In chess there is also a clock, so sitting on your hands and doing nothing is not an option. You need to make a move, and currently the options proposed are EM2, half-baked ramblings from anonymous armchair developers, and do nothing.

Please do look ahead and read the writing on the wall. Three of the pillars currently propping up Eesti Maja are starting to wobble. Their biggest tenant is growing frustrated, the charity subsidizing much of the rent revenue is saying it can't last like this much longer, and the Estonian community that could once support the EM has been shrinking.

If we wait and do nothing (ie patch up repairs) the EM will go bankrupt and risks doing irreparable damage to the pank, ESK and to the community.

I'd love nothing more than to see an organized alternate proposal- another available move, but the clock is ticking.

ECU is a bank, they don't have anything to lose. They can move their business somewhere where they don't have to put up with the old house (freezing temperatures when the boiler fails or leaking roof). Eesti Maja has a lot more to lose if the bank decides to move. 30% of EM rent is paid by them. If Heinsoo leaves then you can forget our Eesti Maja. Only 4% of the rents is paid by fellow Estonians.

Chess players are more adept at plotting strategy many move ahead.

Looking to the future, the plans for EM2 are for a building that will be far more expensive to build than normal owing to it being above the subway. The board says they can use the money from the sale of EM1 to pay for the construction of EM2. But the board cannot prove this. They don't have a detailed budget for building the EM2. How much will it cost to build?? What is the current value of EM1? Why can't they tell us this before we vote on the issue?

My understanding is that the EM1 will be sold after the EM2 property is bought. What if the Toronto real estate bubble bursts between the purchase of the EM2 property and the sale of EM1? We would have nothing!!!!

The EM2 proposal as it is, seems incredibly risky. We could literally lose everything. I would also want to stick with the older house that has more space, easier highway access, and free parking.

Furthermore, I am totally against the Esto Credit Union playing risky real estate games. They are a bank, not a casino.