Barrie Pursues Recovery of Redwood Construction Loan

The City of Barrie directed staff to continue efforts to recover approximately $3 million plus interest from Redwood Builds under an unsecured construction loan for supportive housing. The loan was amended in 2025, but the repayment conditions were not met and the borrower remains in default.

Document date · September 16, 2026

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Scope & details

The full contract record, as filed.

Contract amount

Up to $3 million; approximately $3 million plus accrued interest remains outstanding

Contract type

FINANCIAL_SERVICES

Contract term

June 28, 2021 – December 31, 2025 repayment deadline

Renewal date

2025-12-31

Renewal

Repayment deadlines were extended through multiple Council motions between August 9, 2021 and March 6, 2024. A May 2025 amendment offered conditional forgiveness of $500,000, but the conditions were not met; the full loan became due December 31, 2025.

Document type

Minutes

Source document

City of Barrie Minutes Finance and Responsible Governance Committee Meeting 2026-09-16

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Barrie?

Redwood Builds was awarded this financial services contract by City of Barrie, as recorded on September 16, 2026. The contract value is Up to $3 million; approximately $3 million plus accrued interest remains outstanding.

How much is the Redwood Builds contract with City of Barrie worth?

The Redwood Builds contract with City of Barrie is valued at Up to $3 million; approximately $3 million plus accrued interest remains outstanding, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Barrie Minutes Finance and Responsible Governance Committee Meeting 2026-09-16 (Minutes), dated September 16, 2026 from City of Barrie. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Redwood Builds hold?

Redwood Builds may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Redwood Builds's profile

What is City of Barrie currently buying?

Explore City of Barrie's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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