— COUNC

MEMORANDUM ~
DEC /@ 1973°

Mayor and Council December 7th, 1979

FROM: L.D. Pollock
‘City Administrator

Re: Sale of Property to Arthur Edwardson

Council may recall that when the land exchange was negotiated
with Mr. Edwardson, involving the old Texaco Service Station site on the
Lougheed Highway, he expressed an interest in acquiring a portion of the
City road allowance to the south of the property. At the time of the trans-
action, I recommended to Council that we close portions of Coquitlam Avenue
and Maple Street, in the vicinity of this property so that the land could be
consolidated with all of the City-owned lands which make up Lion's Park,
Selling a small portion cf this road allowance to Mr. Edwardson would not
interefere with the final Park configuration and any or all of the north
half of Coquitlam Avenue lying adjacent to this land could be disposed of.

“ fa) .

Attached is a small map showing the land configuration. Mr.

Edwardson has expressed interest in buying only a small portion of the land
. at this time but may be interested in purchasing the remainder at some future
date. The portion shown on the map to be conveyed to Mr. Edwardson is only
a suggestion, however, this area is acceptable to him. With regard’ to price,
I would suggest that the rate be set at the same rate that we purchased
property from him, i.e. the rate of $3.80 per square foot. This would make
the sale price in the vicinity of $27300-00.
ye OD oe 7

J£ Council agrees with this transaction, the By-laws and legal
work would have to. be completed, however, Mr. Edwardson could proceed with
the planning of his building on the site — taking into consideration the new
‘property boundaries.

L.D. Pollock