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As a senior living at Catherine Gardens, did you know that the Schubert Center is verging on bankruptcy. That is has been Operating with a deficit, and mismanaged for years. Were you told this before you handed over hundreds of thousands of your life savings? Or maybe you were assured that all was going to be taken care of. Were the risks explained to you? Do you think knowing this was important? Do you think not being told this was clearly taking advantage of vulnerable seniors? Well don't feel bad. You weren't the only one. Us seniors were taught to respect and believe people in positions of authority. We are easy targets. All the while city and provincial politicians provided support and showed up for photo ops and told us what a great deal Catherine Gardens was for seniors, the community, and the Schubert center Did any of them have a responsibility to know about this and warn us? Will they help any of the seniors that are trapped? Or will they denie any responsibility? It was no secret to some that the Schubert Center struggled financially for years. At the time of construction they were 1mm in debt already. And now its ballooned to almost 2 million. We are still in great financial trouble -Shirley Higgins Diane Weaver, board of directors president, said there is a “very real danger” the center may be forced to close - jan 2020 Why do you care? Where does it leave you if the Schubert center goes bankrupt? There will be no one to manage the building. Creditors may want the Schubert center and Catherine gardens liquidated . Where does that leave you? You don't own your apartment so you may not see your money back. What if something happens to your health or life circumstances and you are forced to move. We all like to believe that things will be fine. Nothings going to happen to me. Im happy here. I dont want to hear this. We like to believe that things will be fine or someone will take care of all this. Well think again. Suddenly, the worst happens and you are forced into a situation One of you neighbors, right now, is in this situation. She's 87 and suddenly and unexpectedly began losing her eye sight. Now she's legally blind. She needs to move to where she an get more assistance. But she cant! Why? Because the Schubert center has no money. They are in debt and cant refund your entrance fee as you were promised. So she has to sell. But buyers are scared to buy in a building associated with so much debt and uncertainty. Local realtors know all about whats happening and they warn buyers as they should. On top of that, any potential buyers need cash in hand because financial institutions wont lend to someone buying a life lease. So she stuck. She needs the money to move. But she's trapped.Her life savings are tied up in this mess. She is not the only one. You may not realize but you are trapped too. This could be you. Tommorow, a month from now, a year from now. And if nothing changes, you'll be trapped too. Potential buyers at Catherine gardens are scared by this. Afraid everything might go under So even with a really hot real estate market, places at Catherine Gardens have been on the market for hundreds of days with no buyers Currently condos are selling fast, prices are up, but people in Catherine Gardens are not seeing any benefits of this hot market. What can you do? Well what you cant do is trust that same people doing the same things the same ways is going to solve this problem Paying off 2mm in debt isn't easy and may never happen. On top of that the Schubert center would need to build a reserve fund in order to refund entrance fees. What do you think are the chances of that happening No. It is time us Catherine Gardens tenants take matters into our own hands. Together we are stronger. Together we have a voice. As a member of the Catherine Gardens Tenants Association you will have a voice. It time we demanded ownership be given over to us tenants. You deserve to own your place. To be free to sell it on your terms. To attract buyers who aren't afraid of losing their money. To attract buyers who can get traditional financing But most of all you deserve to know that you have the freedom to move should the need arise. You were taken advantage of. You deserve justice. Join us. Join the CGTA. Lets do this together.