A housing cooperative is joint ownership in a housing development in which members own a share. Members or share owners are a part of The Cooperative, an incorporated business, which owns the building, land and common areas. The value of the share is based on the size and type of home. Members pay a monthly fee, which is used to cover The Cooperative’s monthly operating costs, including principle, interest, taxes, reserves, maintenance and utilities. Vintage Cooperative of Coralville is operated by its members, through a member elected Board of Directors. The Board of Directors governs policy, forms committees and is responsible for decision-making on behalf of The Cooperative community. Professional management, contracted with Ebenezer Management Services, provides on-site staff, human resource management, accounting services and oversight of day-to-day operations. The Cooperative is an age-restricted community and owners must qualify for membership by meeting the minimum age of 62, income requirements and pass a criminal background check.