Don’t pay until Easter
Be cozy for Christmas
Have a high efficiency gas fireplace
installed with a fan and thermostatic
control for as little as $1,559 plus

taxes and permit. Offer available on

selected Hunter, Insta Flame &
Selkirk-models, .

no relie

way. Only when friends watch
out for friends and neighbors
watch out for neighbors can we
make the streets safe for all of us
again,

Woulda’'t it be nice if the last
words a mother said whenever
her daughter leaves the house
were, “Have a nice day honey.

I'll be sure to see you later"

Karyn Grant is a Grade 12
Sutherland Student: enrolled in
Video Production 12 at Lea
Marshall Curriculum Centre.

From page 28 a rape whistle or pepper spray.
Anything will help, especially if
route home; take the safest. you're caught alone.

If you are ever caught ina There is another thing we can
helpless situation, there are some — do,
things you can do, Don't be
afraid to call your parents or the
police. That is if you have the
time to do this, .

Always make sure that some-
one knows where you are at all
times. You can take a self-
defence course to help ward off a
bad situation. You can even carry

November is “Together
Against Violence" month on the
North Shore. When you sce peo-
ple wearing purple ribbons, it
means that our community has
said that we will not tolerate any
kind of violence.

We can all get involved in
supporting this, even if in a small

1521 West 8th Ave.

(just west of Granville)

732-3470

Council
grants
another
housing
variance

ALTHOUGH A 55-year-old
Marine Drive home is already

over the allowable floor area —

ratio (FAR), the owner
obtained West. Vancouver
District Council’s permission
to.add onto his kitchen and
dining area.
‘ TNE ERR
' WEST VANCOUVER
DISTRICT COUNCIL.

By Maureen Curtis

“Our bylaws changed since this
’ house was ‘built. I myself live in a
completety ‘non-conforming
house,” said Coun. Diana
Hutchinson, who was in favor of
granting the variance.

West’ Vancouver’s bylaws

regarding the FAR and the lot line -

set backs were tightened a few
’ years back to try and. limit over-
building of bulk houses.

‘But older homes are ata disad-.

: ivantage because their higher level

“, basements are included to a greater

extent in the FAR:

According to Coun. Rod Day,
‘3290 Marine Drive is a relatively
_ small house which is judged at
3,000 sq. ft. because of its large
basement.

Considering this and the limited
impact the addition was: likely to
have on the neighbors, most of

- council agreed with staff recom-
mendations that a variance be
allowed.

Coun. Allan Williams’ stood
alone against the variance.

He pointed out that the house

had already enjoyed other variances

and that this one would increase the

FAR by more than 50%.

; “I am sure that West Vancouver
has many homes of similar age
which would benefit from such an
expansion,” Williams said.

But Hutchinson said she likes to
encourage older homes in West
Vancouver.

Mayor Mark Sager said that the
existing home could be replaced

with something that would be larg-
er — but that would still fit within
the bylaw, |

\ 176 PEMBERTON AVE. N.VAN,

‘tion,

SERvice ite.

(FRLORMOTIVE™ TRANSMISSION SPECIALISTS

A.TR.A. - B.C.A.A, - A.R.A. CERTIFIED CENTRE

CANADA/U.S. WARRANTY

986-8:

| AUTOMATIC & STD. TRANS. & CLUTCH|

~ Services, O.H.s or exchanges -

TALKING
YELLOW PAGES

on “985-7455 Mataist8
YEAR

5-7455 W7LAiSI5

15

231 Lonsdale Ave., N.Van.

ver the next 15
years, nearly $1 tril-
lion. dollars of. real
estate will be passing from
the older generation to the

Carol Christopherson
Vice President
Canadian Home

Income Plan™ Corp.

younger. Many seniors are
now saying that it would be
nice to transfer at least some
of that wealth today when
their children really need it
and while they, the seniors,
are still alive to see it
enjoyed, An. equally strong
motivator for this early trans-
fer of wealth is the looming
possibility that government
may soon take steps to col-
lect “their” portion of this
wealth.

The very real frustration
for seniors has been the ques-
“How do I make this

wealth transfer now without
affecting my own security?”
An excellent solution,
recently. named by TD Bank
‘as Canada’s latest wealth
management program, is the
‘so-called “reverse mort-
gage.” Pioneered by the
Canadian Home Income
Plan Corporation, or

_ CHIP™, over a decade ago,

this innovative program has
helped thousands of senior
home owners realize their
financial goals.

According to Carol
Christopherson, Vice Presi-
dent of the CHIP™ pro-
gram, “The reverse mort-
gage is an excellent tool for
the transference of wealth to
the younger generation.
Not only that, it can also
benefit the older generation
directly by enabling them to
replace taxable income with
non-taxable income.”
An example quoted by
Canadian Home Income
Plan of how this may work is
as follows:

An individual homeown-
er with a fair number of other
assets and several .children
whom they wish to
receive a portion of their
inheritance early, may choose
to give some of the tax gen-
erating investments to their
children, and then replace
the lost taxable income with

xable income... winder. .

Senioi homequwners t to
*y Pa v . * a

We Treat You Royally A

wks

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, a

vw Fast fair claim settlements
w Safe drivers pay Jess
‘* Completely independent Auto Insurance. :

w Monthly payments

the reverse mortgage. Not
only has the younger genera-
tion benefited from receiving
an earlier inheritance, but the
older generation has replaced
taxable income with non-tax-
able income.

The reverse mortgage is
actually a much simpler pro-.
gram than many people
expect. Based on the ages of
the homeowners (who must
be at least 60), a percentage
of their house value is
“unlocked.” Once this
amount has been deter-

mined, it is provided to the |

homeowner and a charge for

‘that amount is registered on

title as security for the lender.
The main advantage is that
no repayments are required
on the mortgage during
the lifetime of the partici-
pants. Instead, the inter-
est will accrue and both the
interest and principal are
repaid in one amount,
normally at the time that the
last homeowner passes away.

The TD Bank recently
decided to make this product
available to their own client
base. The Bank felt that not
only did the program provide
access to another liquid
asset, but it had also been
properly designed with flexi-
bility and security for the
homeowner.

Speaking of the need for
valu;

ate the reverse mortgage

for themselves, Carol
Christopherson: said, =‘
reverse mortgage,
any other financial produc ty

‘is not necessarily for: ever}

one.. What people should ce

‘tainly be doing at ‘this stage

investigating exactly how this
interesting - wealth manage
ment program can-‘wor
Over'the years we haye
invested many hours discon
ering the options available te
us from other retirement
income programs such ::as
pensions, government. bene
fits, RRSP’s and: RRIF’s. We’
would certainly.:be' wise. to
invest. another ‘hour findi
out how we can. tap. in
what is probably our
largest asset — our home.”
Christopherson further
emphasized, “Once people
learn about the reverse mort
gage, they have a ‘choice as to.
whether or riot to use it, but
if they have not taken. that
time to discover. how it
works, they have no choices,
their options are not open.”
In order to assist with}
this education, CHIP™: will
be holding seminars in vari
ous local areas over the next}
several weeks, and would
encourage you to take anf
hour out of your time. and]
attend one of these sessions
Please call 685- 2447 for. fur

ty yy