ADMINISTRATIVE REPORT

Date: January 2, 2002
Author/Local: KTurnbull / 7426

RTS No. 2484

CC File No. 5807

Council: January 22, 2002

TO:	Vancouver City Council
FROM:	Director of Real Estate Services
SUBJECT:	Establishment of City Owned Lot at 800 Quebec Street for Road Purposes

RECOMMENDATION

THAT Council approve the establishment of City-owned Lot 18, District Lot 2037, Plan 5568 for road purposes.

The Formal Resolution is submitted for Council's consideration later this day.

GENERAL MANAGER'S COMMENTS

The General Manager of Corporate Services RECOMMENDS approval of the foregoing.

COUNCIL POLICY

The authority for establishing streets and lanes is set out in Section 291 of the Vancouver Charter.

PURPOSE

The purpose of this report is to request Council approval to establish City-owned property at 800 Quebec Street (Lot 18) for road purposes (Appendix A - map on file in City Clerk's Office).

BACKGROUND

Lot 18 was Crown granted to the City in September, 1925. Upon the establishment of theProperty Endowment Fund in 1976, the property was transferred into this fund, even though there was evidence that prior to the Georgia Viaduct construction this lot was used as road as an extension to Prior Street and of little economic value.

PRESENT SITUATION

Currently portions of the Georgia Viaduct and the off-ramp to Main Street are contained in Lot 18. There are also significant underground utilities making this lot undevelopable. The utilities are protected by a blanket statutory right of way registered on title.

CONCLUSION

As there is no value to hold a property in PEF which cannot generate any revenue, the Director of Real Estate Services is of the opinion that this property should not be held in PEF but be established for road purposes.

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(c) 1998 City of Vancouver