August 10th, 1981.

On the north-east corner of Stafford Avenue at Shaughnessy Street.
On the north-west corner of Rae Street at Prairie Avenue.
From the City Clerk, August 4th, 1981 referring to a letter

attached from the Greater Vancouver Housing Corporation dated July 13th,

1981 concerming the proposal to construct family. oriented housing units

in the Kingsway and Gately area north-west of the Coquitlam River. Greater Van., :
Housing Kingsway «

Moved by Alderman Wright: and Gately area. |

Seconded by Alderman Keryluk:

That the Greater Vancouver Housing Corporation be advised that City
owned property described as Lot 20, Plan 3106 and a portion of Lot 101,
Plan 58743 would, subject to the provisos herein after contain, be
available to the said Corporation at or for the sum of $12.00 per square
foot:

SUBJECT:

1. To satisfactory completion of the Statutory procedures required
with respect to such Sale, including the Council's right to deal independent-
ly therewith notwithstanding any preliminary committment made by this

resolution.

2. To Satisfactory completion of the required rezoning procedures,

including the Council's right to deal independently therewith notwithstanding
any preliminary committment made by this resolution.

‘3. To the deposit with the City by the Greater Vancouver Housing
Corporation of the sum of $175,000.00 to assist in defraying the cost of a
foot bridge across the Coquitlam. River on the McAllister Stret alignment;
or upon such other alignment in the general vicinity as may be considered
appropriate by the Council it be understood and agreed that the City's
committment with respect to the construction of such foot bridge shall be
discharged when the foot bridge is either constructed or the said amount
or $175,000.00 ts refunded to the Greater Vancouver Housing Corporation.

Carried.

Alderman Muldoon voted against the resolution.

Prior to passage of the resolution quoted above and during the course
of the discussion that ensued thereon Alderman Muldoon suggested that it would
be good business practice to Place a time limit on the City's offer and

Proposed the following amendment: