This Agency article highlights the significance of a capital replacement reserve plan for housing co-operatives. It explains the components of the plan, its costs, and how to address an underfunded reserve. The article explains the need for regular updates to the plan and the importance of annual contributions for maintaining the financial health of the co-op.
Topics include: Capital replacement reserve plan, determining annual contributions, cost of developing a plan, getting started, implementation, underfunded reserves, and co-op’s well-being