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Robert and Mildred Jaynes Trust
The Robert and Mildred Jaynes Trust (The Trust) was established in 2000 under the Trustee Act, R.S.P.E.I. 1988, Cap. T-8.
Purpose
The Trust provides financing to individuals or corporations to acquire, maintain and/or improve Prince Edward Island property of a historical, architectural, natural or cultural interest. Funds will be provided only when work is necessary to preserve, conserve or restore heritage elements of a structure. All work to be done must respect the character-defining elements as identified in the heritage character statements of the provincial or municipal designation and must comply with the Standards and Guidelines for the Conservation of Historic Places in Canada.
Eligible Property
To be eligible property must contain structure(s) registered or designated under the provincial Heritage Places Protection Act or the municipal heritage bylaws of Summerside or Charlottetown and must either be on, or be eligible to be placed on, the Canadian Register of Historic Places.
Assistance
Financing is provided in the form of a loan secured by a first or second mortgage. The term will be set at the time of approval but will not exceed 10 years. The available loan amount will be a minimum of $10,000 and will not exceed a maximum of $40,000.
Cost
The interest rate will be fixed at the time of approval. All costs including legal fees, survey fees, registration fees and administration fees will be borne by the applicant. An application fee will be applicable.
Restrictive Covenants
All recipients of The Trust financing must agree to covenants relating to the preservation of character-defining elements of the property. Such covenants shall be in addition to any restrictions imposed through application of heritage legislation or bylaws noted above. The covenants must be registered and run with the property.
Approval
Expenditure and investment outlays are governed by majority decision of the Trustees on the advice of the Board of Governors of Museum and Heritage Prince Edward Island.
Administration
The Trust is administered by Museum and Heritage Prince Edward Island with support from the PEI Lending Agency.
Contact
Further information may be obtained by contacting Linda Berko, Museum and Heritage Prince Edward Island.
2 Kent Street
Charlottetown
PE C1A 1M6
Tel: 368-6600
Fax: 368-6608
