2020 Annual Report

Annual Report 2020 93 CHILLIWACK ECONOMIC PARTNERS CORPORATION NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2020 CHILLIWACK ECONOMI ERS CORPORATION Notes toFinancial Statements (continued) Year ended December 31, 2020 13. Subsequent events: Subsequent to year-end, on January 9, 2021, the Corporation’s offer to purchase three properties was accepted and is expected to close in June 2021. The total purchase price of the three properties is expected to be $1,524,850. Additionally, on February 8, 2021, the Corporation's offer to purchase one property was accepted and is expected to close in March 2021. The total purchase price of the property is expected to be $2,500,000. 14. Segmented information: The Corporation is a diversified other government organization that provides a wide range of services, including: Property sales and construction Property sales and construction includes the proceeds and costs related to the development, sales of commercial industrial or institutional buildings and lots in Chilliwack and the construction or construction management of projects for other parties. Rent and contracted services Rent includes all activities associated with the rental of buildings and land owned by the Corporation. Contracted services includes all activities related to property management services. Economic development Economic development includes all activities associated with economic development activity in Chilliwack. 11