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LAS2007-111

Asset Management & Capital Works Report toCouncil2007 June 25

PROPOSED AMENDMENT TO PREVIOUSLY AUTHORIZED INITIATION OFEXPROPRIATION - DOWNTOWN COMMERCIAL CORE - WARD 8 ALD. KING

C 2007-48Page 1 of 2

FILE NO: 838—4 AVENUE SW (SQ)

SUM MARY/ISSUEAmendment to previously authorized Initiationof Expropriation.

PREVIOUS COUNCIL DIRECTIONIPOLICY2007 February 13 Council approvedLAS2007-12, Proposed Initiation ofExpropriation — Downtown Commercial Core.

INVESTIGATIONThe amount of the previously approvedProposed Payment needs to be amended tothe new appraised value of $11000O0. Thepreviously approved Proposed Payment wasbased on a value for land only with noconsideration given to the income stream

At the time of the valuation in November2006 we did not have the benefit of gainingaccess to the property or obtaining copies ofthe Owners income/expense statement forthe property The appraisal that has just beencompleted and forms the basis of ournegotiations with the Owner takes intoaccounflhe.tirrent condition and the mostrecent income statements for the property.The Notice of Intention to Expropriate wasfiled at the Alberta Land Titles Office on 2007April 03. The Owner served The City with aNotice of Objection to the intendedExpropriation on 2007 April 23. An Inquiry

Officer was appointed to conduct the Inquiryon 2007 April 26. The Inquiry Officerscheduled the Inquiry for 2007 June 7 and 8.

During the time period leading up to theInquiry both Corporate Properties & Buildings(CPB) and Law made several attempts tocontact the solicitor for the Owner regarding apotential Section 30 Agreement On eachattempt that was made the solicitor ihdecatedthat the Owner had no desire to enter intosuch an arrangement and they wished tomove forward with the inquiry

It was dunng this time period that both theOwner and CPB were having independentappraisals completed to be used in potentialfuture negotiations Inquiry Briefs weresubmitted to the Inquiry Officer by both theCity’s Law Department and the Owner ssolicitor on 2007 June01 copies of whichwere delivered to the lawyer for each partyThe appraisals for both parties were alsocompleted at about this same time. TheOwner’s solicitor contacted CPB and Law on2007 June 06, requesting that, based on theirreview of The City’s Inquiry Brief and theappraisal they had received, an agreement byway of Section 30 of the Expropriation Act(Alberta) be reached.

IMPLICATIONS

GeneralApproval of the amended Proposed Paymentwill allow CPB to proceed with concluding theSection 30 Agreement. Completion of theSection 30 Agreement will allow forpossession of the property at the end of July2007, which in turn will allow forredevelopment of the site to occur in a timelyfashion. Development of this site will provideThe City with the ability to combine market!affordable housing and Fire/EMS services inone development. This type of development

ADMINISTRATION RECOMMENDATIONS:

That Council:

1. Authorize the amendment topreviously authorized Initiation ofExpropriation as outlined inAttachment 2; and

2. Direct that C2007-48 be dealt with atthe in camera session of the 2007June 25 Regular Council Meeting.

Approved by: GM 8. Stevens, Director S Purvis, Manager L Craig, Author SQuayle

Asset Management & Capital Works Report toCouncil2007 June 25

PROPOSED AMENDMENT TO PREVIOUSLY AUTHORIZED INITIATION OFEXPROPRIATION - DOWNTOWN COMMERCIAL CORE - WARD 8 ALD. KINGFILE NO: 838—4 AVENUE SW (SQ)

C 2007-48Page 2 of 2

helps to achieve smart growth by reducingthe necessary footprint required to achievespecific priorities.

SocialAchieving an agreement by way of Section 30will enable The City to replace the existing 1st

Avenue affordable housing project that is inneed of upgrading.

EnvironmentalThe property has been reviewed inaccordance with The City of Calgary’s Sales,Acquisitions and Leases Environmental(SALE.) Policy. No concerns were identified.

Economic (External)The creation of a comprehensivedevelopment it limits the need for new landand outward growth. The City’s leadership onCity owned property can serve as an exampleto other property developers as how creativesolutions can be financially feasible andpractical.

BUSINESS PLANIBUDGET IMPLICATIONSFunds are available in Fire Program 041.

The Proposed Payment represents theappraised market value of the Property anddoes not include other compensation whichthe Owner may ultimately be entitled topursuant to the Expropriation Act (Alberta).

