Title
2780 Spencer Road Mortgage Registration and Final Budget Approval
Recommendation
The Hospitals and Housing Committee recommends to the Capital Region Housing Corporation Board:
1) That the Major Capital Plan (2021-2025) be amended, and the final project budget for 2780 Spencer Road be approved at a value of $19,883,209;
2) That the resolutions, attached as Appendix A and Appendix B and required by BC Housing Management Commission to authorize the execution of the Section 219 Covenant and the Loan and Mortgage documents for 2780 Spencer Road (PID 031-284-914) be approved; and,
3) That duly authorized staff or executive officer(s) be authorized to do all things necessary to effect the project and take such steps as are required to conclude the purchase and construction, as set out in the letter of intent.