June 24th, 1974

' proposed:

Moved by Alderman Ranger:.

Seconded by Alderman Thompson:

That Mr. William Casson and other representatives of the G.V.R.D.””
Housing Department be permitted to speak at this time to the proposed G.V.R.D.
housing development on Coast Meridian Road at Prairie Avenue referred to in:

Item 3 of the City Administrator's report, June 2st, 1974. Carried.
Alderman Traboulay voted against the resolution.

On invitation of His Morship the Mayor, Mr. Casson then spoke to the
meeting, statng he had not come this. evening to make a further presentation,
but rather to reiterate his request of two weeks ago that the G.V.R-D. Hous~
ing Department be allowed to proceed with the project in the manner outlined
at that time. -

In the report.from the City Administrator, qune 21st, 1974, concerning

_the possible swap cf City-owned 33! lots for. the G.V.R.D. housing development
site on Coast Meridian Road at Prairie Avenue, it was pointed out ‘that al--
though the proposel met with some interest by its offi cials, the G.V.R. be ts
limited by the following constraints:

1. Although they do not own the land at the present | time they are acquir—
ing land from the Provincial Government for a specific type of housing pro-
ect which will meet the aims of the Provincial, Lovernment.
2, Financing wi i be obtained through Central Mortgage and Housing undér
N.H.A. which will cover virtually 190% of the cost of the housing and will
enable the C.V.RD. to offer housing at cost to the public. There are de~
finite Limitations imposed by Central Mortgage and Housing on the value of
the land component included with each unit. The per unit cost of. the Ful =
serviced land must be in the neighhouzhiood ¢ of $6,008. to . $7, 000. per unit.
3. There are definite econoniies in constructing the development - in one”
location; these econoules would be lost if they have to disburse the construc~
tion on even two or three separate sites. In addition, this type of develop
ment will require continual management and there would be some e advantage in |
future managewent if the project was located on one site as proposed.

The City Administracor, in‘his report, further advised that after a review

it was obvious that the only land avai lable for exchange would be larger _&

City-owned parcels which are, at present, subdivided into 33' lots. but are .

unserviced and, in summary , he mentioned the following appears to be the

obstacles in the way of the proposed exch ange of lands