PEE
Sepik

S #26/91
March 2, 1993

G. Ross Elliott

_ Freemont Holdings Lid.
10 - 9500 Erickson Drive
Bumaby, B.C.
V3J 1M8

Dear Sir:

SUBJECT: SUBDIVISION OF LOT 1 PLAN 9164 PART OF LOT 8 PLAN 4318 AND PART
OF LOT A PLAN 5345

I have reviewed your letter dated February 10, 1993 regarding the parks requirement for the
above subdivision. _ | |

As you have pointed out $109,181.00 was paid as a 5% in lieu of park dedication payment and
‘the development cost charge for parks was paid in the amount of $72,545.00. Our review shows
that a portion of the DCC parks requirements included land in the Riverwood area. The City is
therefore reimbursing Freemont Holdings Ltd. the amount of $72,545.00 for parks DCC’s. As
“these. specific parks have been identified in the Riverwood area control plan based on the 5%
- land dedication or cash in lieu of park dedication, the 5% park dedication will be applied to all
developments in the Riverwood area. — | | | _
_. If you have any further questions please do not hesitate to contact me.

Yours very truly,

LR. Zahynacz, P. Eng.
_ CityEngineer

K. Janna Taylor, Parks and Recreation Director
BR. Kirk, City Administrator
J. Maitland, City Treasurer Coe!

J.E. Yip, P. Eng., Deputy City Engineer

C.F. Morris, Engineering Technician

- ENGEB2802