Clark, Mary Ann. Letter to Residents. 20 May 2004. Britannia Bay Properties ltd, Vancouver, BC.

This letter informs the residents of Britannia Beach for Britannia Bay Properties ltd that the plan to make it possible for them to purchase their homes and land is moving forward.  She states that the appraisals have been completed.  She then states that "all Britannia Beach residents will be given a first opportunity to purchase their respective lots."  She then explains the program that they have developed: 25% off appraised value is allotted to the buyers, this 25% will be used as a downpayment and will allow, in most every case, the balance of the cost to be fully mortageable, they have negotiated with Royal Bank and all Britannia Beach residents will receive 1% below the posted mortgage rate, Royal Bank will also give the buyers $500 towards legal costs, because the residents already reside in their dwelling no G.S.T. is applicable to the sale, if residents wish not to buy they are provided with one year of free rent after which they must vacate or they can rent for two years at their current rate and the next two years will increase at 5% per year.