ewes  QOQUNCIL

JUN 26 1978

Mayor and Council June 22nd, 1978

L.D. Pollock
City Administrator

Re: Greater Vancouver Housing Corporation ~ Land Use Contract

In our Land Use Contract with the Greater Vancouver Housing
Corporation for their development on Coast Meridian Road, the Housing
Corporation made a substantial contribution to our Water Capital Fund, a
sum in excess of $600. per unit. This money was used for the construction
of a. large watermain along Coquitlam Avenue. In the Land Use Contract, the
Municipality acknowledged this contribution and agreed that we would use
our best offices to recover the funds from three possible developments in
the area and refund a portion to the Housing Corporation to help offset
their contribution. The three sites were the site to the north of the
housing development which has since been occupied by a commercial development;
the parcel directly to the south of the Woodside Estates development which
was planned for a multiple development; and the parcel of land on the south-
west corner of Coquitlam and Coast Meridian which has not yet been developed.

gr eh ae doh an Wan ga ate AU Se

As the site to the north of the development has developed as
a commercial site, the $300. per unit did not apply and therefore the
Housing Corporation could not expect refund from this particular development.

The land to the south of Woodside Estates has proceeded and their
development has contributed the sum of $12,600. towards the Water Capital
Fund. This development was carried out by Trinoda Holdings Ltd.

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STERN eer

As pointed out, the third site in question on the west side of
Coast Meridian has not yet developed and the three year time limit set out
in the G.V.R.D. Land Use Contract has expired as of May, 1978.

The Trinoda Holdings Ltd. Land Use Contract was completed within
the three year time limit, however, and it would appear that Council should
consider turning over the $12,600. contribution received from Trinoda to
the G.V.R.D. as agreed. .

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L.D. Pollock