ADMINISTRATIVE REPORT

                                                       Date: March 28, 1996
                                                       Dept. File No. A118 


   TO:       Vancouver City Council

   FROM:     Manager of Real Estate

   SUBJECT:  Sale of Residential Lot:  2710 MacDonald Street


   RECOMMENDATION

        THAT Council accept the Offer to Purchase City-owned Lot G, Block
        81, District Lot 540, Plan LMP 25482 (PID 023-217-952) from
        Heartland Homes Ltd. in the amount of $235,500 under the terms and
        conditions contained in the City's "Offer to Purchase" tender form.


   GENERAL MANAGER'S  COMMENTS

        The General Manager of Corporate Services RECOMMENDS approval of
        the foregoing.


   COUNCIL POLICY

   The Vancouver Charter section 190 (b) authorizes Council to dispose of
   City-owned property deemed to be surplus to the City's needs.


   PURPOSE

   The purpose of this report is to request Council approval to accept the
   offer to purchase City-owned property at 2710 MacDonald Street (Appendix
   A).


   BACKGROUND

   On April 25, 1995 Council approved the dedication of a 2.134 m (7 ft.)
   strip of this lot for road purposes and once the subdivision plan was
   registered, for the Manager of Real Estate to sell the remaining parcel
   by Tender.


   PRESENT SITUATION

   The lot is held in the Property Endowment Fund and is zoned RS-1A
   (one-family dwelling district).

   The property was advertised "For Sale by Tender" March 8, 9 and 10, 1996
   with a tender closing of March 25, 1996.  Three offers were received and
   the Manager of Real Estate Services deems the offer from Heartland Homes
   Ltd. in the amount of $235,500 to represent current market value and
   recommends the offer for acceptance.




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