evergreen cooperative - BAIO Blogs - Black Afrikan Infrastructure Organization Social Network2024-03-29T12:46:14Zhttps://baioafrikstan5.ning.com/blog/feed/tag/evergreen+cooperativeOwn A Home In Just 4 Yearshttps://baioafrikstan5.ning.com/blog/own-a-home-in-just-4-years2015-08-25T14:45:43.000Z2015-08-25T14:45:43.000ZTeam Afrikahttps://baioafrikstan5.ning.com/members/TeamAfrika<div><p><a href="http://storage.ning.com/topology/rest/1.0/file/get/2042106?profile=original" target="_self"></a></p>
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<p><a rel="nofollow" href="http://www.yesmagazine.org/issues/the-debt-issue/own-home-four-years-evergreen-cleveland-20150824" target="_blank">Own a Home in Just Four Years? This Co-Op Program Keeps Workers in the Neighborhood</a></p>
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<p>Alex Cedeño quit renting two years ago. Now, he has just two years left until he owns his own home. And it’s all thanks to his employer, Evergreen Cooperatives.</p>
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McMicken sees the home-buyers program as a win-win-win.
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<p>Evergreen started this unique home-buyers program three years ago. Today, nearly half of its worker-owners have purchased homes through the program. Home ownership was unlikely for them before; many have bad credit or criminal records. Cedeño simply couldn’t afford the traditional route, which would have meant a down payment—and debt. “I didn’t want to have debts so large,” he explains, “so this opportunity came, and I took advantage of it.”</p>
<p>The cooperative accomplishes this by selling formerly foreclosed or boarded-up homes in Cleveland neighborhoods. This keeps worker-owners close to work and allows them to contribute to Cleveland neighborhoods’ revitalization. Today, nearly half of Evergreen’s worker-owners have purchased homes through the program. Cedeño’s house is in Glenville, a neighborhood where two sectors of the cooperative are located. Through weekly payroll deductions and property tax abatement, these $15,000 to $30,000 homes are theirs within four to six years. Cedeño calls his <em>maravilloso</em>, or wonderful.</p>
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