T. F, ROOTE LTD,

PROPERTY MANAGEMENT

1830 MARNE Drive, BUSINESS MANAGEMENT

WontH VANCOUVER, ac,

3. 983-9256 LIC 7/ Gag. fi!

The Corporation of the City of Port Coquitlam,

2272 McAllister Avenue,

Port Coquitlam, B.C,

ATTENTION: Mr. K, J, Stinson, Planning Technician

We would refer you to Mr. Freeman's letter to this Company, dated June 30, 1971. We would also refer you to your approval letter

of July 16, 1972, . Although we regret that the City does not wish, at this time, ta Cevelop both sides of Kennedy Street it is our intention to proceed with the sub-division ef Lots A and B as outlined in your approval letter of Juty 16, We would Suggest that this would be the first phase of development, namely, the development of Lincoln Oxford and Patricia Streats. The second phase of development will be the development of Kennedy Street.

As indicated in mr, Freeman's letter we would appreciate a further meeting to discuss cost sharing and development of Kennedy Street, We would like to this Upon your return from holidays.

May we suggest further that we develop Lot 30 in the first phase

and Lot 3 in the second Phasc. Both of these lots Presently encroach

slightly on Lot 203 to the east and lay over g portion of the proposed cancelled Kennedy Street.

We find that the sum mentioned in Mr. Preeman's letter, $34,500.00 is approximately 50% higher than the market values of Lots A and 3, However, based on this Price this Company would owe the City approximately $1,100.00 (2,600 Sq. Fe. at 42¢ per Sq. Ft.).

The deveboment on Lincoln Street would stop at the easerly boundary of Lot 30 unless an arrangement to subdivide the jand east of

Continued... . ees

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The Corporation of the City of . Port Coquitlam

August 16, 1977

Kennedy Street can be negotiated and agreed to, We would appreciate hearing from you. Yours very truly, T. F. ROOTE LTD, TE Roste af TF. Rove (O*" ”

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TFRimcy

®.S. We would appreciate that all further correspondence in this Project be diracted directly to this office,

Yours very truly, TFR

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