ADMINISTRATIVE REPORT


                                                  Date:  September 24, 1996
                                                  Dept. File: F955, F956,  
                                                              F976, F980   


     TO:       Vancouver City Council

     FROM:     Manager of Real Estate Services

     SUBJECT:  Sale of Residential Lots -
               3527, 3566, 3567 and 3576 Petersham Avenue



     RECOMMENDATION

          A.   THAT Council accept the Offer to Purchase City-owned Lot 13
               NE 1/4 of District Lot 339, Plan LMP 27811 (PID 023-387-858)
               from Sona Developments Ltd. in the amount of $270,000.06
               under the terms and conditions contained in the City's
               "Offer to Purchase" tender form.

          B.   THAT Council accept the Offer to Purchase City-owned Lot 14
               NE 1/4 of District Lot 339, Plan LMP 27811 (PID 023-387-866)
               from Mrs. G. Pangly in the amount of $270,000.06 under the
               terms and conditions contained in the City's "Offer to
               Purchase" tender form.

          C.   THAT Council accept the Offer to Purchase City-owned Lot 34
               NE 1/4 of District Lot 339, Plan LMP 27811 (PID 023-388-111)
               from David Hawrish in the amount of $267,100 under the terms
               and conditions contained in the City's "Offer to Purchase"
               tender form.

          D.   THAT Council accept the Offer to Purchase City-owned Lot 38
               NE 1/4 of District Lot 339, Plan LMP 27811 (PID 023-388-153)
               from C.W. Yeung and Agnes Chan in the amount of $267,000
               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
          A, B, C and D.

          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 offers to purchase City-owned property at 3527, 3566, 3567 and
     3576 Petersham Avenue (Appendix A).


     BACKGROUND

     On January 17, 1995, Council approved in principle to reŸsubdivide the
     property at 46th Avenue and Arlington Street, and once the subdivision
     was registered and the lots fully serviced, for the Manager of Real
     Estate Services to sell the newly created lots by tender.

     Forty lots were created, all held in the Property Endowment Fund and
     are zoned RS-1 (one-family dwelling district).

     The lots were advertised for sale by tender with closing dates of June
     24, 1996 for the first 11 lots and August 26, 1996 for the balance. 
     To date, 18 lots were sold.


     PRESENT SITUATION

     Further offers are now received and opened every Tuesday at 9:30 a.m. 
     The following offers are deemed to represent current market value and
     are recommended for acceptance by the Manager of Real Estate Services.

          Lot #        Amount          Purchaser

           13       $270,000.06    Sona Developments Ltd.
           14       $270,000.06    Mrs. G. Pangly
           34       $267,100.00    David Hawrish
           38       $267,000.00    C. Yeung and Agnes Chan


     The Manager of Real Estate Services will be accepting offers on the
     remaining tendered lots and will report to Council for approval of
     acceptable offers.



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