6. LOAN RECEIVABLE HCi3's mandate includes direct investments, such as loans, to support local projects to mitigate climate impacts. Loans receivable are funded by endowments from FCM and the Province of Nova Scotia. During the year, HCi3...
AI summary HCi3 provides loans to support local climate projects, funded by FCM and the Province of Nova Scotia. A $200 loan was issued with prime +4% interest, repayable in interest-only installments until 2027, secured by a general security agreement over the borrower's assets.
1. NATURE OF OPERATIONS Halifax Climate Investment, Innovation and Impact Fund ("the Organization") was incorporated on October 21, 2020 under the Canada Not-for-profit Corporations Act. The Organization is controlled by EfficiencyOne by i...
AI summary The Halifax Climate Investment, Innovation and Impact Fund (HCi3), incorporated in 2020 under the Canada Not-for-profit Corporations Act, is controlled by EfficiencyOne and operates as a not-for-profit under the Income Tax Act. It manages endowment funds for the Federation of Canadian Municipalities (FCM) and Nova Scotia, with investment income attributed to contributors for tax purposes.