Starting a Co-op

[yellowbeezus]

Florida

Myself and a few other people are interested in starting a housing co-op in Tampa, but I don't know of any existing ones here that would provide a good model to work from. I know these aren't very common in the South. Do you know of a bank that is willing to work with co-op mortgages. When applying for a shared loan, do all the shareholders need to be present and financially assessed? Also, could you tell me what are the tax benefits for co-op shareholders in Florida, and are there any low-income housing grants for starting a co-op and/or refurbishing a vacant building for this purpose?

 

[HomeGuru]

Florida

Myself and a few other people are interested in starting a housing co-op in Tampa, but I don't know of any existing ones here that would provide a good model to work from. I know these aren't very common in the South. Do you know of a bank that is willing to work with co-op mortgages. When applying for a shared loan, do all the shareholders need to be present and financially assessed? Also, could you tell me what are the tax benefits for co-op shareholders in Florida, and are there any low-income housing grants for starting a co-op and/or refurbishing a vacant building for this purpose?

**A: this is not a do it yourself kinda thing.