Village Cooperative of Lakewood

Key facts from Village Cooperative of Lakewood's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Village Cooperative of Lakewood

Developer / declarant

Village Cooperative of Lakewood, a Colorado cooperative corporation (Preamble)

Governing law

Colorado Common Interest Ownership Act (C.R.S. 38-33.3-101 et seq.) and Colorado Cooperative Act (C.R.S. 7-56-101 et seq.) (Preamble)

Assessments & dues

Board adopts annual budget; each Member pays 1/12 of proportionate share based on Common Expense Allocation Percentage from Exhibit C (Section 9)

Special assessments

Cooperative may levy assessments as described in C.R.S. 38-33.3-315 and 38-33.3-316 (Section 9)

Collections & liens

Cooperative may levy a Maintenance Assessment for cost of correcting violations after 30-day notice (Section 15.1)

Reserves & fees

Mentioned as 'reserve for replacements' for certain items (Section 10.1.2, 10.1.3(d)); no specific funding requirement stated (Section 10.1.2, 10.1.3(d))

Pets

Allowed only in accordance with applicable law and the pet policy adopted by the Board (Section 12.2)

Leasing & rentals

Lease or rental of a Dwelling Unit for purposes consistent with the Declaration is permitted (Section 12.1.3)

Home business

Allowed if incidental to residential use, does not invite regular client visits, and does not alter residential character (Section 12.1.4)

Maintenance

Cooperative (part of exterior of all Dwelling Units) (Section 10.2)

Insurance

Casualty insurance on Cooperative's building including common areas and Dwelling Units; general liability coverage; workers compensation; and any other appropriate insurance (Section 11.1)

Use restrictions

All Dwelling Units restricted exclusively to residential use (Section 6)

Voting & meetings

One vote per Dwelling Unit; allocated to Members occupying each unit (Section 5)

Amendments

Affirmative vote of Members entitled to cast at least 67% of votes; also requires joinder of Cooperative for amendments affecting certain Declarant rights; may be waived by recording (Section 13)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.