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lunenburg working waterfront

 

Lunenburg Working Waterfront Investment Fund

...invest in a working waterfront, invest in economic prosperity

Investment Philosopy and Guidelines

  • Lunenburg’s waterfront represents tremendous economic potential for new and expanded marine related business.
  • Lunenburg should be a destination for the boating community both locally and internationally.
  • A marina and other related services are presently absent on Lunenburg’s waterfront but they represent strong prospects to grow the economic activity of the waterfront.
  • Lunenburg’s economy, identity, culture, and its appeal as a place to live and work is related to the town’s status as a working waterfront community.(1)
  • The waterfront is the core economic engine of Lunenburg, not only in direct marine-related jobs, but also as a major generator of visits in the town’s successful tourism sector.1
  • The overwhelming conviction is developing that a reactivated working waterfront is possible, practical and is the best use for this unique resource.(1)
  • The community should play a part and reap the rewards of investing in a rejuvenated working waterfront.

    • 1. Cantwell & Company Ltd. “Final Report: Lunenburg Waterfront Business Plan,” Office of Economic Development, Dec. 2006
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    What is a CEDIF?
    Why invest?
    What are the tax incentives?
    Where does my money go?
    How much will I make?
    Who can invest?

     
    What is a CEDIF?
    A CEDIF puts community capital to work in your own community and provides jobs and income for your friends, family and neighbors. Everyone benefits. The development of CEDIF's means Nova Scotians have a smart way to put their money to work in their province.
    Why invest in a CEDIF?
    Nova Scotians invest more than $600 million annually in RRSPs. Less than 2% of this is reinvested in Nova Scotia. With CEDIFs, you can keep your investment dollars working in your community. You and your neighbors can pool your money and invest in business(es) in your community; creating jobs and supporting further economic growth.
    What are the tax incentives?
    35% tax credit available as a Nova Scotia Equity Tax Credit against provincial income taxes payable; certain conditions apply for subsequent 20% and 10% tax credits. Pre-approved holding status for a self directed RRSP. Direct transfers from an existing RRSP also available with immediate 35% tax credit.
    Where does my money go?
    Your money will purchase shares in a CEDIF. The fund then uses this money, known as capital, to operate or invest in local business(es). Charitable, non-taxable, and not-for-profit organizations are not eligible to take part in this program. A board of directors manages the fund. The board is selected by investors (shareholders).
    How much will I make?
    Returns are determined solely by the performance of the business(es) into which the fund is invested. Annual financial statements (audited or reviewed), semiannual un-audited financial statements and the auditor's report must be distributed to the shareholders. An annual general meeting must be held.
    Who can invest in a CEDIF?
    Any resident of Nova Scotia over the age of 19 is eligible to invest in a CEDIF anywhere in the province.
    THIS CEDIF OFFERING IS MADE THROUGH AN OFFERING DOCUMENT WHICH CAN BE OBTAINED FROM AN AUTHORIZED SALES AGENT OR FINDER AT THE LUNENBURG WORKING WATERFRONT INVESTMENT FUND OFFICE: CONTACT BY PHONE 902 604 3064; FAX 902 482 4238; OR E-MAIL REQUESTS AT WWW.LWWIF.CA. INVESTORS SHOULD READ THE OFFERING DOCUMENT BEFORE MAKING AN INVESTMENT DECISION.

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