ADMINISTRATIVE REPORT Date: April 17, 1996 Dept. File No. F593 TO: Vancouver City Council FROM: Manager of Real Estate SUBJECT: Property Acquisition for Road Improvements on the East Side of Oak Street at 71st Avenue - 991-995 West 71st Avenue RECOMMENDATION THAT Council authorize the Manager of Real Estate to proceed with the acquisition of 16.4 square metres (176 sq. ft.) of land for road purposes from 991-995 West 71st Avenue, legally described as the common property of Strata Lot 1 and 2, District Lot 319, Strata Plan VR 579 at a total cost of $21,880 plus 3% net GST under the terms contained in the Offer To Purchase and this report. Funding for the acquisition is to be provided from Streets Basic Capital Account No. 12/31/0198/999. GENERAL MANAGER'S COMMENTS The General Manager of Corporate Services RECOMMENDS approval of the foregoing. COUNCIL POLICY There is no Council policy directly attributed to this matter. BACKGROUND Oak Street is a major entry into the City with traffic from the Oak Street Bridge and Marine Drive. At 71st Avenue, traffic from Marine Drive must merge onto Oak Street. This is an awkward merge with bridge traffic over a short distance and has been a problem for B.C. Transit in the past. Road modifications have been made in conjunction with the recent Oak Street Bridge closure to eliminate the merge by providing 3 northbound lanes. As part of this project, property acquisition is required to widen the boulevard for pedestrian space. CURRENT SITUATION The subject property is zoned RM-3A (Multi-family Residential) and improved with a strata titled duplex constructed in 1978. The proposed widening of Oak Street at this location necessitates the acquisition of 16.4 square metres (176 square feet) of land from the frontage of the property. In addition to the permanent loss of land, damages will include loss of landscaping, relocation of existing fencing and proximity damages to the subject building. A historical review of the site indicates no record of contaminating uses. Following lengthy negotiations the owners of 991-995 West 71st Avenue have agreed to sell the required property of the City at a purchase price of $21,800 in full satisfaction of all disruptive factors relating to the City's purchase of the land and on those terms and conditions outlined in the City's Offer to Purchase dated March 5, 1996. The Manager of Real Estate Services considers the acquisition price to represent fair compensation for the property. * * * * *