West Point Grey Residents Association

April 29, 2015

News Release October 1, 2014

Historic Joint Venture Will Bring New Life To Three Vancouver Properties

VANCOUVER - COAST SALISH TERRITORY – The Musqueam, Squamish, and Tsleil-Waututh Nations and Canada Lands Company, announced at a news conference today that they have completed the acquisition of three former Government of Canada properties in Vancouver. The Nations and Canada Lands Company also announced an historic joint venture partnership that establishes and equal ownership interest in the lands with 50% collectively held by the Nations and the other half held by Canada Lands. The agreement will see the joint venture partners working side-by-side with the local communities and municipalities to establish new visions for each of these sites. As an initial step, the partners will complete their due diligence with a series of studies that will provide a thorough understanding of each of the three properties, followed by the launch of an extensive consultation process in conjunction with the City of Vancouver and District of West Vancouver that will provide local communities and the general public a forum to discuss ideas and views about the future of the sites. The consultation process is anticipated to begin in the new year. There are no preconceived plans for these sites; the partners are starting with a blank slate. Consultations and engagement will begin, plans prepared, support and approvals sought, and finally the sites will be developed over a number of years.

Joint Venture Development • Nations and Canada Lands 50:50 partners • Canada Lands as project manager • Management Committee makes major decisions

Joint Venture Agreement 50% / 50%

Federal government

Canada Lands

First Nations

Canada Lands – FNs Joint Venture

Canada Lands Project

Manager

Project Management Agreement

Agreement of Purchase and Sale 72%

Settlement Agreement 28%

Canada Lands Company • Self-financing, commercial Crown corporation, began

operations in 1995 • Receives no appropriations from government • Canada Lands’ main role is to optimize the financial and

community value of acquired federal assets • Canada Lands is subject to all municipal authorities and

works closely with municipal governments • Also holds and manages certain special purpose properties

such as the CN Tower, Old Port of Montreal and Montreal Science Centre

Ideas Fair Workshop & Open House Public Advisory Group Meetings

• Extensive consultations with public, municipalities Public Engagement

Garrison Crossing, Chilliwack,BC

• Financially viable, enhanced communities, lasting legacy Planned Developments

Rockcliffe, Ottawa, ON

Currie, Calgary, AB Village at Griesbach, Edmonton, AB

Garrison Crossing, Chilliwack

Garrison Crossing, Chilliwack

Garrison Crossing, Chilliwack

Nations – CLC Joint Venture Lands

4165 Marine Drive, West Vancouver

Heather Street Lands, Vancouver

Jericho Lands, Vancouver

Jericho Lands, Vancouver

26.2 Jericho Lands Planning Process Approved If the redevelopment of the Jericho Lands is proposed, the City should ensure that a major study of future uses of the site takes place with significant public consultation. Consistent with the approach taken to create the WPG Community Vision, workshops and other consultations – including a survey of WPG residents – should be held to help determine the neighbourhood’s view on issues related to the development of the Jericho Lands not covered in the WPG Community Vision. There should be early feedback to City Council on the interests and concerns of the WPG community before any key decisions are made. The outcome of a Jericho Lands planning process should be a plan for the site developed in consultation with the WPG community; the plan should be considered when implementing Vision Directions and pursuing other City initiatives in

WPG.

West Point Grey Residents Association

April 29, 2015