THE CORPORATION OF THE
CITY OF PORT COQUITLAM

MEMORANDUM

B.R. Kirk August 21st, 1990
City Administrator

R.A. Freeman

City Clerk
Deputy Administrator

SUBJECT: Sale of City Property - 3253 Sefton Street

RESOLUTION:

"WHEREAS the lands hereinafter described are not required for municipal
purposes nor are they reserved or dedicated;

NOW THEREFORE be it resolved that:

1. Lot 38 and Lot 39, Block 4, District Lot 479, Group One, Plan 2145, New
Westminster District, Port Coquitlam, B.C., be sold to B.C. Telephone
Company, 3777 Kingsway, Burnaby, B.C. V5H 3Z7, at or for the price or
sum of $150,000.00, in accord with the conditions stated in the tender
call and ‘:he offer received;

The adjustment date be not later than 15 days after the date the
property is zoned P-4;

The possession date be not later than 15 days after the date the
property is zoned P-4;

The Mayor and Clerk are authorized to execute the documents necessary
for the purpose aforesaid and to affix the Corporate Seal of the City
thereto;

SUBJECT to the proviso that if the property is not rezoned P=4
prior to January 31st, 1991 the proposed sale will be cancelled and
the $4,000.00 deposit paid will be refunded without interest.

BACKGROUND AND COMMENTS:

A copy of the tender received follows and the exact location of the
property is shown on the map section following. The upset price established
by the Council on July 9th, 1990 was $70,000.00 for each of the lots. Only
one other tender was received and this was for only one of the lots and the
offer was $72,900.00.

The proposed rezoning to P-4 has been discussed with our Director of
Community Planning, Carlos Felip, and subject to the completion of the
required procedures he cannot see that it presents any great problem.

ITEM
R.A. Freeman

\Q City Clerk
Deputy Administrator