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General Committee
June 21, 2021
What was decided (2 motions)
1 carried, 1 recorded otherwise. Every motion below is printed as the minutes print it.
That motion 21-G-188 Section “H” of the General Committee Report June 21, 2021 concerning Interim Construction Financing - Redwood Parks Communities be amended by adding the following as paragraph 4: “4. That the loan be fully repaid to the City by June 30, 2023, and the Director of Legal Services and Director of Finance/City Treasurer be delegated authority to enter into a loan agreement with Redwood Park Communities.”
Moved by Councillor, R. Thomson, seconded by Councillor, J. Harris
Carried
That motion 21-G-188 Section “H” of the General Committee Report June 21, 2021 concerning Interim Construction Financing - Redwood Parks Communities be amended by adding the following: “5. That Redwood communities be charged a 2% interest rate for the money lent, interest accruing 6 months after the draws are extended to Redwood. 6. That Redwood be refunded/credited to redwood upon then meeting their targets.”
Moved by Councillor, S. Morales, seconded by Councillor, M. McCann