We are in year 2 of a 3 year transition that will see us reduce the current number of Owner Representatives, we will have 1 Owner Representative for every 1,000 Owners in a governance region. There will remain 103 (or slightly higher if our ownership numbers increase) Owner Representatives by the start of 2022. That compares to 11 directors. Having an additional 103 sets of eyes and ears in our communities and interacting with the board and management helps keep us better informed.
This model is resource intensive and the value we derive is worth the investment. We underwent a lengthy and thorough review of our model which led to the transition noted above. We are seeing positive changes in the way our Owner Representatives interact within their Regional Council groups and finding them more engaged in their role.