August 10th, 1981.

From the City Clerk, August Sth, 1981 referring to the proposed
development of a 21 unit townhouse complex at the south west corner
of Shaughnessy Street and Pitt River Road and advising that a Road
Closure By~law and a Zoning By-law had been prepared and were available
for initial consideration. Additionally, the City Clerk advised that
the Land Sale Committee was recommending that City property in the area
be sold to the Developer at the price of $7.00 per square Foot and he
requested confirmation by the Council of this recommendation and inquired

of any specific instructions that Council may have with respect to the

advertising of such sale. City Clerk:
21 Unit Town-

Moved by Alderman Wright: house, and gale
of City property.

Seconded by Alderman Keryluk:

That, subject to completion of the required Statutory procedures
respecting advertising and receipt of alternate Proposals from interested
individuals, the City property located at the south west corner of
Shaughnessy Street and Pitt River Road shown on the Map attached to the
City Clerk's memorandum of August 5th, 1981 be offered for sale to the
prospective developer at a price of $7.00 per square foot.

Carried.

Prior to passage of the resolution quoted above, Alderman Muldoon
inquired as to the appropriateness of the amount being charged and
Alderman Wright advised that although it was slightly less than the
appraised price it was thought proper to do this due to the desirability
of having the proposed project proceed as presently proposed. Alderman
Mabbett questioned the wisdom of proceeding with the proposed development
prior to establishing a policy regarding apartment construction on Advertising -

rei:sale of City

Shaughnessy Street and Alderman Keryluk outlined the reasoning of the Land.
Planning & Zoning Committee in this regard.

Alderman Muldoon proposed that the sale should be advertised in the
local newspapers to ensure adequate notice is given of the Property's

availability aad to this Mayor Laking and Alderman Wright agreed.

Moved by Alderman Muldoon:

Seconded by Alderman Wright:

That all sales of City Land be advertised in the Herald and Columbian

Newspapers in addition to the postings legally required.

Defeated.