RISKSNot approving the amended ProposedPayment amount will require that The Cityabandon the current Expropriation andreinitiate a new expropriation to allow theowner the opportunity to have their inquiry.Having to abandon the current expropriationand reinitiate will further delay possession ofthe property and redevelopment of the site.

VALUATIONThe negotiated price of the Property wasbased on an external appraisal and has beenapproved by Corporate Properties & BuildingsValuations Committee comprised ofaccredited appraisers. The comparable salesanalyzed are included in Attachment 4.

ATTACHMENTS1. Site Map2. Recommendations3. Comparable Data Chart4. LAS2007-12

Approved by. GM B Stevens, Dtrector S Purvis. Manager L Craig, Author S.Quayle

RECOMMENDATIONS:

ATTACHMENT 2C 2007-48

That Council authorize the proposed amendment to Recommendation 3 ofLAS2007-12:

(d) PROPOSED PAYMENT

$1 100000

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C2007-48ATTACHMENT 1

PROPOSED AMENDMENT TO PREVIOUSLY AUTHORIZED EXPROPRIATION

DOWNTOWN COMMERCIAL CORE - WARD 8 (AW. KING)

j-’tc Lc

C200748ATTACHMENT 4

PROPOSED 3TRTIC. OF PRO O— DC’J O’N

COMMERCiAL CORL V4RD 8 ALD KNG1 flF ti & 4

AVENUE Sw’i S

SUMMAR SSUE

Neotator’s to acaue t’e prcerty .o n succes T

requred fo’ a west dowrtor proposed fe stat o nd aet affordabie hos r: p 0 ect

ADPAtNtSTRAiiON RECOMMEND’T’ONS

Tiat the Land and Asset Strategy Ccrrmtee ecrnie’o t-a Coutntaton o expr000atlorl proceedngs as cutried n Attachment 2

2 That the Recommendation arid Report rernan conñdentia/ onder Sect on 25 lj of lh’e

Freedom oInfo on and Protect Pnyac Act Uriti! t1e Report s puohsbeci -i

Agenda for me 2007 February 26 Regutar Meeting of Counc.

COMMITTEE RECOMMENDATtON

That the Adminstrahon Recommendatons ccntaned in Report LAS2007-12 oe approved

Moved by Atderman McIvet, Seconded by MdermanChabct

That the Land and Asset Strategy Committee Recommendahon Generat Manager

contained in Report LAS2007i 2 be adopted Asset Managernet &Capta Works

Opposed Akierman Larocque

CARRt ED

Mts Uc4O? Ftj ?6

Ase Mariaacnient & C21a Wcrs Re;1 t:The Lanc ard A:se $tratev Ccmm.ttee2007 Jantrv G

AS2037’ 2Page 1 cf 3

PROPOSED INflATION Expr.FR:Ar_ [.DwT( . COMMC.’., -

WARD 8 tALD. NGjflL.E NO. 838 4JE I

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rErr r rpeiy

The ustc9cftr per wcJeaD

te r prehesie di cementrcia hc.. - j rj

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That the La-d id .sse Stiaec.Comrr t1e rE’—r-’erj fajtcr€ • .r r’r a :rproceec-’js i-’ ‘ttacr -‘€nt 2

2 That th Recr ad eOrirerna cD,- er;a rer et c’ 251 ft”e Freedc of nformaro- ai

.nt. t ReD’s puoi sred r’ Ag€:-i fc. reFebrua 2 Ria ?e-cI

RECOMMENDATION OF THE LAND ANDASSET STRATEGY COMMITTEE DATED2007 FE8RUARY 13:

—. -. -. .

- Environmental

That the sIraI:- FD- rTcDa Tbc rce’y t.S b&i

oDnta’red - acDo’a : CcC:a ua s

3ptro.cdAcc.. CfS a’O .ease [_r.iir --.n:al

L F Pc..:> N -es.ac

GeneralTe ao’y o ‘vecg DraD ::9CeS c C-cIpr r.t Tre at L1 ‘ oeae accn-p’eene ccv çie’t tn) t.’eC ys ne fc’ rar te isro anfe -.;r 1r ce ceve.çnet s reIcete n&e.1 fc aicna: ant!

