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THE CORPORATION OF THE
CITY OF PORT COQUITLAM

MEMORANDUM

TO: Mayor and Aldermen December 17,
FROM; Land Committee
SUBJECT: Kilmer House

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RECOMMENDATION:

City Council approve the Purchase of Kilmer House as
ined under Project Cost #IV contained in this report.

BACKGROUND AND COMMENTS:

On September 22, 1986 the following resolution was passed:-
"That the City Administrator meet with the owner of Kilmer
House to proceed with negotiations regarding the purchase of
The house." . mS .

On October 20, 1986 the following resolution was tabled pending

a renovation study on the building.

"That the City purchase the Kilmer House for the sum of
$150,000.00; |

AND THAT the funds be taken from the Tax Reserve Account."

Attached is a copy of the renovation Study. The study done by
Baker McGarva Hart advises that for the approximate cost of
$35,000.00 the City could upgrade the building which would
extend the use from two floors to three. (tenancy on 2 floors
only). 9 =

The study outlines 2 options for full utility of all three
floors: .

Option. A | $133,172.00
Option B $156,272.00 -

The only difference between A & B is the cost. of.moving and
raising the house 40' north, if done, this would:

Create additional useable space in the basement.
Create an extra lot which could be sold for approximately

$40,000.00 thereby making the actual cost of Option B
$116,272.00.

Bae
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