Notice of Proposed Assistance

Take notice that pursuant to Section 24 of the Community Charter (British Columbia) the Council of the District of Squamish proposes to provide assistance to Squamish Oceanfront Development Corporation (Registration No. BC0685492), (the “Company”), having a registered address at 925 W Georgia St #1600, Vancouver, BC V6C 3L2, under a partnering agreement.

The purpose of the partnering agreement is to enable the District to contract with the Company respecting the planning, development, servicing and marketing of the Squamish Oceanfront Lands and to provide assistance to the Company.

The nature of the proposed assistance under the partnering agreement is contracting by way of a loan agreement with the Company to agree to pay the Company the sum of eight million ($8,000,000) dollars on the condition that SODC shall apply the monies to its loan with Bank of Nova Scotia on or before July 31, 2015.

The term of the proposed assistance is five (5) years. The extent of the proposed assistance is the payment of the eight million ($8,000,000) dollars. Under the loan agreement the Company must repay these monies to the District within five (5) years with interest at the Municipal Finance Authority deposit rate prevalent during the term of the loan. Any inquiries concerning the proposed assistance should be addressed to the undersigned or sent via email to rarthurs@squamish.ca or by fax 604.892-1083. The agreements and records relating to them are available for public inspection beginning Friday, July 3 at the District of Squamish Municipal Hall during regular office hours.

Robin Arthurs, Corporate Officer, District of Squamish

Dated: July 2, 2015