Springfield Housing Charges & Deposits

Housing charges and deposits (as of September 2011) Unit Type Housing Charge per Month 1 Bedroom Apartment $727.00 2 Bedroom Apartment Small $813.00 / Large $825.00 2 Bedroom Townhouse $904.00 3 Bedroom Townhouse $977.00 4 Bedroom Townhouse $1,039.00 Housing charges are due before the close of business on the first day of each month. Co-operative members vote on the housing charge at the annual General Members Meeting. Each member of the Co-operative must pay housing charges, which are made up of the following: • The membership fee of $15.00 (once only) • Monthly housing charges, less any subsidy • The member deposit, and • Other charges that members must pay under any of the Co-operative’s by-laws. The housing charge does not include the following costs to a member residing in the Seniors’ Apartment Building: • Telephone for a unit • Charges for cable television in a unit • Insurance on a member's personal property, and • The members personal liability insurance The housing charge does not include the following costs to a member residing in the Townhouses: • Charges for hydro • Charges for gas (heat & water heater rental)     Photos & Layouts of Our Units Phase 1 - Townhouses Phase 2 - Seniors' Residence Deposits Members must pay a member deposit to the Co-operative. Members must pay this deposit before moving into their unit, unless the Co-operative allows them to pay it at another time. The Co-operative will not pay interest on the member deposit. • $515 – 1 bedroom Apartment • $575 – 2 bedroom Apartment • $585 – 2 bedroom Townhouse • $625 – 3 bedroom Townhouse • $660 – 4 bedroom Townhouse Returning The Member Deposit The Co-operative will return the member deposit when the member leaves the unit permanently. Before returning the deposit, the Co-operative can deduct any amount which the member owes because: • The member did not give enough notice • The unit was not left in the condition state in Article 5.9 Maintenance and Repair of this By-Law, or     • Telephone for a unit • Charges for cable television in a unit • Insurance on a member's personal property • Water and sewar charges and, • The members personal liability insurance   • The member owes money to the Co-operative         If the Co-operative has to pay for any of these, the cost will be added to the member’s housing charge.         Members may apply to pay a reduced housing charge. The difference between the reduced charge and the full charge is paid by government subsidy to be applied for yearly.

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