/10. September 9th, 1974

Moved by Alderman Mabbett:

seconded by Alderman Traboulay:

That the Engineering Department be instructed to immediately relocate
the truck prohibition signs on Pitt River Road at the Lougheed Highway and

at Shaughnessy Street where they will provide more advance warning to drivers

of that restriction. Carried.

fe Bldg.& Prot.Comm. From the Building and Protection Committee, September 5th, 1974, setting
7 re guidelines-

apartment forth certain guidelines with respect to apartment development.
7 development

Mayor Campbell agreed to the request of Alderman Mabbett that the report
be deferred for two weeks, and Alderman Mabbett stated he would appreciate re-
ceiving any input from members of Council that can be obtained with respect
thereto.

2 Land Sale Comm. From the Land Sale Committee, September 6th, 1974, advising that fur-

re sale of City

fiand to GVRD ther negotiations have taken place with respect to the sale of City-owned land
to the G.V.R.D. and a letter has now been received from the G.V.R.D. agreeing
to purchase the total property in question for a total sum of $304,000.00 based
on approximately 120,000 square feet of road allowances at $1.50 a square foot
and approximately 62,000 square feet of City-owned land on Toronto Street for
$2.00 per square foot, making a total of $180,000.00 and $124,000.00, respect-—
ively. The Committee, in its report, advised that this figure corresponds

with the appraisal done by City staff.

Moved by Alderman Keryluk:

Seconded by Alderman Laking:

That as recommended in a report from the Land Sale Committee, September
6th, 1974, the City-owned land legally described as Lots 28-42, inclusive,
South-west Quarter Section 6, Township 40, Plan 3167, be offered for sale to
the Greater Vancouver Regional District at the price of $124,000.00, and that
application be made for the cancellation of those portions (approximately
120,000 square feet) of road allowances within the boundaries of the develop-
ment (3100 blocks Ulster and Toronto Streets and 1400 block Fraser Avenue)
to be conveyed to the Regional District for the sum of $180,000.00; further,
that the proposed land exchange of a portion of the G.V.R.D. land for a por-
tion of the City-owned park land on Fraser Avenue be agreed to in principle
with the exact areas to be determined when plans are submitted by the G.V.R.
for its Land Use Contract. Carried.

Alderman Traboulay stated he would like to know when the C.V.R.D. is
going to advertise end display models of the development, and inquired

whether the City has a fund for the monies to be derived from the sale of

the land. The City Administrator advised that the monev would be placed