$93 Million Brampton Youth Justice Facility Project Reaches Financial Close

Infrastructure Ontario, together with the Ministry of Children and Youth Services, and Bird Construction Company successfully achieved the financial close of the new Brampton youth justice facility project on April 27, 2007. The $93 million project involves the financing and construction of a new innovative campus-style youth justice facility, which will replace the Toronto Youth Assessment Centre and the Invictus Youth Centre. The new facility will provide a youth-centred environment and offer a safe, secure and healthy rehabilitative environment for youth in conflict with the law. Construction began in April 2007 and is scheduled for completion by the end of 2008, with commissioning and official opening of the facility expected in early 2009.

Bird GTAYC Inc., an affiliate of Bird Construction Income Fund and Bird Construction Company, was established to build and finance the project. Financing for the project was arranged by CIT Group Securities (Canada) Inc. CIT also served as sole financial advisor to Bird GTAYC Inc. and its affiliates, co-underwriter and administrative agent.

Infrastructure Ontario was represented by in-house counsel Tariq Taherbhai supported by Paul Blundy, Aleksandra Finelli and Scott Martyn of Bennett Jones LLP.

Bird GTAYC Inc. and its affiliates were represented by Tim Baron and Le Huong Troung of Davies, Ward, Phillips & Vineberg LLP.

Chris Bennett, Peter Willis, Catherine Doyle and David Dubrovsky of McMillan Binch Mendelsohn LLP acted as counsel to CIT Group Securities (Canada) Inc. and the lenders. Lilly Wong of Gowling Lafleur Henderson LLP represented one of the members of the lending syndicate.