et GPE oe

March 7th, 1977

Moved by Alderman Keryluk:

Seconded by Alderman Mabbett:

That as recommended in a report from the City Administrator, March
4th, 1977, Mr. L. Melnechenko, Assistant Engineer, be authorized to
attend the British Columbia Water and Waste Association Conference at
Harrison Hot. Springs, April 17th, 18th, and 19th, 1977;

AND THAT his expenses in connection therewith be paid by the City.
Carried.

From the City Clerk, March 2nd, 1977, concerning the Nu-West Land
Use Contract and Subdivision, and setting forth some of the more salient
features thereof for Council's attention.

Alderman Laking referred to Item No. 3 of the City Clerk's report,
wherein it is proposed that City property will be sold to the Developer
by way of an Agreement for Sale, requiring a down-payment of $44,000.00
on the full purchase price of $144,000.00, with the balance payable on
the date of the final approval of the subdivision of the phase that

includes the City land, but not later then December 31st, 1978, even if

the subdivision for that phase is not approved on that date, and he

suggested interest should be charged on the balance payable.

Moved by Alderman Laking:

Seconded by Alderman Traboulay:

That with respect to the proposed sale of City property to Nu-West
Development Corporat:ion Ltd. by way of an Agreement for Sale, requiring
a down-payment of $44,000.00 on the full purchase price of $144,000.00,

the current rate of interest be charged on the unpaid balance of $100,000.00.
Carried.

Prior to passage of the foregoing resolution, Mr. Don Bigelow, represen-
ting the Developer, advised of his understanding that the City property was
being purchased to relieve the City from being part of its own Land Use
Contract, and the following resolution was then proposed:

Moved by Alderman Keryluk:

Seconded by Alderman Thompson:

That the foregoing proposed resolution concerning the payment of interest
on the balance owing for City property purchased by Nu-West Development
Corporation in connection with its subdivision project, be tabled until March
9th, 1977 pending an investigation into the actual terms of negotiation for
sale of that property to the said firm. Defeated.

Prior to defeat of the foregoing resolution, Alderman Laking advised

/il.

City Clerk re ,
Nu-West LUC,
etc.