THE CORPORATION OF THE
CITY OF PORT COQUITLAM

25 1999

B.R. Kirk June 22nd, 1990
City Administrator

R.A. Freeman

City Clerk
Deputy Administrator

SUBJECT: Sale of City Property - 2401 Hawthorne Avenue

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 "F" (except Plans 17598 and 19890), District Lots 174 and 289,
Group One, Plan 5086, New Westminster District, Port Coquitlam, B.C. be
sold to Adera Equities Inc., 610 ~- 1111 Melville Street » Vancouver,
B.C. V6E 3V6, at or for the price or sum of $661,000.00, in accord with
the conditions stated in the tender call and the offer received;

The adjustment date be June 21st, 1991, or earlier as stated in the
tender call and the offer received;

The possession date be June 21st, 1991, or earlier as stated in the
tender call and the offer received;

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.

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 p%ice established
by the Council on May 28th, 1990 was $650,000.00. No other tenders were
received.

As Council members are aware, an apartment development is proposed for
the site.

l

Deputy Administrator

R.A. Freeman
City Clerk