Viability of Our Co-op

Our co-op is on the brink of bankruptcy. Our Capital Reserves are depleted and we are presently being monitored by the co-op sector. We, the members, are not being informed as to whether or not our co-op will be re-financed, or whether we'll cease to exist as a co-op. We have many vacant units, some sitting empty for years. We've been told that there is no money to fix them up. Ironically though, over the past few years certain member's units have been completely renovated with new windows, flooring, bathrooms, kitchen cupboards, appliances, while other members must continue to live in substandard conditions. One can say that our co-op will soon be divided into the 'Haves and Have Nots'.

We have a huge mold problem in the co-op. It has been recommended that our siding be replaced as mold spores on the underside are permeating the walls into the units. Many units have rotting moldy wooden windows. A Building Assessment Audit was recently done to determine the condition of the buildings. The members have not been apprised of its findings, but I was informed about one aspect of the recommendations, which indicated that the windows only need a coat of paint. This in essence means that members who live in units where the windows and doors have been replaced live in relative comfort, while other members may be forced to live with rotten windows for another ten or fifteen years. Not an equal sharing of co-op's resources to my mind. We also have carpenter ants in the co-op, which have eaten through window sills, wooden supports in the basements and the balconies as well. I have no idea if this problem was flagged in the Building Assessment Audit, or if anyone with a knowledge of maintenance issues in our co-op was even consulted before the walk around.

So that's the physical side of our co-op. Then there's the social atmosphere side and volunteerism. There are cliques in our co-op. The disdain of some cliques for the others has partially led to the shattering of the social atmosphere. There are those members who have volunteered a great deal in the past and have simply given up and then there are members who've never participated and never will.

I sometimes think that our co-op should be dissolved and amalgamated with the City's non-profit units. But then there's a tugging at my heart which says NO.