"Our mission as a charitable organization founded and led by concerned individuals of Danish descent, is to provide active and independent adults over 50 years of age with an opportunity to enjoy a meaningful community lifestyle while residing in safe, secure, pleasant and affordable accommodation through the Life-Lease concept." BACKGROUND: The Danish Senior Citizen's Apartment Foundation was initiated when, in the early 1980's, the Danish Canadian Club in Calgary was looking for an organization that could focus on developing exciting seniors housing which would benefit, amongst others, the immigrant population, of which many arrived in the 1950's. The Danish Canadian Club of Calgary approached the Danish Lutheran Church of Calgary and asked the Church Board to join the Danish Club Board in setting up an organization with seniors housing on the agenda. The result was The Danish Senior Citizen's Apartment Foundation (D.S.C.A.F) which was incorporated in December 1986 and is now a registered charitable organization with Revenue Canada. THE LIFE-LEASE CONCEPT Life-lease is a program by which residents pay the capital lease cost, equal to the value of an apartment suite. They are then guaranteed the right to occupy that suite for as long as they live. Upon moving from the suite for health or other reasons, the Foundation guarantees to buy back the life-lease at the fair market value of the suite less a fee of 8%. This fee covers restoration and administration. As security for the capital lease cost the resident will receive a collateral mortgage registered in his or her name on the title of the suite. During the resident's stay in the suite they must pay their share of the costs of operating the project, as well as city property taxes. BENEFITS OF THE LIFE-LEASE The benefit of life-lease housing is that it caters to a senior's needs. This new dwelling relieves the resident of the maintenance of a home, and the project gives the senior a sense of community and a sense of belonging. The costs are controlled and residents are relieved of the task of disposing of the suite when it is time to vacate, be it for health or other reasons. The Danish Senior Citizen's Apartment Foundation is committed to Dana Village and is represented on the Board of Directors who, together with the general manager, operate the project. The Foundation has been and is the driving force behind this project. This is what sets Dana Village apart from the norm. The Foundation will continue their presence as an umbrella organization with the sole goal of making Dana Village the best seniors complex in Calgary.