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CTC Board: April Update

Dear Neighbors,

Winter is (mostly) over!!! Soon we will be hearing the birds sing, watching the flowers bloom, and gathering with our friends and families to enjoy spring. In this letter we detail the recent actions of the board this quarter.

Annual Member Meeting 2022

The mandatory annual members meeting will be held on April 28, 2022. Residents can expect an email detailing the time and modality of the meeting in the coming weeks.

Rental Rate Increase

There will be a rental increase effective July 1, 2022. Honesty and transparency are key when it comes to this subject. Rent will likely be increasing every year in the foreseeable future. As the University begins work and spend more money on redevelopment plans it will continue to increase the amount CTC is required to pay. It’s never easy decision to raise rent. The management team and the board of directors are committed to doing everything we can to keep rent affordable for all residents current and future. It was proposed and voted on that a new rent increases on a ranged system be adopted for the future.

These new rent increases do not reflect a full 4% as University Requirements were this year. Instead, residence will see between a 2.75% and 3.25% increase (detailed below). We have opted for this ranged system to account for the fact that the university does not plan to invest in some buildings in CTC going forward. This rent increase more on the units that will receive more funds from the University (Phase IV two and three-bedroom units); while rent increases are lower in one bedroom and split level two bedroom units.  

Unit Type Rate Increase Percent Increased
One-Bedroom - Garden Level $21 2.75%
One Bedroom - Upper Level $21 2.75%
Two-Bedroom - Split Level $30 3.00%
Two-Bedroom - Phase IV $33 3.25%
Three-Bedroom - Phase IV $41 3.25%

View FY 2022-2023 Rental Rates and Fee Schedule.

Proposed Changes to the Bylaws

The board of directors reviewed the current bylaws and worked to make improved changes. These will be presented for a co-op member vote in conjunction with the upcoming Annual Members Meeting, April 28, 2022, as emailed in official detail to all residents in March 2022, with the ballot then emailed to the primary resident's primary email address of all co-op membership households (along with the board election ballot) one week prior to the meeting. View overview and redline version of proposed bylaw changes.


Tanner Deeds, Board Chair