Colusa, Cal., Code of Ordinances ch. 22 § 22-2

For the purposes of this chapter, the following words and phrases shall have the meanings respectively ascribed to them by this section:
Eligible tenant. Eligible tenant shall mean any tenant who was a resident of the project proposed for conversion or eligible as a special category tenant on the date the use permit request was filed.
Low income. Low income, when used by itself or as a modifier of person or household or other term shall mean eighty percent or less of the median income as established annually by the U.S. Department of Housing and Urban Development for the Sacramento Standard Metropolitan Statistical Area as adjusted for the number of members of the household.
Moderate income. Moderate income, when used by itself or as a modifier of person or household or other term shall mean eighty percent through one hundred twenty percent of the median income as established annually by the U.S. Department of Housing and Urban Development for the Sacramento Standard Metropolitan Statistical Area as adjusted for the number of members of the household.
Unreasonable rent increase. Unreasonable rent increases refer to increases in rent that substantially exceed the housing component of the Housing and Urban Development's Fair Market Rate on an annualized basis and which cannot otherwise be justified by costs of physical improvements to the building or site, repairs for damage, taxes, or other expenses attributable to the operation of the building, or by changes in the market demand for rental housing.
Building of similar size. All residential buildings with two, three, or four dwelling units shall be deemed to be of similar size. All residential buildings with five or more dwelling units shall be deemed to be of similar size.
Condominium conversion shall mean a change in ownership of a parcel or parcels of property, together with structures thereon, whereby the parcel or parcels and structures previously used as rental units are changed to ownership.
Stock cooperative is a corporation owned by residents through shares, the corporation in turn owns the housing complex. The shareholder-owners have the right to exclusive long-term leases in specific individual units of the complex instead of direct ownership of the units. The common property adjacent to the units is also owned by the corporation, with the shareholder-owners enjoying the right to use the area.
Uniform Fire Code (UFC). The most recently adopted code approved by the city council.
Uniform Building Code (UBC). The most recently adopted code approved by the city council.
Community apartment project. A community apartment project is defined as follows:
(a) Project in which an undivided interest in the land is coupled with the right of exclusive occupancy of any apartment therein (Business and Professions Code Section 11004).
A community apartment project is essentially identical to a stock cooperative. In both, the purchaser obtains an undivided interest in the real property directly or indirectly. Each form of ownership includes rights of use of the common areas, each includes exclusive occupancy right to individual units, and each includes certain additional rights and privileges identical to those of condominium owners. They differ primarily in that the residents, as a group, own the premises in the community apartment project, rather than through a corporation in the stock cooperative form. In addition, the community apartment project is specifically mentioned in the Subdivision Map Act, whereas the cooperative is not specifically mentioned.
Condominium. A condominium is an estate in real property consisting of an undivided interest in common in a portion of a parcel of real property together with a separate interest in space in a residential, industrial or commercial building on such real property, such as an apartment, office or store. A condominium may include in addition a separate interest in other portions of such real property. Such estate may, with respect to the duration of its enjoyment, be either (1) an estate of inheritance of perpetual estate; (2) an estate for life; or (3) an estate for years, such as leasehold or a subleasehold.
As used in this chapter unless the context otherwise requires: (1)
"Condominium" shall mean a condominium as defined in Section 783 of the Civil Code.
(2) "Unit" shall mean the elements of a condominium which are not owned in common with the owners of other condominiums in the project.
(3) "Project" shall mean the entire parcel or real property divided, or to be divided into condominiums, including all structures thereon.
(4) "Common areas" shall mean the entire project excepting all units therein granted or reserved.
(5) "To divide" real property shall mean to divide the ownership thereof by conveying one or more condominiums therein but less than the whole thereof.
Stock cooperative. A stock cooperative is defined as follows: A "stock cooperative" is a corporation which is formed or availed of primarily for the purpose of holding title, either in fee simple or for a term of years to improved real property, if all or substantially all of the shareholders of such corporation receive a right of exclusive occupancy in a portion of the real property, title to which is held by the corporation, which right of occupancy is transferable only concurrently with the transfer of the share or shares of stock in the corporation held by the person having such right of occupancy. (Business and Professions Code Section 1103.2)
Stated more simply, cooperative residents own shares in a corporation which owns the housing project, and the shareholders/owners automatically are entitled to exclusive long-term leases in specific individual units in the project. The common areas are also owned by the corporation, rather than the residents, but with rights of use by the shareholder/owners.