THE CORPORATION OF THE CITY OF PORT COQUITLAM UJ

AUG 10 198)

MEMORANDUM

Mayor and Aldermen August 4th, 1981.

R.A. Freeman,
City Clerk.

Re: Greater Vancouver Housing Corporation Project — Kingsway at Gately

At a meeting held on July 27th, 1981 the City's Land Sale Committee
considered. the attached July 13th, 1981 letter from the Greater Vancouver Housing
Corporation respecting the above noted subject.

The Committee considered that, subject to a number of provisos, the
$12.00 per square foot offer for City owned land in the area was reasonable and
could be accepted by the Council.

The extent of this sale is shown on the map attached and if Council
wish to provide the G.V.H.C. with the preliminary indication requested on the
availablity of City Owned land may we suggest that consideration be given to the
following resolution:

"That the Greater Vancouver Housing Corporation be advised that City
owned property described as iot 20, Plan 3106 and a portion of Lot 101, Plan
38743 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 independently
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 Street 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 constructicn of such foot bridge shall be discharged when the
foot bridge is either constructed or the said amount of $175,000.00 is refunded
to the Greater Vancouver Housing Corporation."

‘

City Clerk.