ADMINISTRATIVE REPORT

                                                Date: July 3, 1997
                                                File: G062
                                                CC File: 5102

   TO:       Vancouver City Council

   FROM:     Manager of Real Estate Services

   SUBJECT:  East 18th Avenue and Slocan Street - Subdivision and Sale


   RECOMMENDATION

        A.   THAT Council authorize the Manager of Real Estate Services to
             submit a subdivision application for Lot C, Block F, Section
             44, Town of Hastings, Suburban Lands New Westminster District,
             Plan LMP30472, and if approved, instruct the Director of Legal
             Services to sign the subdivision plan on behalf of the City.

        B.   THAT the Manager of Real Estate Services be authorized to sell
             the subdivided lots subject to Council approval of the sale
             terms.

   GENERAL MANAGER'S COMMENTS 

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

   COUNCIL POLICY

   There is no Council policy directly attributable to this matter.

   On July 28, 1994, City Council approved (in part) the following
   recommendations of the Standing Committee on City Services and Budgets:

        "B.  THAT the portions of Lot A and Lot B required for use by the
             Children's Foundation......be transferred from the Property
             Endowment Fund Board to the Capital Fund.

        C.   THAT the Director of Housing & Properties report back on other
             options prior to subdividing and selling these lots."

   PURPOSE

   The purpose of this report is to seek Council approval for subdivision
   approval of the City-owned property at East 18th Avenue and Slocan
   Street (Lot C) and to sell the subdivided lots.


   BACKGROUND

   In 1996, the Children's Foundation was granted a long-term lease at a
   nominal rent of the City-owned site, referred to as Lot D in Appendix A. 
   Previously, they had leased a larger parcel, which was held in the PEF
   and included Lot C and the lane.  Since Lot C and the lane area was
   surplus to the Foundation's needs, Council approved the transfer of Lot
   D into the capital asset fund and instructed staff to report back on the
   remaining PEF site to be sold.

   PRESENT SITUATION

   Lot C comprises an area of approximately 40,040 sq. ft. and is zoned
   RS-1.  Subdivision of this parcel for single family development would
   likely yield 7 lots, based on a 40 foot frontage.

   The neighbourhood is primarily developed with single-family homes. 
   Rezoning to higher density residential use is not recommended from
   either a land use or economic standpoint.

   The Manager of Real Estate Services is of the opinion that the highest
   and best use of this site is subdivision into single family lots, as
   illustrated in Appendix A.

   CONCLUSION

   The Manager of Real Estate Services recommends that a subdivision
   application be submitted and the subdivided lots, if approved, be sold. 
   Staff would report back to Council for approval of the sale terms.

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