Title
Swanlea Redevelopment - Preliminary Development Funding Loan
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 the purposes of authorizing the execution of the Loan and Mortgage documents for the Swanlea Redevelopment project (PID 002-154-536), substantially in the form as attached hereto as Appendix A, be approved; and
2. That Edward Robbins, Chief Administrative Officer, and Nelson Chan, Chief Financial Officer, or their duly authorized delegates, or any two directors or officers of the Corporation be authorized to do all things necessary to affect the project and take such steps as are required to conclude the financing, construction, and operation of the Swanlea Redevelopment project, conditional on Final Project Approval.