Monthly Archives: May 2015

Amalgamation Update

12 Tuesday May 2015

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Victoria, Esquimalt, Central Saanich, Sidney, North Saanich, and Colwood have all sent letters to Minister Oakes to discuss a provincial study on governance.

Langford will consider sending a letter at their next council meeting on May 19th.

Notice of motion by Colin Plant at Saanich’s council meeting last night to send a letter to the Minister to talk about governance study. Will be debated at their next council meeting on May 25th.

Oak Bay will have some sort of motion on May 25th as well.

John Raans the Mayor of Metchosin has indicated they will be sending a letter.

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Projects designed to improve lives of First Nations people

01 Friday May 2015

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Incredibly proud to be a part of this. From the Times Colonist Article.

“A lot of the banks we sat down with were keen to be involved once the development was going,” said Andrew Reeve, head of government relations and outreach with Butterfield’s Trust for Sustainable Development.

“But they don’t want to look bad or damage relationships if the project doesn’t succeed. It’s a Catch-22 unique to First Nations like Beecher Bay that are land rich and cash poor. You need development to get development happening.”

So the trust proposed something unconventional to address the need for mortgage financing in First Nations communities. They have created the First Nations Social Impact Fund, a mortgage investment corporation that loans against raw land and generates revenues as the land appreciates value with development.

“We were shocked that no one had ever thought of using mortgage investment for social impact investing,” said Reeve, calling the concept a new form of philanthropy. “It’s clear more people are saying, ‘If I’m investing, I want my money to do some good.’ ”