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Gramercy Park Cooperative of Eagan opened its
doors in April of 2001. Members moved in over
the next few months and soon were involved in
the many social activities and were making
friends with their new neighbors. After several
months governing authority was transferred from
the developer and the members began making
decisions on all aspects of their new home
 Our Philosophy
Gramercy Park Cooperative of Eagan is a
community inspired by the tradition of
common-interest communities formed by Samuel
Ruggles in the Gramercy Park neighborhood of New
York City in 1831. His vision included the
creation of a neighborhood maintained and
enjoyed by resident-owners. We enjoy a close
community of friends based upon a common
purpose. We especially hold to the values of
self-help, responsibility, democracy, equality,
equity, and solidarity. Learn more about cooperative
housing.
Financial Obligations
For
Gramercy Park Cooperative of Eagan the monthly
charge includes the mortgage payment, real
estate taxes, operating expenses, lender
required reserves, interior and exterior
maintenance, sewer, water, trash pick-up,
recycling, cable television, underground heated
parking, heat and electricity. The monthly
charge for Internet usage and telephone bill are the only two
bills that residents pay.
Ownership
Members own shares in the non-profit corporation
that holds title to the building. The monthly
charge covers operating expenses, including the
mortgage payment. Monthly charges increase only
when the board of directors determines that
taxes or operating costs justify an increase.
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