File #: 25-1277    Version: 1 Name: Verdier Project-Mtge Reg'n & Final Project Approval
Type: Action Report Status: Reported to Board
File created: 11/19/2025 In control: Hospitals and Housing Committee
On agenda: 12/3/2025 Final action:
Title: Verdier Project - Mortgage Registration and Final Project Approval
Attachments: 1. Staff Report: Verdier Project - Mtge Reg'n & Final Project Approval, 2. Appendix A: Draft Certified Resolution of Directors–Repayable Mtge, 3. Appendix B: Draft Certified Resolution of Directors–Forgivable Mtge, 4. Appendix C: Provisional Rent Levels, 5. Appendix D: Loan Commitment Letter – Repayable Mtge, 6. Appendix E: Loan Commitment Letter – Forgivable Mtge

Title

Verdier Project - Mortgage Registration and Final Project Approval

 

Recommendation

The Hospitals and Housing Committee recommends to the Capital Region Housing Corporation Board:

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 1183 Verdier Avenue (PID: 032-163-321), 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 1183 Verdier Avenue (PID: 032-163-321), substantially in the form attached hereto as Appendix B, be approved; and

3.  That Edward Robbins, Chief Administrative Officer 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 1183 Verdier Avenue.