A historic opportunity to make this park our own!
The by-laws state that only a resident or residents of a single household of the park can purchase membership interest. A partnership, corporation or any third party is NOT permitted to trade in membership interests. This safeguard in the by-laws is designed to prevent an outside party from attempting to acquire the park.
A portion will fund the transaction costs and will be used to close the NCB loan.
Yes. A portion is refundable according to the terms of the Membership Agreement.
A professional escrow company holds the funds according to the terms of the Membership Agreement until the National Cooperative Bank is ready to close.
Only one membership per space and one vote per membership.
A professional property management company under the direction and control of the FRAC Board of Directors, with fully bonded employees.
Franciscan Resident Advisory Committee, A California Non-Profit public benefit corporation, established August 6, 2010. (FRAC)