Vancouver City Council

MOTION ON NOTICE

Submitted by Councillor Sullivan for May 13, 2003 Regular Council meeting

Property Transactions

MOVER: Councillor Sullivan
SECONDER: Councillor Ladner

WHEREAS the revitalization of the Woodwards building is an important priority for the City of Vancouver;

AND WHEREAS Members of City Council acted precipitously in the purchase of the Woodwards building with some members of Council being given less than one day to review the issues on this purchase;

AND WHEREAS the City of Vancouver has yet to receive the detailed consultant's report on the costs of heritage and seismic issues;

AND WHEREAS the City is now responsible for up to $500,000 per year in holding costs with no certainty as to how many years the process will take;

AND WHEREAS it has now been revealed that all unused provincial buildings are being offered to municipalities at half price;

AND WHEREAS most municipalities are taking time to drive harder bargains and force the provincial government to pay the holding costs while they do due diligence and decide what to do with the buildings;

THEREFORE BE IT RESOLVED that all future property transactions be processed with proper due diligence and adequate time for Councillors to review issues.

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