You can print the pledge and lodge it locally by 16/2/21
at
Carey Bay: Carey Bay Preschool, The Goods Café, Westlakes Trophies, Framing & Engraving
Toronto: Cleavers Café, Altitude Real Estate
or
Use the online form
The CPPA is seeking pledges from our community (and beyond) for an investment for around 2 years to enable us to lodge an expression of interest (EOI) to enter into negotiations to purchase 20 Laycock St, Carey Bay. The EOI is due on Wednesday 17 February, 3pm.
If we can progress past the pledge stage a legal framework will be established to ensure everyone’s investment is secure. We expect each investor will become a shareholder or equivalent in some kind of holding structure which will purchase the land.
If the development we envisage goes ahead the income from sale of new properties will provide funds to repay investors. If it does not go ahead within 2 years, the intent would be to sell the land and distribute the proceeds back to investors. It is expected that in either case the return to investors would be similar to the original investment - any profit or loss would be expected to be small - but there is no guarantee.
The CPPA is a registered charity and our constitution recognises that buying land may be an appropriate way to pursue our objectives.
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