss Fee is forfeit, they get none of it back. However, the 80 Day Probationary period of New Members allows the EBHC General Membership to terminate the new membership for “cause”, allowing the Damage/Loss Fee to be refunded in part, or in full with consideration of possible damage repairs or cleaning costs.
The Membership Fee is an important part of a member’s sense of ownership and investment in the property. We all have our money invested in our housing. If the co-op fails, then we all lose. Our input and caring are needed to protect our financial interest in our housing. (EDITED 3.26.2020)
The Damage/Loss Fee is used to protect the Cooperative. When a Member wishes to retire from/leave the Co-op, the Damage/Loss Fee is returned most times in full. However, the Co-op can deduct money for:
Damage caused to unit by the Member.
To clean a unit left dirty by the Member.
For unpaid utility bills.
For unpaid carrying charges (the Damage/Loss Fee may NOT be used to pay the last month’s carrying charge.
*If a New Member does not have $500 at the time they move in, a payment plan may be made. With the initial $100 paid within 24 hours of the New Member being selected for Membership, an additional $150 is due upon move-in, with two successive months of payments of $125 each month, effectively paying the remainder of the Damage/Loss Fee in full. [11-3-13]
A payment plan may also be made for the Pet Deposit if a New Member does not have the total amount. $250 Pet Deposit may be paid in three (3) monthly installments; $100, $75, $75. All Pet Deposits must be paid within 80 days of the pet moving in.