LATER OFFICE “InMO a ik
Twi Reet”

Mayor and Aldermen DATE: January 18th, 1974

FROU: R.A. Freeman, City Clerk C.c.

Re: Lane Closure - North of Lougheed Hishwav

The Council will recall that at the meeting of January 14th, 1974 the following
resolution was passed:

"That the City Assessor appraise the fair market value of the portion of lane North
of the Lougheed Highway and adjoining Lot 77, Plan 42867 to the East, and that the same
be offered for sale at the appraised fair market value price."

A copy of the Assessor's memorandum to us dated January 17th, 1974 is attached and
the Council will note that the value placed on the property is $4,000.00.

May we please have the Council's approval to include the $4,000.00 figure as the
upset price when we post the public sale notice or, alternatively, we would request that

the Council issue whatever other instructions it considers appropriate in the circumstances.

Legally, it is only required that the public sale notice be posted at the Municipal

Hall and at the Justice Building, but we think it would be appropriate to forward a copy
of the sale notice to the owners of the property, both on the East and West — Pulsar

Holdings Ltd. and Imperial Gil Ltd. If Council wishes, of course, the sale could be

advertised in the newspapers.

City Clerk

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attachment.