Frequently Asked Questions
WHAT IS HOLLIDAY PARK?
Holliday Park Towne Houses Cooperative, is a 693 unit townhouse complex with a paid off corporate mortgage, located in the city of Westland. Holliday Park is an unlimited income cooperative community owned and operated by the people who reside here.
WHAT IS A COOPERATIVE ?
A cooperative is a non-profit corporation that sells shares equal to the number of units on the property. These shares are sold to individuals who qualify and are approved. They are then members of the corporation through the share purchase. The right of occupancy of a unit is all that is represented by the purchase of the stock. You are not buying real estate, therefore individual mortgages are not allowed.
WHAT WILL IT COST TO BECOME A MEMBER?
Since you are purchasing the equity from the departing member, the total cost would depend on which unit you have qualified for, its overall condition, and the pro-rated amounts for any improvements which have been made to the unit.
WHAT WILL MY COSTS BE AFTER MOVING IN ?
You will pay for electricity, telephone, water, and cable (if desired). You will need insurance for your personal possessions and personal liability. In addition, you will be expected to make a monthly payment which we call carrying charges. The carrying charges cover heat, operating costs, maintenance expenses, taxes, and insurance on the property.
HOW IS HOLLIDAY PARK MANAGED?
Holliday Park does business in accordance with Fair Housing Law. All management is conducted on-site. A volunteer Board of Directors is elected by and from the membership. The Board establishes standards and makes decisions to keep the community a pleasant place to live. Committees, made up of residents, supplement the Board by providing voluntary services. Holliday Park residents are encouraged to participate in the community by volunteering.
WHAT IS THE PROPERTY LIKE?
Holliday Park Townehouses has 7 different floor plans. There are ranches with one and two bedrooms, and two story townhouses with two and three bedrooms. Individual townhouses are clustered into 3 to 10 unit buildings, distributed evenly over approximately 55 acres of property. All have private front and back entrances and full basements. There is a large clubhouse, an Olympic size swimming pool, tennis courts, and large green areas throughout the complex.
IS THERE A MINIMUM OR MAXIMUM INCOME I MUST MAKE TO BECOME A MEMBER?
There is no ceiling on the amount of income you can make in order to move into Holliday Park. However, we do have Minimum Income Guidelines that are strictly enforced. Under the Minimum Income Guidelines each applicant may qualify as either a “WORKER” or a “NON-WORKER” but not a combination of both. For example, if your primary income were from a regular job you would probably want to qualify as a “WORKER”. On the other hand, you may be retired or have sufficient income and assets to qualify as a “NON-WORKER”. The choice is yours to decide but understand, your income and credit history will need to be verified and the documents needed to verify income are different for a “WORKER” and a “NON-WORKER”.
WHERE IS HOLLIDAY PARK?
Our property is located on the East side of Wayne road, just South of Joy Road in Westland, Michigan. The business office is located in our clubhouse building, at the entrance of the property. The address of the business office is 34850 Fountain Boulevard, Westland, MI 48185.
WHAT IS THE PET POLICY AT HOLLIDAY PARK?
Animals must be classified as companion animals. Please contact the office for the forms needed to have an approved companion animal.
