Salt Spring Island Housing Agreement Bylaw No. 388 - (120 Crofton Road - Heritage Place)

Extracted text (beginning)

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SALT SPRING ISLAND LOCAL TRUST COMMITTEE
BYLAW NO 388

RERERE

RRR A RANA R RRA AAR AAS AAA CREAR RRR RRA CR ERERRERH ERE ERERERERERE RERRERERUAAE KERR ERE

RERGER

OR EN RAN AAA AAR ARN LN A ERR ER REE RERER EERE ERERERERERKEEEEEEERERERERERAR KR aE

The Salt Spring Island Local Trust Committee, being the Local Trust Committee having

jurisdiction in respect of the Salt Spring Island Local Trust Area unde

r the islands Trust

Act, enacts as follows:

1.

The Salt Spring Island Local Trust Committee authorizes the entering into of a
Housing Agreement substantially in the form attached to this Bylaw with Long
Harbour Ventures Ltd. SS

Any two of the Trustees of the Local Trust Committee are authorized and
empowered to execute and deliver the Housing Agreement.

This Bylaw may be cited as “Salt Spring island Housing Agreement Bylaw No.
388, 2003”.

READ A FIRST TIME THIS 2gtH DAY OF AUGUST , 2003

READ A SECOND TIME THIS 2g DAY OF AUGUST , 2003

READ A THIRD TIME THIS 28TH DAY OF AUGUST , 2003

APPROVED BY THE EXECUTIVE COMMITTEE OF THE
ISLANDS TRUST THIS 1074 DAY OF SEPTEMBER , 2003

ADOPTED THIS a7 DAY OF SEPTEMBER , 2003

SECRETARY CHATRPERSOf

CERTIFICATE

Certified a true and correct copy of

Dy for SaltSpring Island.

Deputy Secretary, IslandéFfust

‘December 9, 2003

Date

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LAND TITLE ACT

TERMS OF INSTRUMENT — PART 2 Page 3 of 11 pages

Housing Agreement and Section 219 Covenant

THIS AGREEMENT DATED FOR REFERENCE THE DAY OF , 2003, is

BETWEEN:

AND:

LONG HARBOUR VENTURES LTD., a company incorporated under the laws of
the Province of British Columbia

and having its office at P.O. Box 10424, Pacific Centre, Suite 1300, 777
Dunsmuir Street, VANCOUVER BC V7Y 1K2

(the “Owner’)

SALT SPRING ISLAND LOCAL TRUST COMMITTEE, a corporation under the

Islands Trust Act, having an office at 1206-115 Fulford Ganges Road, Salt Spring
Island, BC, V8K 2T9

(the “Trust Committee")

WHEREAS:

A.

The Owner has applied to the Trust Committee for rezoning of the Lands to
permit the construction of a seniors’ supportive housing complex on the Lands,
more particularly described in this Agreement:

The Trust Committee may, pursuant to s.905 (1) of the Local Government Act,
enter into an agreement with an owner of land that includes terms and conditions
regarding the occupancy of housing units located on those lands;

Section 219 of the Land Title Act permits the registration of a covenant of a

negative or positive nature in favour of the Trust Committee in respect of the use
of fand or construction on land:

18§999-3 [5442
VDO_DOCS #1292800 v. I

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Page 4 of 11 pages
3

D. The Owner and the Trust Committee wish to enter into this Agreement to provide
for the construction of Dwelling Units and the occupation of Dwelling Units by
Seniors, and agree that this Agreement is both a section 219 covenant under the

Land Title Act and a housing agreement under Section 905 of the Local
Government Act, and

E. The Trust Committee has, by by

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