General Overview
Information Effective
07/01/2023
All of the fees and prices listed on the
Information Sheet
are in effect as of the date of the sheet and are
subject to change by the Board of Directors.
The actual fees and prices will be those in effect
at the time of your purchase and occupancy.
- Lynnfield Initiatives for Elders Incorporated (a/k/a L.I.F.E., Inc., or LIFE)
is a Massachusetts non-profit IRC 501(c)(3) corporation created in 1982 by Lynnfield resident
incorporators with the approval of the Lynnfield Select Board. There is a five-member
L.I.F.E., Inc. Board of Directors appointed by the Select Board.
There are no public funds used for the development or operation of the corporation or
it's three elderly housing villages.
L.I.F.E., Inc. is the, developer, operator, and property manager of Center, Essex, and Colonial
Villages.
- The purchase price for the lease is periodically set by the L.I.F.E., Inc. Board and is for the
“Right-To-Occupy” a specified unit for lifetime. This is not an apartment rental or deeded
condominium ownership. One of the two occupants (or singles) must be at least 58-years-of-age
and come from the “Waiting List of Class C L.I.F.E., Inc. Members” in first-come-first-served order.
Residents are either singles or couples; there are no more than two people in a unit.
There is one waiting list for all three "Village" properties and when a unit is vacated it will
be reassigned by L.I.F.E., Inc. to the next available Class C Member on the waiting
list and sold for the price in effect at that time.
- The waiting list is comprised of current or former Lynnfield residents with at least
two years of residency or the mother, father, brother, or sister of a current or former
Lynnfield resident with at least two years of residency.
The waiting list applicant must have completed the application and paid the $2,000.00 refundable
application fee.
At the time of this update the waiting list is comprised of over 400 class C members so
it is likely to be several years before an opportunity to occupy becomes available
to a new applicant.
- Monthly maintenance fees include all repairs to refrigerators, ranges, dishwashers, washers,
dryers, hot water heather, HVAC, etc. If the malfunctioning unit cannot be repaired, it will
be replaced at the discretion of the Maintenance Manager.
HVAC systems are inspected and windows washed inside and out annually.
L.I.F.E., Inc. maintains buildings, unit exteriors, common space, roadways, parking areas, walkways,
septic systems, green space, and provides landscaping, and snow removal services.
- Monthly fee includes payment to the Town of Lynnfield in lieu of real estate and Water District taxes.
Essex and Center Villages also include payment to the Lynnfield Center Water District for water usage.
Residents of Colonial Village are responsible for their own water and sewerage charges.
- Each complex has a part-time onsite Maintenance Manager to evaluate all requests for repairs.
The Maintenance Managers will repair items or call-in contractors such as plumbers, HVAC
mechanics, electricians, appliance repair technicians, roofers, painters, and others as needed.
- Occupants are responsible for their individual unit utilities: gas (for heat, and hot water,
estimated at $75 / month), electricity (for lights, cooking, appliances, and Air Conditioning,
estimated at $60 / month), telephone, internet, and cable television (Verizon or Comcast / Xfinity),
and are billed directly by the respective utility or service provider.
- Occupants are required to have their own personal property, accident, and liability
insurance coverage for their unit (renters or homeowners’ insurance), more detailed information is
available upon request. Occupants should consider temporary living expenses insurance in the
event their unit requires repairs that render it uninhabitable for a period of time while
epairs are made. L.I.F.E., Inc. carries insurance on the buildings, property and liability of
the Village and Corporation. This includes the individual physical units including the walls,
fixtures and appliances.
- All L.I.F.E. units are refurbished before new occupants move in. This includes painting,
cleaning, and carpet / floor cleaning or replacement, depending on the age and usage of the
carpet / floor. Appliances are cleaned or replaced depending upon age and condition.
- Occupants are responsible for decorating their own unit including window treatments,
shelving, and lighting, etc. Any routine cleaning or redecorating resulting from normal
use and living are the responsibility of the occupant.
- All three of the Villages have a clubhouse located on site as an adjunct to the occupant’s unit.
The clubhouse can be reserved for a fee, through the Villages’ Board of Governors,
for a private function. The clubhouse can be used by occupants without a fee for card games,
socializing, bingo, and any activity planned by the Board of Governors for the residents, etc.
- When a unit is vacated and all occupant possessions are removed,
the Executive Director arranges for a new Class C member on the list to purchase the
unit. The selling occupant is responsible for
the unit’s monthly maintenance fee, gas, electric, and water utilities, until
ownership passes to a new occupant.
- When the unit ownership transfers, the selling occupant will receive back the amount they
originally paid for their unit minus a refurbishing fee (set by the Board of Directors from
time to time), plus one-half of any increase in the unit price, or, incur a loss of one-half
of any decrease in unit price.
- L.I.F.E. Village occupants must be able to function independently in their unit.
L.I.F.E. does not provide any form of assisted living or provide any other ancillary
residential services for occupants.
