Housing cooperatives are among the most economically efficient forms of affordable housing available, according to a recent study sponsored by the Center for Cooperatives at UC Davis. "In times of fiscal restraint, it is important that every public dollar devoted to low- to moderate-income housing be used in the most cost-effective manner," says center researcher Dewey Bandy. In California, he says, there are many advantages to limited-equity housing cooperatives over comparable rental housing. For example, cooperatives give residents a share in the ownership of the co-op and ultimately a stake in their community, according to Bandy. Studies have shown that cooperative housing is better maintained and it reduces the burden on taxpayers. "Despite the advantages, cooperative development has lagged in California in recent years," says Bandy. "The nonprofit housing sector has been reluctant to enter into the field because of inexperience with the development and management of cooperative projects." As a result, UC Davis' Center for Cooperatives is carrying out research and public education programs to help promote the development of new housing coooperatives and to support the operation of existing ones.