Grant to Coast Foundation Society: Purchase of 1455 East 14th Avenue

A. THAT Council approve a grant of $315,000 to the Coast Foundation for the purchase of 1455 East 14th Avenue, representing approximately half the cost of the acquisition, subject to Coast entering into a Housing Agreement restricting the use and future development of the site and the adjacent site that Coast owns at 1435 East 14th to non-market housing for core-need households operated by a non-profit housing society, with the source of funding to be City-wide Development Cost Levies allocated to replacement housing.

B. THAT no legal rights or obligations shall arise or be created from approval of A above until all the required legal documentation is executed in full and on terms and conditions to the satisfaction of the Director of Legal Services.

The Administrative Report dated May 26, 2008 , refers.

Lease of Vancoeverden Court - 1099 Sitka Square

A. THAT Council approve an assignment of the ground lease for Vancoeverden Court, 1099 Sitka Square (PID: 007-592-621, Lot 24 False Creek, Plan 16003) to the New Chelsea Society (“New Chelsea”) which has a term of 60 years that commenced September 30, 1976, terminating on September 30, 2036, and on such other terms and conditions to the satisfaction of the Director of Legal Services.

B. […].

C. THAT no legal rights or obligations shall arise or be created from A or B above until all the required legal documentation is executed in full on terms and conditions to the satisfaction of the Director of Legal Services.

D. THAT the Mayor on behalf of Council write the Board of the Je Mainteindrai Home Society to express the City’s appreciation for their role in developing Vancoeverden Court and operating it successfully for the past 30 years.

The relevant report remains sensitive and cannot be released.

Acquisition and Lease - 514 Alexander Street

A. THAT Council approve the purchase of 514 Alexander Street, legally described as Parcel Identifier: 015-603-130, Lot 8 Block 42 District Lot 196 Plan 196, at a purchase price of $860,000 plus $3,000 for environmental assessments with the funding to be provided from the Single Room Accommodation Reserve.

B. THAT Council approve leasing the property to Lookout Emergency Aid Society for a term ending March 3, 2053, a fully nominal prepaid rent, and with Lookout Emergency Aid Society responsible for all repairs and maintenance and for the all utilities, fees and insurance.

C. THAT no legal rights or obligations shall arise or be created until all legal documentation has been executed in full and on terms and conditions to the satisfaction of the City’s Director of Legal Services.

The relevant report remains sensitive and cannot be released.

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Where these brackets [ … ] appear, information remains sensitive and cannot be released.