The Comox Valley Regional District and Union Bay Improvement District have achieved "basic concurrence on a framework" for a water supply agreement related to the proposed Kensington Island Properties development.
The two organizations have discussed the matter at length. If necessary, they will reconvene Wednesday for further review around wording of the agreement.
An apparent clause in the Master Development Agreement, which the CVRD board ratified in 2010, calls for a transfer of the water licence to the regional district, to which the UBID has been objecting.
Kensington has planned to build houses, a golf course, a marina walkway, and a series of parks and trails since purchasing 1,000-plus acres in Union Bay more than 10 years ago.