Reappointment to Vancouver Police Board

THAT Sheryl Williamson be reappointed to the Vancouver Police Board for a two-year term ending June 30, 2014.

The memorandum dated April 19, 2012, refers.

E-Comm Board Appointment for 2012-2013 Term

THAT Council appoint Dr. Penny Ballem as the City’s representative to the E-Comm Board of Directors for the 2012-2013 term.

The Administrative Report dated April 27, 2012, refers.

Sale of City-owned lands located at 1412-1450 Howe Street, 1410 and 1429 Granville Street, and adjoining lane

A. THAT Council authorize the Director of Real Estate Services to enter into a sole source contract of purchase and sale (the “Sales Contract”) with Howe Street Ventures Ltd. (“Westbank”) to sell the City owned lands at 1412-1450 Howe Street, 1410 and 1429 Granville Street, and a portion of lane as legally described in Appendix A, (the “Subject Lands”) of the Administrative Report dated April 25, 2012, entitled “Sale of City owned lands located at 1412-1450 Howe Street, 1410 and 1429 Granville Street, and adjoining lane”, for a sale price of $32,444,621 which reflects premium assembled value for the Subject Lands, such Sales Contract being subject to the Subject Lands being rezoned through the City’s normal regulatory process, it being noted that Council decision to enter into a Sales Contract with Westbank will not in any way limit Council or the City and its officials, including the Approving Officer, in exercising their regulatory discretion with respect to any related rezoning or permitting. The sales proceeds to be credited to the Property Endowment Fund (PEF) under the terms contained in the Sales Contract and this report.

B. THAT the sale of the lane portion of the Subject Lands will be subject to the further condition that Council has approved the stopping up, closure and conveyance of such portion of lane to the abutting owner.

C. THAT one of the surviving conditions of sale is that should a development permit
not be issued and construction has not commenced within 5 years of the “Effective Date” of the Sales Contract, the City shall have the option to re-acquire the Subject Lands from Westbank for the same amount as the sale price.

D. THAT no legal rights or obligations will arise or be created between Westbank and the City unless and until a legally binding Sales Contract is successfully negotiated, executed and delivered by Westbank and the City through its authorized signatories, the Director of Legal Services and the Director of Real Estate Services.

E. THAT Council approve a predevelopment and rezoning cost budget for a 50% share of the actual costs of predevelopment and rezoning, to be shared between the City and Westbank, up to a maximum City contribution of s.17(1, plus applicable taxes; source of the funds being the PEF.

The Report dated April 25, 2012, refers.

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