Newsletter # 10 –November 2017
Welcome to our 10th Newsletter.
Our next public information meeting is as follows:
Rendez-Vous Estates Information Meeting For You
Open to the Public – All are Welcome!
When: Wednesday November 29, 2017 @ 7 P.M.
Where: CClub des Blés d’Or Hall – 1254 Dawson Rd, Lorette
Since our last public presentation on October 10, we signed a discussion paper with Assiniboine Credit Union. The document outlines conditions that are required before construction can begin. Our committee is working hard to ensure our project meets those conditions very soon.
We were pleased to receive a new Appraisal Report for our project that indicated a $14,100,000 market value. The construction budget is set at $13,500,000. We instructed our lawyer to proceed with amending and re-registering our Offering Statement, which recognizes the changes to Rendez-Vous Estates. Changes include such items as downsizing the project from 50 to 41 suites, lower construction budget and operating forecast, and the selling of Membership Shares at $110,000. Once the Offering Statement is registered, we will request all residents re-sign new documents that reflect all of these changes. We are hopeful the new documents will be re-signed by our next presentation of November 29th.
Our project partners ReSolve Group, Verne Reimer Architecture and Pretium Builders are waiting for us to give them the green light for construction. The plan is to commence construction in December 2017 by initiating site preparation of digging and re-locating the top soil. The next step of pile drilling and installation will be in February 2018. These steps will ensure the project is well underway before the spring thaw.
Our Marketing committee is pleased with the public response. We continue to receive inquiries for Rendez-Vous Estates from a variety of local seniors, and from outside of the RM of Tache. Snowbirds who are leaving for the winter, are making arrangements with us to ensure they do not miss out on their suite.
Since our last meeting, we received a strong and positive response for the newly announced optional plan for residents who wish to lower their monthly occupancy fees. Residents who are selling their homes, have to decide where to invest the surplus sale proceeds. Rendez-Vous Estates Occupancy Fee Reduction Plan provides you with an attractive option. Funds will be required no later than the resident’s move in date.
Occupancy Fee Reduction Plan (Optional)
- Residents interested in reducing their monthly occupancy fee, can request the optional Occupancy Fee Reduction Plan. The amount will be based on the invested amount @ the current Rendez-Vous Estates Mortgage interest rate. The calculated amount will be applied to the monthly occupancy fee as a reduction.
Rendez-Vous Estates Mortgage Interest Rate @ 4.5% Resident deposits $100,000, Calculation: $100,000 @ 4.5% = $4,500 / year The resident’s monthly occupancy fee is reduced by $375 (See fee table on next page)
- Reduced monthly occupancy fee
- Return on investment much higher than offered by your financial institution
- Tax Free Investment
- 100% refundable when you vacate the premises
- More detailed information will be presented at the October 11 meeting
41 SUITES – REVISED ESTIMATED MONTHLY OCCUPANCY FEES
REVISED PROJECT DEVELOPMENT BUDGET COSTS
Accepting Resident Waiting List Deposits of $1,000 (Refundable) and Selling $110,000 Membership Shares. Interested in selecting your new suite?
Contact us at Info@rendezvousestates.ca or
phone Leo @ 204 961-1442.
Membership Share Purchase
At the Co-op’s request, Caisse Financial Group in Lorette, developed specifically for our residents, a financial package to facilitate the purchase of a Membership Share: A Take Out Equity Mortgage for residents who wish to use the equity of their home for the purchase of their Co-op Membership Share, along with other benefits. No payment required to a maximum of 20 months; only a lump sum payment upon receipt of sale proceeds from the sale of your house.
Should you require further information, please do not hesitate to contact myself or anyone on the Steering Committee.
Taché Seniors Non-Profit Housing Cooperative Inc. Info@rendezvousestates.ca
Chair: Leo Desmarais ph- (204) 961-1442 Email: email@example.com
Vice-Chair: Larry Desaulniers ph- (204) 809‐9247 Email: firstname.lastname@example.org
Treasurer: Roger Prévost ph- (204) 878‐3675 Email: Roger@calpen.com
Secretary: Eveline Foisy
Jacques Champagne Michelle Trémorin
Susan Desaulniers Jacques Lavack
Robert Toutant Céline Petit
C.D.E.M.: Christian Fais
Project Dev. ReSolve Group
Architect: Verne Reimer Architecture
Legal : Alain Laurencelle, Kristen Wittman – Taylor McCaffrey
Accountant: Talbot & Associates