Since January 1, 2010, 62 supporters have bought 112 shares in the SINK THE MORTGAGE share-buying program . Every share purchased takes us closer to the goal of retiring the mortgage entirely. Every share purchased makes a difference. To date, this wonderful support has provided eight double mortgage payments and, as of August 1st, ACC will have paid down 30% of the total mortgage since the Sink program started.
When the Cooperative began “Sink the Mortgage” we owed $227,000 on the mortgage and now it stands at $160,000. A total of 160 people have already bought 390 shares ($39,000) since our effort began. But there’s still a ways to go.
The Equity Tax Credit – that’s 35% of the cost of every share right off the top of your Provincial income taxes for this year – offers an added incentive to help the ACC reach its goal in 2011.