“Habar - We have not come this way before”
Joint Venture Agreement Meetings
The proposed Joint Venture Agreement with Castlepoint Numa Developments is ready for review, discussion and voting. For over a year, your Habar Committee has been working diligently on your behalf to establish this proposed Agreement with Castlepoint.
The Joint Venture Agreement outlines the terms of our partnership in the proposed redevelopment of the church properties (new parking lot and current church) and the former ScotiaBank building, owned by Castlepoint. The review and voting on this Joint Venture Agreement will take place in two stages:
On Sunday, July 14th, the Habar committee will offer a detailed review of the Joint Venture Agreement (JVA) to explain it and answer any questions. Our development consultant Derek Ballantyne will also be participating in the presentation. We will make a Summary Document available prior to the Information Meeting to help you better understand the Joint Venture Agreement.
On Sunday, July 28th, the church members will vote on approving the Joint Venture Agreement. All members are encouraged to attend. The church’s bylaws (constitution) also allow voting by proxy, for those unable to attend.
Following approval of the Joint Venture Agreement, a Limited Partnership (LP) team with Castlepoint will be established. The LP will consist of members representing the church, and members from Castlepoint.
The LP will be responsible for the design and development of the entire project, including the church’s spaces. The expectation is that some preliminary designs will be presented to the church for feedback in the fall.
Again, a Summary Document will be available prior to the Information Meeting to assist you in better understanding the Joint Venture Agreement.
Sunday July 14th INFORMATION MEETING - review of the Joint Venture Agreement Sunday July 28th MEMBERS VOTE ON JOINT VENTURE AGREEMENT
A light lunch will be provided at both meetings.