SUMMAR”ISSUEa:.

ee - . . . .-js ‘eD.-e’ ;r -. ---.--.-

s:at-’ arci va- - r’c

PREVIOUS COUNCIL DIRECTIONPOLICY2006 Octcter 2 Cc aced1AS2006-! 44 Pr-rsetDispostc- -. Eau Ca c & cwoCorrverca C.

ADMINLSTRATION RECOMMENDATlONS IMPLICATIONS

SociaiAcu sr ‘ .s / ee irto repae t”e exstrg “Aer aoaDncusing prç’et ‘rat s rent ‘eed cgrad g

)

OppDsor tc R’rnca:r.s

Cpose -

Asset an emit & Crç; Vzri. c pc. 2rj:

The Land and Asset tc ur rre2007 Jaruary 39

PROPOSED LMT;ATCN OF E RO .ON- DG4’7LAN MMCA COSE

WARD 8 ALD. VG)FiLE NC. 838 — 4 AvEhuE S’’

EconomicB ceatirc c €-hs ueeimits the nec r&. :a arQwtr’ Th Cy s cad s’r Dr C c’property ca seue s .r ID yrrpropertj eecn a r t scan be both fnanc a, fe3sLe ac p’act ca

BUSINESS PLAN!BUDGET iMPLICATIONSFunds are avaeabe Prcgrarr #04

The Proposed Payment rereserts tr’eappraised market vLie of the Poeiy anddoes not nciuae etrp cc-ri: sanr wbrthe owriens may u:v9at& be e-triec :opursuant to the E cprJa!(nr

RISKSThe aqusdDn if ths prcn-ty c rccured taccommodate a prprseD comOreheris vcredeieoprnent i! :e 4 A’ene SA’ toc

VALUATiONThe negotiated rr DC c he Prpel, wasbased on an tntemna atat on and as DCC9approved bj Corpcate Prcie es aBuBdings Vauavon unnee nrseo oaccredited appraisers The ocr’oarabe sacsarayzec1 are ncJed r achrrtr 4

AflACItMENTSI Site Map2 Pecommencat:s3. Summary af-tr FrDnrt

!nforrnaton4 Cornparabe Data Chart :and Ses5 LA.S2006 144

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Fcep1tnQ Tre. a Mns and i tea:cjether ‘:. F. jc: ‘:s arj rc.

Mur pa kr’ow— as -3 -- $ Ave-,ue SV.

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c .cr V.:nAs to ar Uri dd 3 rm ec

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Eyror’a.n iurrt’ Tre Ct o Ca’gy

c) EXDROPRIATED ESATES & NTERESS

Tnt- fee s pIe3: 1-ror., tcce:er .:r d- ttrar:ies -1

nr-grrbr’ :es .ens e:es r nterests restered aarst :ti

excep.ng c’nes arO n eras r,d r, m--rina-s ‘r rjc ‘ T--terec1 •gins’ the t

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The popert s Ieq,Jreo fr t’e cnsciatc’ c’ Exç 3ic/siai cJgs Par Br 2 i€ tJ i

ocmVehen iop’rent COr r SO of a n west d L fs:aio and ‘ra’ketarfordable ricus’rg cet

ra tre Lant ano Asset SraeDy Cmmtee ec-nren atConc atrcr:e

e r’ccer ocer for d on eha4 Ct reter a ot:se aJ sergeotce of htenticn to Exproprate pLsJant to 1h axpropraIoii A.! ‘Aoa;

3 That tne Land a9d Asset Strategy Committee recommend that Ccnc atLcr:zein the event that the Owners are prepared to consent to expropriator the Partesmay enter trlto an agreement pursuant to Section 30 of the Expropriation 4ct(Alberta) in a form and content satEstactor to the City Soicitor and the D’e.to’ cCorporate Properties & Buildings and based on the 1dlloing fundamenta terr sand cod4tos

ta PROPERTh’

Plan 4I’Block t2

) The Southerly 47 Feet Throughout of Lots 39 and 40Excepting Triereout ail Mines and Mineralstogether with buildings ano improvements

Municipa,’ known as 838 — 4 Avenue S

j PARTIES

Ovvne(s) John Wong (Businessman)As to an Undivided 113 interest

Leo Weng (Oentst)As to an Undivided 1/3 lnt€rest

Leo WongExecutrix for George Dn VonAs to an Undivided i.’3 intercst

Expopna:;rg Autrorry The City of Caigary

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exceøt n r,’ ard miats ao ay ,,crtcages or a-c. a

