FINANCIAL_SERVICESAMENDED

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 Park Communities 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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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

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

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Frequently asked questions

Common questions about this contract, answered from the record.

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

Redwood Park Communities 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 Park Communities contract with City of Barrie worth?

The Redwood Park Communities 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 Park Communities hold?

Redwood Park Communities 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 Park Communities's profile

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