1415 Girard Street NW Cooperative Association

The1415 Girard Street Cooperative was established in 1950 to secure permanent affordable housing by converting a rental building into cooperative homeownership. In 1992, with the support of the Development Corporation of Columbia Heights (CDC), the cooperative was restructured and the units were renovated and sold to new owners.  Subsequently, inadequate property management, deferred maintenance and changing demographics helped to push the cooperative toward financial insolvency. Now due to revitalization, the community has become more popular and housing prices are soaring. Last  year, the cooperative received pro-bono legal assistance from the law firm of Greenberg Traurig, who in turn, assisted in identifying a new management company. In an innovative partnership possible because of our unique ownership structure, City First Bank and its affiliate, City First Enterprises, teamed up to provide financing.  City First originated a $490,000 bank loan and an additional $535,000 in the form of a recoverable grant, was provided by City First Enterprises. The funds were used to refinance an existing loan and to renovate vacant units for sale on the open market. The City First financing allows the cooperative to continue operations, balance and diversify its ownership, bring in much needed revenue to the cooperative to support its operations and preserve 20 units of owner occupied affordable housing.

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Security Notice for Windows XP Users

As you may already know, on April 8, 2014 Microsoft will stop issuing security updates to Windows XP. This means that after April 8, 2014 there will be a substantial security risk to anyone using this operating system, since security vulnerabilities will no longer be patched. If you are currently using Windows XP please take note of this. Although this will not cause an interruption to any of the service we provide our customers, continued use of a computer utilizing Windows XP could place your devices and the information on them at serious risk. We encourage you to learn more about this upcoming cessation of service by Microsoft and to become informed on what you will need to do to secure your information.

To learn more we suggest you visit:Microsoft XP Support Ends at http://www.microsoft.com/en-us/windows/enterprise/end-of-support.aspx

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