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C) IRCPGSE P,Yr1LNT

(e EFFECTiVE DATE

2007 Apr: 3C

(f’ SPECIAL TERMS ND CONOtTIONS

The Purchaser to ‘emburse Inc Vedcr for reasonab’e eoa fees

COnnectofl wiTh inc neGotat!on, finazation. executon and

competon of the transaction

The uchasei to assume aH tenancies respectg The cpry not

) tenQ termwated or Surrendered

4) Tat the Land arc Asset Strategy Comrnttee reDcmrnend that Ceuncil authozethe !eting o: tenders for the demoitcr, or remcva of the npr eients on the

Propev

(51 That the Land and Asset Strateay Committee recommend that Counctt receivefor nformanon that there s an addtona cost of $15 60G for Corporate Properties

& Su 1cngs acquston fees

SUMARY CF .C’L ‘cFR! ‘r FcFMA

TCHfENAS207-12

SITE. DETfl S.

Ld Imroc”icrtsArea Tpe

Topography Size:LU. Designation C

Age:

Asse’smentRoll No: Current “i ear.Property: S44C. ArrearsAssessment Comments: re Li. Levy..:sssrntn! iC ts a iai •T’.‘ 1 fc.r tr e’t prGROSS COST OF THE PURCHASE:

$‘ Purchase PriceS Acquisition FeeS GSTS Est’mated Other Costs

: Gross cost of Purchase

‘:: C s-4 3.3 sq ‘

:•- ‘.

Number of Properties StiB Required:

This report and the resulting decision are solely recommendations andauthorizations communicated between the Administration. It is not intended toprovide representations or warranties to be acted upon by any other parry or tobe deemed or construed as an offer arid an acceptance by The City.

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SUWAR’rlSSJEAthorzat;cr to net ta a ra -I -c1a Dr aS a c’ C ‘ --‘Affordae HouSr

ADM4STRATON REOOMME7-D?T ONS

That tre Land Assee crae rc: :ia. Cokn;

I Authonze the method of dispos.tn. recommedaTicn as oUnec in Attachrert2 Direct Administration to work wt te popcnent to determine if a sat;sfactDr ag-eernet

can be achieved This agreement may include dnrect sale of one or more of me sOjectparcels at full market value

3. Direct Administration to submit the recommended terms and pnnciples for evatuatnqUflSGliCited proposa’s prior to rcon endn ary fiirier ztin on te sLbject c-sa•

4 Direct that Attachment 4 be removed from this report prior to being farwardec to the 2O€October 16 Combined Meeting of COUnCLI and that Attachment 4 remain condentapursuant to Section 24 (1g) and Protection of Prvac Aand that Council consider Attachment 4 in camera if requested by Council

5 That the Recomitendahons and Report remain confidential Lnder Section 25 ) f teuntil the 1eOi is pubsreo i

Agenda fQr the 2006 October 16 Combined Meeting ci Concl

6 That report LAS2006-144 be forwarded as an item of gent business to me 5D6October 16 Combined Meeing cf Ciric.

Committee Recommendation

That the Administration Recommendations contained in Report LAS200B-144 be approved

Moved by Alderman arreliSecrieddermanChabo,

1. That the Land and Asset Strategy Committee Genera] Manager

Recommendation contained in Report LAS2006-144 be Asset Mana;ernent &

adopted. and Capital Worics

2. That Attachment 4 remam confklenflal pursuant to Sect on 24(1 )(g) t,f the Free4om of Infomiation and Protctnoi of PnvacyAct and that Council consider Attachment 4 in camera if

requested by Council.

OPPOSED Aldermen Larocque and Mclvec

)2OOfOi*iw . 176 1

Aet nrrr & Cti Wcrk Reoc4 ‘0Ttn Land 4nd ?s.t Strte Cm’te20 October 10

S2)CC 13Page )t

PROPOSED MEH0D OF DISPOSITtOP UJ GIE & DOWN’cwN coMERcALCORE - WARDS 7& 8 {ALDFAkRELL & KING)FlL NO727 I AVENuE iJR3lCi

SUMMARYIISS UEAuhonzabon to regv$a1e a sa e b d ecinegotiation as a resatt of t’e Mayo sRaundtab r Aoaab e Hous rg

PREVIOUS COUNCIL DIRECTION/POLICYOn 2003 June 9 Coonct approved C20O344ArabIe Housing lmplenienlation Pian ariaFtindtng II was this plan that dentifled thatThe City target was for 200 units while thecommunity target was ar additional 2C0 ucis

