/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