Eby plans $150 million in loan guarantees for Cowichan land owners

VICTORIA - British Columbia Premier David Eby says his government plans to offer private owners of land in the Cowichan Aboriginal title area more than $150 million in loan guarantees, amid fears about the impact of the landmark ruling on their financing.

He says the fund could include $100 million in guaranteed financing for Montrose Properties, the biggest private owner in the Aboriginal title area, and a further $54 million for smaller owners.

Eby says the final amount could be significantly larger because current plans do not yet account for significant "additional commercial activity" in the area.

Montrose, which owns about 120 hectares of the 300-hectare title area in Richmond, B.C., says in legal documents that a previous lender denied it $35 million in financing because of conce