ADMINISTRATIVE REPORT

Date: July 29, 2002
Author/Local Karin Turnbull/7426

RTS No. 2925

CC File No. 5807

Council: September 17, 2002

TO:	Vancouver City Council
FROM:	Director of Real Estate Services
SUBJECT:	Establishment of City Owned Lot in the Unit Block of West 15th Avenue for Lane Purposes

RECOMMENDATION

THAT Council approve the establishment of City-owned Lot - The West 12 feet of Lot B of Lots 7 and 8, Block 53, District Lot 302, Plan 5038 for lane purposes.

The Formal Resolution is submitted concurrently to be passed by Council.

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 in the unit block of West 15th Avenue for lane purposes (Appendix A).

BACKGROUND

The subject lot was acquired by the City in 1956. Upon the establishment of the Property Endowment Fund in 1976, the property was trasferred ino this fund, even though the City Engineer placed a reserve on this lot for lane purposes.

PRESENT SITUATION

The lot is 12 feet wide and 89 feet deep, the zoning is RT-6. Due to this small size the lot is undevelopable.

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 lane purposes. The General Manager of Engineering Services supports the establishment.

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(c) 1998 City of Vancouver