Title
Cedar Hill Library and Affordable Housing Development - 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 on the Lands commonly known as 3950 Cedar Hill Road (PID: 032-758-146), 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 on the Lands commonly known as 3950 Cedar Hill Road (PID: 032-758-146), 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 3950 Cedar Hill Road.