Meeting was held in person at Concordia Club and over Zoom.
President Judy opened the meeting with the Rotary Land Acknowledgement
We would like to acknowledge that the land on which we live and work today is the land traditionally used by the Hoaudenosaunee, Anishnaabe and Neutral people. We also acknowledge the enduring presence and deep traditional knowledge, laws and philosphies of the Indigenous people with whom we share this land today.
President Judy reminded members of the upcoming Flag Program installations for Remembrance Day. Tim Bradich confirmed that most flag renewals will come due in May of 2022. Please continue to promote this fundraising effort.
Reminder Alex Pavlov has requested blanket donations to help with those in need. Please contact Alex or Judy if you have blankets to donate.
Catch the Ace lottery round two is set to commence November 11th, 2021 with all proceeds this time going to KidsAbility. First Draw Nov 18th.
Fellowship Opportunities:
A fall/winter hike is being proposed. Watch for an email from Judy with more details.
Drayton Entertainment:
John Thompson is coordinating opportunities for Rotarians to taken in a show at Drayton’s Cambridge Theater and/or St. Jacob’s playhouse. Contact John for additional details.
Happy birthday wishes to John Vickery and Jeff Heimpel and Anniversary wishes to Kelly and Terry Strome and Honorary Member Glenn and Claire Machan.
The 50/50 draw at our in-person lunch meetings is back in action. For the benefit of future 50/50 participants the we are happy to report that the pot continues to grow as John Villemaire and Karin Voisin (x2) were unsuccessful in finding the winning black marble.
Guest Speaker
Sean Campbell, Executive Director – Union Sustainable Development Co-operative
Sean provided us with a presentation on the goals of the Union Sustainable Development Co-operative. Union Co-operative is working to buy residential & commercial properties in Waterloo Region for permanent affordability through community ownership.
As a co-operative members can invest in Union Co-op to pool funds to purchase properties to be held as long term affordable rental units. To become a member, you must have a connection to Waterloo Region. A maximum investment for each member is capped at $10,000. Dividends will be declared by the Board on an annual basis. Each member receives 1 vote.
Union Co-op is targeting the purchase of older, existing housing stock preferably in the form of small walk up apartments that have historically provided lower rents to the community. Their belief is that revitalization of these properties over the long term will help to maintain affordable housing options in the Region. Rents will be controlled and only increase at the average rates permitted. Surplus funds will be utilized to declare dividends and to continue to build investment pool to acquire additional properties.
Financial model works though the assistance of government grants and lending rules applicable to Not-for-profit affordable housing projects.
