MEMORANDUM

Mayor and Council September 19th, 1975

L.D. Pollock
City Administrator

SEP 22 1975
OCT 27 1975

Purchase of Property - Lynwood Avenue

Council will. recall that we were approached by the owners of property
at 1065 Lynwood Avenue described as Lot 200 of Plan 36681 (Please see

attached sketch). ~(Reverse Srde)-

This property was described as one that should be acquired in conjunction
with our. Nature. Area acquisitions. This parcel is approximately 1.9 acres _
and the owners have agreed to sell to the City for the sum of $36,000.
‘I-understand that they will agree to terms of $20,000. down plus the
._ balance in one year with interest at 11%, however, it may be to our
advantage to pay the total purchase price upon acquisition and thereby
‘gave some $2,000. in interest costs as the money is available in our
‘Tax Sale Land Account.
I would recommend to Council that the purchase price be accepted and that
the funds provided from our Tax Sale Land Account. —

eT ae

a

et _
L.D. Pollock

LDP/w
attach: .
MEMO TO: L.PD. Pollock, City Adminietrator September 25th, 1975

FROM: R.A. Freeman, City Clerk

Re: Purchase of Property -— Lynwood Avenue

With reference to your September 19th, 1975 memorandum concerning the
above-noted subject thia will advise that at the regular Council meeting of |
September 22nd, 1975, a resolution would have accepted your recommendation for
purchase of the property at the price of $36,000.00 failed to receive the support
of a majority of the membera of Council and was therefore defeated.

Oiloinal Signed Sy |

Os

City Clerk