CONDOMINIUM SCENARIO

Highlights of a Back-of-the-Envelope Pro-Forma
The following chart provides the Highlights of a "Back-of-the-Envelope" Pro-Forma Analysis for a condominium development given market prices, condominium mix, provisions for on-site drainage, lot shape considerations and parking standards.

At current market conditions, the Rate of Return on Investment to develop these properties is estimated to be "Excellent".

Development Cost Charges and Affordability Housing Contributions charged by the Capital Regional District and the City of Langford were included in the Analysis. Should negotiations reduce these costs, the Rate of Return on Investment goes up.

Wood Initiative
The Province of British Columbia permits a SIX storey Wood Complex under the Government's Wood First Initiative and accompanying Legislation, the Wood First Act, 2009.