Update #12 - Dec 2012

REDEVELOPMENT UPDATE – DECEMBER 5, 2012

The City of Vancouver, on November 27, 2012, enacted the bylaw approving our redevelopment. This means that our redevelopment is approved by the City (meaning we met all the conditions required by the City) and can proceed.

This now clears the way for our applications for a development permit and then a building permit.  For the permits to be issued we still need some covenants and agreements signed with several parties. We expect these to be received quite soon.

The entire team working on behalf of BI – volunteers, staff, architects, lawyers, contractors, consultants are working very hard to get the final answers and boxes filled in and signed off.

We also expect to soon be in a position to announce that BI has received a financing agreement for the project, for a major Canadian financial institution. This agreement has now moved into the final stage of approval and will allow for construction financing and financing over the next several years while we collect our pledges.

Another major step was taken on December 2. If you drive by the BI parking lot you will notice City of Vancouver vehicles and construction trailers. This signals the ground really being broken as the city commences the relocation of the sewer line running through our property. This is a major construction piece of the redevelopment. Its completion, around December 17, 2012, will then ease the way for our contractor.

And of course our fundraising drive continues. We still need our members, who have not yet taken the opportunity, to commit to BI’s Capital Campaign for the Future. Every dollar pledged is critical to the success of building our future. The dreams we all have require us to take action, to see that our hopes and aspirations are realized. So please call BI at 604.731.4161 to speak with Shannon or to arrange for one of our canvassers to come and share our dreams with you!