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Business View Magazine
pable of living there) in exchange for an initial lump sum
payment and subsequent monthly payments to cover the
ongoing project management fees, and maintenance
and operating expenses. “A life-lease is deemed to be, by
definition, a rental contract in format,” explains Sawatz-
ky. “You pay money upfront – you don’t have to pay rent
while you’re there because you’ve purchased the unit,
but you get most of your money back at the end.” Of
course, Chinook Village residents may also choose to pay
a monthly rental fee, in lieu of life lease, or even combine
the best of both options to suit their financial needs. But
the Village gets no government funding. “The facility is
100 percent, privately supported by the residents,” says
Sawatzky.
Chinook Village is divided into supportive living areas
and an independent side. Peggy Kerr, the Nurse Manag-
er, breaks down the numbers: “In the congregate area,
which is Supportive Living (SL) Level One, we have 103
residents in 94 suites. In Supportive Living Level Two, we
