3033 16th St NW APT 119, Washington, DC 20009

SCHEDULE A SHOWING ONLINE AT: showmojo.com/lh/ae4021d02d TXT 202-759-7678 to Schedule a Viewing. How do I apply? Copy this link for the application: Model Unit #119: Claiborne Coop Application: Claiborne Coop Membership Orientation: The Claiborne Cooperative Association, Inc. at 3033 16th St NW. - Studio Efficiency Coop Membership Available Interested in become a member of the Claiborne Cooperative Association? Here is some information that will be helpful to know as you fill out your application. The Claiborne is a 92-unit building located in Columbia Heights. Our building is collectively owned by the members of the building. No pets, 2 person limit for studio occupancy. What is a limited equity cooperative? A limited equity cooperative is form of multi-family housing that offers residents both affordability and management control. Residents own a share in the co-op and pay a monthly carrying charge that covers their portion of the operating costs of the co-op. It is a "limited equity" co-op because, even though shares increase in value each year, this amount is restricted to ensure that shares remain affordable for future residents as well. What is the difference between living here and at another rental building? The main distinction between a housing co-op and rental housing is that in a co-op the household owns one share in the co-op corporation. This share gives residents the right to live in a specific unit (this is established through an occupancy agreement) for as long as they want, provided they follow the rules or regulations of the co-op. As part of their membership, each member also has a vote in the affairs of the co-op. Members make decisions collectively. In our case, we decide on the general rules and regulations of the Cooperative and collectively make major decisions. All members elect a Board of Directors from the current membership to represent the interests of the Cooperative. We rely on our management company, EJF Real Estate Services, to take care of the day to day operations of the building. We currently have an on-site engineer that handles maintenance issues. Members are expected to attend membership meetings from once a year to once every three months, abide by the House Rules, Bylaws and Occupancy Agreements; and actively participate in decisions about the cooperative. How do you become a member? If your application is accepted you will sign an occupancy agreement and receive a membership certificate. An Occupancy Agreement is different than a lease in that it has no limit to the time period of living on the premises. Ideally, members would be seeking to move in and stay indefinitely in their unit. A number of families in our building have lived here between 10 to 40 years. What is the membership fee? A membership fee is the amount a person pays to join the Cooperative. Currently, the membership fee is equal to one month's carrying charge (known as security deposit in rental buildings). Are there any income restrictions? Yes, households applying to live in our cooperative must make below 80% Area Median Income. And the household income of members must be spread among the below income bands. INCOME BAND 1 person2 person3 person4 person 0 - 30%22,53325,75228,97132,190 31 - 50%37,55542,92048,28553,650 51 - 80%60,08868,67277,25685,840 HIGHEST INCOME BAND CURRENTLY UNAVAILABLE, ALL 51%-80% INCOME STUDIOS HAVE BEEN RENTED What will the carrying charge be every month? Carrying charge can be different for each unit. The carrying charge will be affordable at each income level. Efficiency ( 2 Occupants Max)-- Ranging from $564 to $1,140 You can apply by filling out the attached application and submitting it to EJF Real Estate Services at 1428 U Street NW, 2nd Floor. All individuals 18 years old or older applying to live in the building must fill out an application. An application will not be processed if it is not complete. Please refer to page