On 2004 July 24 Counc approved L4S2OD4I 7 Affordable Husng Susta nabieResource Management Plan * Phase 2 ShortTerm Deveioprnet Strategy 2004 Councildrreed Admirustration to drake a Ieada,sluproi1e in Vie deve!apmeni of 200 units ofaffdabIe housing annually to mai;rnze te

) Affordable icus;rg PaflnErshp Tha:efundrng”

On 2005 December 12, Cooncl approed2006 Corporate Gaas in APA20053Sa whereiey identified ‘through dwect developmentand partnerships, nIt ate development i 2Xunits of non-market housing (pendingavailable senior gverrwrent funding) for200620072008 respectively.

On 2006 June 12 LAS2D6-78 AffordableHousing Strateoic Fmancai Pian wasapproved.

That the Land arid Asset Strategy Committeerecommend that Councd

1. Authorize the method of drsçositior,recommendation as outlned inAttachment 2

2, Direct Administration to work ih the

be eec Tmsaoree—’ie-i ‘ay iCRl drct sae of oneor rnoe of tke s,beot caroeis a ‘,market aue

Orect Adr’ims4aFon to subm’ therecommended ten-s and pnnc;pies fo’evaluating unsotic ted ptaposals pnar trecommending any further direction onte subject proposal

4 Direct that Attachment 4 be removed fron’this report prior to being forwarded to the2006 October 15 Combined Meeting ofCouncil and that Attachment 4 remain

confidenbal pursuant to Section 24(1) (g)of the Freedom of Information and

edion of PvcAct and that Councconsider Attacttment 4 in camera ifrequested by Courc$

5 That the Recommendations and Reportremain confidential under Section 251) ofthe Freedorp1Information andPrtediøn of PtyA until the report ispubIstied in the Agenda for the 2006October 16 Combined Meeting of Counct

6 That report LAS2006- 144 be forwardedas an item of urgent busirtess to the 2006October 16 Combined Meetin9 of Council

RECOMMENDATION OF THE LAND ANDASSET STRATEGY COMMIITEE DATEO2006 OCTOBER 10:

That the Adminstratian Recommendationscontained in Report iJS2G06144 beapproved

Opposition to Recommendation

OPPOSED A’derman MoWer

b! GM S isDici*c S P.Mr I, Ci *‘J flitWCmN

Auet kianagemert & Cta Wok ReporThe Land and Asee Strateyy Ccmwtce2006 October 10

LA S CO 44Page o a

PROPOSED METhOD OF DSPOS1t!CN - EAU CLkRE & DOANTCWN COMMERCIALCORE WARDS 7 B (ALD FARRE. L & KGFILE NO: 727W I M’ENUE (JR&LC

INVESTIGATIONin 200.4 the Mayc kaa a raeafforclabfe housng The ro -be cLea broad cross secon of 5takec[estndudng Co.nc rnerres. eeDpes.adrnrrustration, advocacy groups andrepresentatives from the C atgay HoisngCompany. One of the central elements of theroundtable was discusson that focused onidentifying ways to encourage the pnvatesector partc4pation rn the affordabe housrgmarket. Out of the roundtable intJative, theCity reived tt,ree proposals or ardabehousing. Due to Iocaton, prograni detas andoverall budget conside ons, only oneproposal was deemed to have substanfrieopportunity

‘ The substanPve prp5 is the sutje:t cf isreport. Subrnttei by The LaCaie Grouo, theproposal calls for the sale of the existing 72unit affordable housng project at 727 IAvenue SW and redevelopment F an exstingCity owed parcel located at 4 Avenue and8’ Street SW. The existing af1rdablehousing project on 1 Avenue is in stgnilicantneed of repaw and has numerous cperatohalaUenges. The LaCadle Group proposes todevelop approximately 0 inrts of affo’darehousing on the 4t kienue property as pal ofan agreement wNch would see them takenersNp of the 1 Avenue property

Havwg received and reviewed re rnerrts ofthe proposal. Ad nistration feels mat there sa significant opportunity to create both newunits an replace ones requinng sinthcantrepair

Since receiving the aCaille Group proposalthe need for a west aawnto fire station hasemerged as an urgent requirernerrtAdministration has constoered the matter andbelieves a creative an1 cost effective solutorican be found that wulo incude a fire s:a:iori.

