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Converse White Dainty 6.5

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"It's not looking good right now."

"We've run into innumerable obstacles," Wirges said.

Work at the site came to a halt after BarrCana began to experience cash flow problems and subcontractors at the site took liens out on the property. At one point an engineer estimated that the building had been 85 per cent completed.

With the title to the land, the society would have an easier time financing the project to completion, but the City of Cold Lake has been reluctant to sign over the title, given CLAHS's financial position and the uncertainty surrounding the project.

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Converse White Dainty 6.5

Converse White Dainty 6.5

source of funding and has heard interest from a number of potential sources, but talks have not progressed beyond the initial stages.

"There's been some speculation that we made decisions without background information and that's not fact."

Wirges said the society has been trying to secure a Converse All Star Ox Black Mono

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The society's $5.5 million, 32 unit housing project has been sitting unfinished and vacant since BarrCana, the contractor the society hired to build the modular facility and manage the project to completion, went into receivership two years ago.

´╗┐Funding solution needed soon or housing proje

Wirges said that once the lien fund is paid off, it would take the society about $1.7 million more to finish the building.

said Michelle Bourdon of CLAHS. "On November 26, our vacancy insurance runs out. We will have enough to pay for another three months from there, but then the winterizing needs to be done again."

The society currently has less than $20,000 in the bank and, with vacant building insurance costing over $11,000 every three months, the CLAHS's days are numbered if it cannot find a source of funding soon.

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The have courts established a lien fund of just under $370,000 to pay tradesmen for work already done on the site.

Kevin Nagoya, chief administrative officer for the city, said city staff has been trying to search for grants and other sources of funding the society could use to finish the project.

The city is set to meet with representatives from Alberta Housing and Urban Affairs during the week of Oct. 24, although no firm date had been set as of last week.

So far their efforts have come up empty handed.

"We've been supporting the (vacancy insurance) ever since the project's doors have closed," Converse - All Star Ox - Womens - Black Mono Leather

To date, the city has been leasing the land to CLAHS at a nominal rate.

What the society lacks in funds, it makes up for in its members' commitment: Not a single board member has quit since the project began, and none intend to, its members point out.

"If the province doesn't wade in and help us, then we just don't know what to do," said Richard Wirges, the society's chairman.

With proceedings before the courts, CLAHS did not want to put the project in any further jeopardy, he explained, and its members wanted to wait for some certainty before making a public statement.

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With a stalled project and little funding left, the Cold Lake Affordable Housing Society (CLAHS) is months away from closing its doors.

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Wirges noted that the society has not said much about its situation since its last annual general meeting.

Converse White Dainty 6.5

mold that had established itself on the building's unfinished top floor and kept toe building's foundation heated to prevent deterioration.

The announcement came Oct. 7 as the society prepared a letter it has since sent to the province detailing its situation and the society's intention of finishing the project.

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Wirges said that the society is grateful for the help that the city has given them to date. He's also thankful that the buildings' neighbours have put up with their unfinished project and he said the legal counsel representing the workers who took liens out on the property have been as understanding as possible.

He said the city could not confirm that a lender would loan the society the money it needs to complete the project if it had the title to the land it sits on.

Part of the society's issue Converse White Dainty 6.5 stems from the fact that it does not own the land the project is being built on, Wirges said.

"This is not the first meeting that we'll be having with them we've been actively looking for a solution to this issue under the guidance of Alberta Housing and Urban Affairs," he said. "What the solution looks like we don't know yet because we don't know how to bring this project to completion with the funding gap that exists."

Since then, the society has gone to court to establish a lien fund, kept the building winterized for two years, has paid vacancy insurance on the property, paid to clean up Converse Chuck Taylor Lean Ox Shoes

The project was started with about $3.5 million in provincial grant money that came to CLAHS through the city. The grant is conditional on the project's completion and will need to be repaid if the building cannot be finished.

Since then, many rumours have been running their course and, so far, the only thing the society's members have come to know for certain is that their attempts to hold the project together have brought CLAHS to the brink of financial collapse.

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