Town of Banff

BHC Shareholders Review Recommendations

February 11, 2009

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FOR IMMEDIATE RELEASE

Banff Housing Corporation shareholders meet to review community's concerns

Banff, AB – In response to input from the community, the shareholders of the BHC (Banff Town Council) met today and passed the following motions related to the BHC Mandate Review.

Motion:

The shareholders of the BHC (Banff Town Council) direct the Board of the BHC to withdraw Recommendation 6 and that the shareholders will not consider any form of price restriction model for MS2 and Riverview Court homeowners, now or in the future.

Motion:

The shareholders (Banff Town Council) direct the BHC to refer recommendations 1 through 5 and 7; the concept of standardization of equity split; and a collated list of the issues and solutions received to date from all residents, to the proposed working group for review and recommendation. The shareholders (Banff Town Council) consider these items as discussion points and additional ideas are welcomed.

Motion:

The shareholders (Banff Town Council) direct the proposed working group to make recommendations for additions to the Articles of the sublease agreement to provide certainty around the model of homeownership in MS2 and Riverview Court.

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For more information:

Dougal Forteath
Chief Administrative Officer
Banff Housing Corporation
T: 403.762.1115
E-mail: dougal.forteath@banff.ca