There is a great deal of confusion among devotees and donors over the DMC building ownership located at 902 Rae Street, Regina. The administration team of DMC would like to take this opportunity to clarify and answer the questions on this issue. 2020 was a challenging year for many of us; for DMC as well. The basement suite within the DMC building was damaged due to flooding caused by pipes that were improperly installed. The issue started when the landlord discovered that a plumber who worked on the property before due to plumbing issues failed to install a pipe properly which caused the flooding damage and the insurance policy would not cover the for cost for this failure. Therefore, the landlord did not meet the requirement for the claim. DMC had no funds to repair the damage and the estimated cost of the repair are approximately $31,600.00. Questions arose as to where money could be secured to cover the costs. Some devotees had suggested that the building owner should make an insurance claim to meet the cost. Others had suggested that it is the mortgage holder’s responsibility to assume the costs associated with building repair and maintenance, and not DMC because DMC is a tenant within the building.
The building ownership background: In 2016, a group of Buddhist families in Regina had jointly decided to buy a property for DMC. The families contributed money to a common fund to secure a building with a 5% down payment for the leasing of the property. They decided to elect Mr. Biddya Ranjan Chakma to be the building owner because he had been approved for a mortgage. He would act as the sole owner of the building. As such, the other families agreed to contribute money to pay towards the regular monthly mortgage and other building expenses such as electricity, insurance, repairs, etc. As soon as the building was officially secured by Mr. Biddya Ranjan Chakma, devotees invited DMC to move to Regina from Toronto. The move to Regina implied the following understanding that DMC will be a tenant of the building, and pay $500.00 monthly rent to the landlord. A signed rent-to-own contract agreement was made between the landlord and DMC the tenant. It states that DMC will assume the building ownership once the mortgage is fully paid. Dhammanjali Meditation Center trusts that the above information provided within, clarifies the questions that exists amongst the devotees and donors. In order to take full ownership of the building, DMC requires your financial support. The Center is operated solely on the generosity of individuals who make up our community, volunteers who run our programs and the participants who attend. We sincerely appreciate your support toward the DMC Building project. Your donations are gratefully received and are tax deductible with all receipts issued upon request.
902 RAE STREET, REGINA, SK S4T 2B4 Canada email@example.com (306) 580-8281