Oct - Old Ottawa South

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Page 26 The OSCAR - OUR 31 st YEAR OCTOBER 2005 Breaking New Ground in Old Ottawa South The classically elegant Moorcroft luxury townhomes are now under construction. Visit our office to see what luxury truly means. PRICED FROM $560,000 - $950,000 1,725 - 3,022 SQUARE FEET 18 Spectacular and Unique Townhomes, wonderful site with mature trees, full landscaping Charlesfort Offices 787 Bank Street, Second floor Monday to Friday 8:30 to 5:00 or by appointment 2 3 3 - 0 0 4 4 w w w . c h a r l e s f o r t . c a B A N K W I L L A R D S U N N Y S I D E S C O T I A B E L L W O O D C A M E R O N
OCTOBER 2005 The Moorcroft By James Hunter Charlesfort Developments is proceeding with construction work on the old St. Margaret Mary School site. The project is called “The Moorcroft”. Charlesfort has created a web site to market the property. The URL is: www. charlesfort.ca. Quoting their web site: “Moorcroft is 16 stunning luxury freehold townhomes and 2 exquisitely crafted semi-detached units many of which are sited around a large existing oak tree and oriented to take full advantage of this unique setting”. Ten units remain unsold. The prices of the remaining units range from $525k to $950k. The units carry the names: Windermere, Hawksmoor, Hampstead, Florian, Chelsea, Hollyhock and Picadilly. Full plans of each unit are available on the web. I note in their description of Old Ottawa South, that they state: “Old Ottawa South has long been recognized as one of Ottawa’s premier neighbourhoods. Quiet tree-lined streets, historic homes and immediate access to shopping, parks, and excellent schools make this area one of the most soughtafter locations in which to live.” They do not mention the destruction of a school led to the availability of this site. The project is not a condominium, but does include a monthly “Joint Use Fee” in the $100 range which covers: public liability insurance, semi annual exterior window Young artists at work Young artists at First OOS Art Festival. Their mural can be seen in Sunnyside Library in the children’s secion cleaning, snow removal, landscaping maintenance , management fees, accounting fees, general maintenance of common elements and reserve fund. The full details of the planned The buildings will be a good addition to the neighbourhood and will fit in well with the area development including interior by Rick Sutherland For more than a decade, Ontario residents have been compensated with federal and provincial tax credits of 30 to 40% when purchasing Labour Sponsored Investment Funds (LSIFs). The credit was dependant on what fund was purchased and when the investment was made. On August 29, 2005, the Ontario Ministry of Finance announced that they plan to cancel their portion of the tax credit. The Ontario credit began in 1991 as a means to encourage investments in start-up companies, mainly in the areas of hi-tech and biotechnology, during a time when our country was in a recession. The idea of the tax credit was to promote small companies and provide a source of financing that might otherwise be unavailable. The maximum investment that individuals could make to receive The OSCAR - OUR 31 st YEAR and exterior finishes are available on their web site. Of interest to the community is the exterior landscaping: Architecturally designed landscaping as per landscape plan – large oak tree maintained, extensive planting of trees along Scotia Place, Willard Street and Bellwood Avenue. City Park with Benches around large oak tree. Shrubs, trees, interlock walkways and stone walls. the credit was $5,000. Finance Minister Greg Sorbara says, “Ontario’s venture capital market is much healthier now, and we believe that this incentive is no longer the best fit in today’s economic and fiscal climate.” Needless to say, most Labour Sponsored fund companies disagree. They believe that Ontario investors will be less likely to buy into venture opportunities without the tax incentives. They also say that foreign interest will wane without a strong domestic market. Some are speculating that this measure could cause a slump in the Venture Capital sector and a decline in research-oriented small businesses in the province of Ontario. The government further argues that they will save approximately $40 million per year. It is true that tax credits should not be the only reason to buy LSIFs, but they certainly help balance out Page 27 Closing dates for the units range from November 30 to January 15. If you’d like to see what the site will look like, elevation plans are available on the website, which shows what the streetscape will look like along Scotia Place, Willard and Bellwood. I feel that we can be thankful that award-winning developer Charlesfort is developing this property. The buildings will be a good addition to the neighbourhood and will fit in well with the area. The Province Has Decided to Eliminate LSIF Tax Credits the extra risk associated with these types of investments. It also allows the average taxpayer the opportunity to participate in these start-up opportunities, normally reserved for the wealthy and institutional investors. With the potential removal of these incentives, it is easy to envision a decline in new start-ups for years to come. The Ontario government has been consulting with the Labour Sponsored fund industry to determine how the funds will move forward. If you feel strongly about this issue, it would be worthwhile to contact your local MPP and voice your opinion. This is a monthly article on financial planning. Call or write to Rick Sutherland CLU, CFP, R.F.P., of FundEX Investments Inc. with your topics of interest at 798-2421 or E-mail at rick@invested-interest.ca.
Page 1 and 2: Fun, fitness and friends … Ski an
Page 3 and 4: OCTOBER 2005 LETTERS TO THE EDITOR
Page 5 and 6: OCTOBER 2005 OSCA PRESIDENT’S REP
Page 7 and 8: OCTOBER 2005 CITY COUNCILLOR’S RE
Page 9 and 10: OCTOBER 2005 By James Hunter Have y
Page 11 and 12: OCTOBER 2005 The OSCAR - OUR 31 st
Page 13 and 14: OCTOBER 2005 HISTORY MATTERS By Den
Page 17 and 18: OCTOBER 2005 By Christina Rowe Even
Page 19 and 20: OCTOBER 2005 webber naturals Glucos
Page 25: OCTOBER 2005 OCDSB TRUSTEE REPORT T
Page 31 and 32: OCTOBER 2005 Volunteer of the Month
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Page 35 and 36: OCTOBER 2005 Classy ads cont’d Fr

Oct - Old Ottawa South

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