TAKE NOTICE THAT pursuant to Sections 24 and 26 of the Community Charter, S.B.C. 2003, chap. 26 as amended, the City of Surrey (the “City”) intends to enter into a partnering agreement with the Provincial Rental Housing Corporation (“PRHC”) and the British Columbia Housing Management Commission (the “Commission”) the terms of which would provide assistance to PRHC and the Commission, including the disposition of an interest in the following property by way of Lease for less than market value, as follows:
Civic Address:
13561 and 13569 Bentley Road, Surrey B.C.
Legal Description:
PID: 011-439-611, Lot 1 Section 15 Block 5 North Range 2 West New Westminster District Plan 9938
PID: 011-439-629, Lot 2 Section 15 Block 5 North Range 2 West New Westminster District Plan 9938
Licensee and Recipient:
of the Assistance: PRHC and the Commission
The Nature of Disposition:
Lease Agreement for a term of 60 years
Form(s) of Assistance:
PRHC and the Commission will receive a contribution from the City of:
- leasehold interest of two City properties, which have a present market value of $2,963,000 (rounded) for a pre-paid 60 year lease.
- up to $11,370,648 in Rapid Housing Initiation grant funding for the purpose of construction and operation of a modular supportive housing project to rapidly house vulnerable people who are experiencing homelessness or who are at risk of homelessness.
This notice is given in accordance with Section 94 of the Community Charter.
Further information can be obtained from the City of Surrey, Parks, Recreation & Culture Department; Phone (604) 591-4459; Email: pkucharczyk@surrey.ca.
THIS ADVERTISEMENT IS FOR THE PURPOSE OF PUBLIC DISCLOSURE ONLY,
NOT SOLICITATION OF AN OFFER