Our Society strives to show good stewardship in every aspect of our activities. This also includes good management of financial resources. In 2020, we began to offer a program which we called the Life Lease Program, to give an investment opportunity to residents. A rent reduction is offered based on funds invested by the resident in the Society. Since then, we have had about $5 million invested in this program. Recent events in the news have led us to the decision to rename the program – it is now simply called the Rent Reduction Program. All other aspects of the program remain the same – in return for an investment by a resident of between $20,000 and $500,000, a rent reduction is calculated and applied to each month’s rent. Funds can be added or removed at the resident’s request, and the investment is terminated when a resident moves out. The Society uses these funds to reduce reliance on bank financing for our long-term debt.
If you have questions about this program, or would like to participate, please contact Henry Baker, Director of Finance, at 780-478-3063 or by email at finance@emmanuelhome.ca.
