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NU-WEST DEVELOPMENT CORPORATION LTD.

Mayor Campbell and Council
City of Port Coquitiam
February 4,

PAGE TWO

3. Continued

Since the issuance of Occupany Permits is phased, the additional
interest costs arise because a large sum of money will be

tied up far in advance of work proceeding on the latter phases.
Even after considering that the bond amount would be reduced

as work is completed, the additional interest costs of one deposit
instead of phase deposits is approximately $79,600. or $373.

per lot.

This is an unnecessary cost which is of no benefit

to the City nor to the subdivision.

Thankyou for your consideration of this matter.

Yours very truly,
8 hol

Alvin P. Schellenberg .
Pro¥ect Manager - Residential

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APS/pls
Enclosure