The Project has been developed as a Life Lease project. This arrangement provides the benefits of renting along with the privileges of ownership. The Life Lease concept is explained in detail later in this brochure. The Board of Directors of the corporation comprises of concerned citizens and residents of the Villa. The Board of the Villa serves on a philanthropic nature for the life of the Project.
Directors receive no financial gain nor income from their position.
This Project was developed as a community service responding to the needs of citizens in the community. The development provides the benefits of Not-For Profit housing to Seniors who are not eligible for subsidized rents. These are people, who through family changes, or the burdens of house maintenance, no longer need or desire to live in a traditional single family home. Life Lease residents purchase a Lease which may be later terminated by the resident with 90 days notice. The money invested in the Life Lease is used to reduce the residents' monthly operating costs.