Sink the Mortgage Update: Summer Share Sale with New Equity Tax Credit
If you haven’t yet purchased your “Sink the Mortgage” share(s) for 2009, there is still time! Since June 5, the Acadia Cinema Cooperative Ltd., has offered another opportunity to purchase one or more shares ($100 each) and receive a $30 equity tax credit for each share on your 2009 Nova Scotia Income Tax.
The “Sink” plan asks each current or new shareholder to purchase a $100 share each year for the next three years. With this kind of support the ACC will be mortgage-free by 2011, in time to celebrate the 100th anniversary of our historic building’s original performance space—Wolville’s Opera House (1911).
To date (July 5), 112 shareholders have purchased $24,500 worth of shares. Five double mortgage payments have been made and the 2009 Sink Tank is almost 30% full. So, let’s keep this momentum going and be able to celebrate together—BIG TIME—in 2011. If you haven’t bought your share for this year, please do. And if you know anyone who is not an ACC shareholder, encourage them to make an investment in our community—today! Thank you everyone.