J.P. SQUIRE 2009-12-20 Kelowna Daily Courier:
The Jennings-Ladd family is looking forward to finally moving into a new home. Scott Jennings, Shyla Ladd and their four children, who range from six to 13 years of age, are involved with Project Build II. For many would-be home buyers, saving the down payment required to buy a house is an almost unattainable goal, even if those would-be home buyers could afford the monthly mortgage payments. So the Central Okanagan Foundation and its partners have stepped in with $1.35 million. Thirty families or individuals like the Jennings-Ladds will receive a non-repayable grant of $45,000 toward the purchase of a home in the Sageglenn development on Chase Road in Lake Country. “The need for attainable housing in the Okanagan has been here for awhile,” said Leanne Hammond Komori, the foundation‘s executive director. “Working with Canada Mortgage and Housing Corporation, there will be an opportunity for many of these homeowners to apply for a non-repayable second loan of $24,000 to put in secondary suites, providing an income stream and affordable rental housing in a market which cannot meet its present demand.” “Project Build II has opened up new possibilities for our family,” said Jennings. “Thoughts of a new home have our family very excited for Christmas and the New Year.” Two weeks ago, after finding out about their lot, “Shyla and I drove up to the site, sat right in the middle of our lot and dreamed of what was quickly becoming a dream come true,” said Jennings. “So much more is still to come; 2010 will most certainly be bigger than the Olympics to our family.”
When the project was first announced, the foundation suggested a total of 20 lots with homes in the $400,000 range. However, the number has now climbed to 30 with the support of trades people, led by Rob Anderson of Built-Rite Homes. Ground has already been broken on the first lots. “This is a pilot project with interest expressed by many sectors of the community who wish to provide attainable housing throughout the Okanagan,” said Komori. “Lake Country is very pleased to be participating in Project Build II which provides a great opportunity for people to obtain quality family housing who need help with the down payment,” said Lake Country Mayor James Baker. “Applicants truly represent who is actually living in the Okanagan and contributing to the health and wellness of this region,” added Mary Jo Schnepf, a foundation director. “We have single dads raising their children, young families, families with teens and families with special needs. An overriding feeling of this project is that of being grateful.”
Even those who were not selected in the first round of applications expressed whole-hearted support for the project, she said, “and thanked the team for making this happen – even if it didn‘t work out for them.” The partners in the project are: the foundation, Sageglenn Developments, Build-Rite Homes and its trades, The Property Source Group, TD Bank, Canada Mortgage and Housing Corporation, and the District of Lake Country. The deadline for applications is noon on Jan. 15. More information is available at thepropertysource.ca or centralokanaganfoundation.org. Grant application forms can be downloaded from the websites or hard copies can be obtained from: the Central Okanagan Foundation, 217-1889 Springfield Rd., Kelowna; the District of Lake Country, 10150 Bottom Wood Lake Rd., Lake Country; and The Property Source Group – MacDonald Realty, 592 KLO Rd., Kelowna.
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