Title
Swanlea Redevelopment - Mortgage Registration and Final Project Approval
Recommendation
1. That the Resolution of Directors for the Repayable Mortgage in the form required by BC Housing Management Commission for authorizing the execution of the Loan and Mortgage documents for the project at 898 Sevenoaks Road (PID: 002-154-536), substantially in the form attached hereto as Appendix A be approved;
2. That the Resolution of Directors for the Forgivable Mortgage in the form required by BC Housing Management Commission for authorizing the execution of the Loan and Mortgage documents for the project at 898 Sevenoaks Road (PID: 002-154-536), substantially in the form attached hereto as Appendix B be approved; and
3. That Edward Robbins, Chief Administrative Office or Nelson Chan, Chief Financial Officer, or their respective duly authorized delegates be hereby authorized to do all things necessary to affect the project and take such steps as required to conclude the financing, lease, construction, and operation of the project located at 898 Sevenoaks Road.