Vancouver City Council

CITY OF VANCOUVER
ADMINISTRATIVE REPORT

Date:

November 15, 2004

Author:

B Maitland

Phone No.:

7420

RTS No.:

4685

CC File No.:

2201

Meeting Date:

November 30, 2004

TO:

Vancouver City Council

FROM:

Director of Real Estate Services in consultation with the Director of Financial Planning and Treasury

SUBJECT:

Use of City owned property located at 150 Dunsmuir Street

CONSIDERATION

THAT Council approve a grant of $2,500 to First Night 05 Vancouver to offset the rental cost for the parking lot at 150 Dunsmuir Street for December 30 and 31, 2004 and January 1, 2005 for First Night 05 Vancouver activities; source of funds to be the Celebration Grants category.

CITY MANAGER'S COMMENTS

The City Manager submits the foregoing for CONSIDERATION.

COUNCIL POLICY

Approval of grants requires eight affirmative votes.

PURPOSE

The purpose of this report is to seek Council approval for a grant to First Night 05 Vancouver to offset the rental cost for the PEF-owned parking lot located at 150 Dunsmuir Street to accommodate First Night 05 Vancouver activities.

DISCUSSION

First Night 05 Vancouver, of which the City of Vancouver is a founding partner, is preparing to host a New Year's Eve celebration in downtown Vancouver.

The First Night 05 Vancouver celebration requires more room than originally planned and the organizing committee have requested the use of the City-owned parking lot located at 150 Dunsmuir Street (Appendix A). They require the parking lot for three days, beginning December 30^th, 2004 for set up, December 31^st, 2004 for the event and January 1^st, 2005 for tear down purposes (Appendix B).

FINANCIAL IMPLICATIONS

First Night 05 Vancouver has requested the use of the subject property for a minimal fee. However, the property is owned by the Property Endowment Fund (PEF) and Council policy is that the PEF not provide grants. As a result, should Council support this use, it is appropriate to allocate the necessary funds from the Celebration Grants category in the 2004 Operating Budget.

EasyPark, the parking lot operators, estimate the loss of net revenue to the City for the three days to be $2,500.

CONCLUSION

First Night 05 Vancouver has requested a grant to offset the cost of renting the PEF-owned parking lot located at 150 Dunsmuir Street for three days around the New Year's celebration. Current policy suggests this grant should be provided from the Operating Budget (Celebration Grants).

LINK TO APPENDICES A AND B

* * * * *

	Date:	November 15, 2004
	Author:	B Maitland
	Phone No.:	7420
	RTS No.:	4685
	CC File No.:	2201
	Meeting Date:	November 30, 2004

TO:	Vancouver City Council
FROM:	Director of Real Estate Services in consultation with the Director of Financial Planning and Treasury
SUBJECT:	Use of City owned property located at 150 Dunsmuir Street