COUNC

SEP ~ 3 1974

REPORT

TO: Mayor and Council DATE: September 6, 1974

FROM: Land Sale Committee

The Land Sale Committee met at the City Hall on Thursday, September 5, 1974. Present
were Chairman Alderman Keryluk, Alderman Laking, City Planner L. Lee and L.D. Pollock
City Administrator. The following items were discussed:

1. Land Sale to G.V.R.L. - Coast Meridian Road

Council will recall that the Land Sale Committee had previously recommended to Council
an appraised figure for the sale of City owned land to the G.V.R.D. as well as an
appraisal for the roadways within the boundaries of the proposed development that will
be transferred to the G.V.R.D. The matter was referred back to the Committee at that
time for further negotiations with the G.V.R.D. staff. Further negotiations have taken
place and we have now received a letter from the G.V.R.D. agreeing to purchase the
total property in question for a total sum of $304,000. This ts based on approximately
120,000 square feet of road allowances at $1.50 a square foot and approximately 62,000
Square feet of City owned land on Toronto Street for $2.00 per square foot making a
total of $180,000. and $124,000. respectively.

This figure corresponds with the appraisal done by City staff and the Committee therefore |
recommends that we offer the City owned land for sale to the G.V.R.D. at the price of
$124,000. and that application be made for the cancellation of the roads within the
boundaries of the development to be conveyed to the Regional District for the sum of
$180,000. Further, that the proposed land swap for a portion of the G.V.R.D. land in
exchange for a portion of the City owned parkland on Fraser Street be agreed to in
principle with the exact area of swap to be determined when plans are submitted by the

G.V.R.D. for their Land Use Contract.

2. Land Sale - 2400 Block Patricia Avenue

The owner of land at 2365 Kitchener Street has made application to subdivide his prop-
erty into residential lots. The property is presently zoned RS-1. In order to conform
with the City's requirements in the subdivision a road allowance is being requested on
this property to connect Scott Street to Patricia Avenue: (see attached sketch).

In order to accommodate this road dedication a small piece of City owned property would
be required by the applicant to provide for a road allowance. This consists of a piece
of land 50 feet by 66 feet from City property. Although this land is City owned it is
at present the extension of Patricia Avenue leading into the City owned park.

The small piece of City owned Property required has a value of approximately $2,500.
and the Committee recommends that the property be dedicated for road allowance upon

payment by the applicant of the sum of $2,500. plus the cost of the legal survey re-
quired to affect the dedication.

LDP :da
attachment