See EBPREC Bylaws as a primary reference

OBJECTIVES

1. Landback + Transfer of Ownership: The building will be owned by Still Life, with the founding intention to transfer ownership/stewardship to Kanatsiohareke Mohawk Community (KMC) by 2030 - specific terms to be decided in cooperation with KMC.
   1. Still Life (Seb) will remain a resident-owner if in the group’s best interest. Otherwise, goal will be to exit and recoup equity.
2. Permanent Affordability: The founding intention will be to remove this property from the "market", protecting both the building and the underlying land from profit-driven speculation, and maintaining its program as affordable housing and shared community use.
3. Redistributive Profits: Any surplus profits (from rent) will be captured and distributed to → direct operating costs (ex: property tax, insurance) → Still Life employees (labor-hours) → co-owners (equally).

STEP 1: REMOVE PROPERTY FROM SPECULATIVE MARKET

• Option 1: Gift to Mohawk Valley Collective, with proviso that property cannot be sold.
• Option 2: Create a dedicated Community Land Trust

STEP 2: CRITERIA FOR TENANTS

• Tenants will not earn more than 120% of the AMI, which is $47,000.
• Tenants will pay approximately 20% of their annual income for rent (ex: 20% of AMI is $780/month)
• Native Americans, Black, and immigrant tenants will receive priority. To avoid discrimination policies, select tenants based on personal relationships rather than public listings.
• Tenants interested in long-term residence + participation in a cooperative living model will receive priority.

STEP 3: MEMBERSHIP + DECISION-MAKING

• Types of co-op members (adopted from EBPREC): Resident-Owners, Community-Owners, Investor-Owners