N

this land is reserved in the future for park purposes it should take
Care 9£ the parks needs in that area.

5. In discussions with the School Board, the Planning and zoning
Comaictee were advised that the school needs of that area are taken care
of.

6. In discusssions with the Department of Housing, the City Administrator
determined that financing of the servicing costs can be obtained through
the Provincial Land Servicing Programe. This Programme makes front-end
money avalla>le to municipalities to install services in subdivisions

and repay the Province out of the proceeds of the sale of the lots,
Front-end financing is therefore virtually assured and the Housing
Departnent are interested in pursuing the project further.

The Committee would like to pursue this development further and the
critical decisicn at this point is whether or not Council would coneider

participating with the Developers in the area of Taylor Street, The
Cocmittee strongly recommends that:

i. That we agree to participate with the Developer in the construction
of Taylor Street to enable the servicing of 18 City-owned 33' lets on
Taylor Street.

ii, That the Comnittee pursue financing of the project with the
Provincial overnzent and report back to Council recommending financing
methods and marketing of the lots created. :

LoP/w
Attach:

| FROM: RLA. Freeman

venonapim «3
/L.D, Pollock
City Administrator

October 22nd; 1976"

. AL: =
: | + cer” V.G, borch, P.Eng.
: City Clerk | . - L. Lee 3

« Chernoff

Re: Development of Lots - Taylor Street

With reference to the October 7th, 1976 report of the Housing Cornittee
concerning the above noted subject, this will advise that at the Tegular
Council necting of October 18th, 1976 the following two resolutions were
passed:

.
“That as recommended in the October 7th, 1976 Yeport of the Housing
Committee, the City agree to participate with the Developers in rhe
construction of Taylor Street to enable the servicing of 18 City-owned
33' lots on Taylor Street."

“That as recommended by che Housing Comittee in its October 7th, 1976
report, the Comnirtce pursue financing of the Yaylor Street projese with

the Provincial Government and report back to the Council with a recommendation

for financing methods and marketing’ of the dots created."

Ongina) Signed Dy * |

LGD

os -

rn ‘City Clerk

<i COQg,
S “OTN
g oS

IS enginesting &
>= Department 9

0CT 22196 9

4

eee

Ms"

moe

I

a

ad

telson,

are

saben 3

Tow. =

asi