wom VOUNC

DEC 20 4976

-Mayor and Council “December 16th, 1976

Finance Committee

Earlier this year the question of revising the Parks Acquisition and Development

Fee was referred to the Finance Committee for report. At that time, the Committee
made an interim report that the Fee be raised to $450.00 and reported that a

further recommendation would be made after an extensive review.

The Planning Officer has submitted a cost analysis of park acquisition and
development and this report indicates that the cost per dwelling unit should
_be in the neighbourhood of $828.00 in order to give us an adequate fund for

park acquisition and development.

The Committee endorses this report and would recommend that the present Fee being
charged for parks acquisition be increased from $450.00 per unit to $800.00 per
unit effective January 1977 and that a By-law amendment be prepared,

A copy of the Planning Officer's report is attached.