Title
Michigan Square Redevelopment Mortgage Registration and Final Budget Approval
Recommendation
The Hospitals and Housing Committee recommends to the Capital Region Housing Corporation Board:
1. That the resolutions, attached as Appendix A, Appendix B and Appendix C and required by BC Housing Management Commission to authorize the execution of the Section 219 Covenants and the Loan and Mortgage documents for Michigan Square (PID 001-225-197) be approved;
2. That the Cost Overrun Agreement, attached as Appendix D, be approved; and
3. That the Chief Administrative Officer be authorized to do all things necessary to effect the project and take such steps as are required to conclude the financing, construction and operation of the Michigan Square Redevelopment project.