Title
Caledonia Affordable Housing Redevelopment - Budget Amendment and Capital Region Housing Corporation Major Capital Plan (2025-2029) Amendment
Recommendation
The Hospitals and Housing Committee recommends to the Capital Region Housing Corporation Board:
1. That the Caledonia Redevelopment project budget and the Capital Region Housing Corporation Major Capital Plan (2025-2029) be approved as amended in Appendix B;
2. That the Resolution of Directors required by BC Housing Management Commission for the purpose of authorizing the execution of the loan and mortgage documents for the Caledonia Redevelopment project (PID 031-731-848), substantially attached as Appendix A, be approved; and
3. That $882,392 in surplus capital funding from the Michigan Square Redevelopment project be reallocated to the Caledonia Redevelopment project to offset the budget shortfall.