If we become a Cooperative, who determines the amount of monthly carrying charges?

Monthly carrying charges will go towards paying the park mortgage, property taxes, utilities, insurance, and other services. The cost of monthly carrying charges will depend on several factors, including the annual cost of maintaining the park and the mortgage. The Occupancy Agreement replaces the member’s previous lease agreement with the prior owner. Non-members continue to […]

If we become a cooperative, do we continue to pay rent?

Monthly carrying charges are collected by the cooperative from members, similar to the monthly rents collected by the current park owner, according to the terms of the Occupancy Agreement for the member’s space.

Could a non-resident, third party buy multiple shares?

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.

Who will manage the Franciscan?

A professional property management company under the direction and control of the FRAC Board of Directors, with fully bonded employees.