THE CORPORATION OF THE CITY OF PORT COQUITLAM C 0 U N (; | [

MAY 10 1982

TO: Kirk May 6th, 1982.
Administrator

FROM: Freeman
Clerk

SUBJECT: Sale of City Property located north of Chelsea Avenue

RECOMMENDATION:

That consideration be given by the Council to passage of the
following resolution:

"That the west 40.4 ft. (12.313 metres) of Lot 382, South West
Quarter, Section 7, Township 40, Plan 60681, New Westminster District be and
the same is hereby sold to A.J. Ricard and Associates Corp., 2664 Kingsway
Avenue, Port Coquitlam, B.C. at or for the price or sum of $46,138.00:

SUBJECT!

1. To the reconsideration, final passage and adoption of Road Exchange
Bylaw No. 1907, and

2. To the reconsideration, final passage and adoption of Zoning Amendment
Bylaw No. 1908, and

3. To the conveyance to the City by the said A.J. Ricard and Associates
Corp., for the sum of $1.00, of that portion of Stratford Street stopped up and
closed tm traffic by Bylaw No..1907 that comprises the northerly 11,100, sq. ft.
(1,032 sq. metres) thereof, and

4. To the completion of the transaction prior to July 20th, 1982;

AND THAT His Worship the Mayor and City Clerk be authorized to execute the
necessary plans, deeds, or other documents require for the purpose aforesaid
and to affix the City's Corporate Seal thereto."

BACKGROUND AND COMMENTS:

The land referred to in the resolution quoted above was the subject
of a tender call issued on April 28th, 1982 and at the time stated thereon as
the closing time for receipt of tenders - 12:00 o'clock noon on Thursday, May
6th, 1982 - the tender from A.J. Ricard and Associates Corp. was the only one
received and the amount tendered was the exact amount of the upset price stated.

wesee/2.