nc’-ma1cet rousng deelcpment a-c ariane: housn; dedecpment The pruJecwould ‘cLde the et,re 4 Avenue propertyar t’e sate Dl t’e ..-iee pcoert,’

I MPL1CATION SGeneralThe ability to de&op affo’dable hous’g urvtsgoes towards one of Counctis specif:pnonties. The ability to create acomprehensive devetaprrent piogam shouldaid this by tntensrfying density and reducingthe reed for more and

SocialThe exlstng 1t Avenue affordable hcusngproject has substantive upgradingrequirements and significant operationalchallenges evidenced by continues sbs:anceabuse, property crune and ilega behaviorRemoving the proje and creatng a newenvironment at a different location may helpin creating a more desirable form ofaffordable housing

EnvironmentalAny erwrronmental review required pursuantto the S A L E Policy will be conducted pnorto sale

Economic (External)By c’eating comprehensrve development itlimits the need for new land and outwardgrowth. The City’s eaderstup on City ownedproperty can serve as an example to otherproperty developers as how creative soIutinscan be both financial feasible and practical

SUSINESS PIANIBUØGET KMPLJCATIØNSThe proposed fire station is part ol an exrsttngcapital budget programAny potential casts associated with theaffordabe housing component will beconsidered part of the financial plan approvedby Council.

GM B Stevens Oieor S. Pirv Maaqer I C’ Aizc J Ra5e5crJ1 traqCi Ck h

M aemene it.l Rcpo: , LAS2OOSi44te Land and As€t Stsattgy riftt&e Pae 3 of 32006 October 12

PROPOSEØ METhOD OF D1SPOSmON - EAU CLARE & DOWNTOWN COMMERCIALCORE—WARDS T& 8 (ALDFARRELL & KING1FItE NO: 727-1 AVENUE 1JRLC

RISKSThe proposal reies upon $X.CD DOOrfunding frorn the Afforcabe HcjsoPartnership hitatie (AHPI) An appioao’for this funding has not been submthed

ThIs s the llrst step towarcs developwg aprQpedy detailed agreement Pt any pcnnteither party may decide the agreenient nolonger works n therr respectrve favour andthus the agreement would nct proceed

VALUATIONThe reserve price of the Property wiJ bebased on an external appraisai and wili eapproved by Corporate Proper1es a-idBuildings Valuatons Committee cottpnseo cfaccredited appraisers

ATTACHMENTS1. Site Map2. Recommendatons3. Swnmaiy of Addtiona Property

information4. Removed as per direction of

Committee

)

Apo by- GM B S Pwi LfL Ca.AmorJ R1Crç

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.TTACHAEN1 ;L_AS1:CE144

RE CO M E DAT! ON S

L: .:

C)ERT

B!ocK2Lo122Exceptinq tereo.: mnes a-d rrineralsMt.inicipaly kncwr as 727 1 Avenue SW

PlanBVck 12Lot 31Exceptinc the enu a mns and rnrerai

s 522 4 Aenue SW

PlanAlBlock 12Lots 3233 and 3$1ncipahy .ncNn as 28 $ f.venue S

PlanA1’Block 12Lot351unicipa. ncwn as 830 4 Aene SW

FlanABlock 12Lot 36Muncrpay .njn as 832 4 Avenue SW

Block 12Lot37.1untc:pali, in.cwn as 834 4 Avenue S’t

PlanBlock 12Lot38

f;c 2 f 3

— .

Ran -Block 12The Nortr ?,0 Ls

C.%fl as 12 See:

Ran A1B!ock 12The Noherty 53 Feet of the Scuthey 100 ThDL0hc

Lots 39 and 40Mun;cipaly known as 314 6 Street SN

(b) METHOD OP DtSPOSTJON.

Direct Sale to La Calle Group hc

(c) RESERVE PRC:

(1) To be estabhshed by independent apprasa and reported back to Land

and ksset Strategj Committee and Coun3L

)

)

ATTAC4MNT3LAS2OO6144

SUMMARY OF ApTIoNALPROPER iNFORMATION

SITE DETAILS: 727 — 1 Avenue SW

Lard: improvements:Area: C 27 H? C 56 Ac) Type: Mid-nse ApartmentTopoçraphy Lee Size 65870 sc ftLU. Designation: DC Age: 34 years

Assessment: Taxes:Roil #: 067248104 Current Year: Exempt (2005)Property: $5,790,000 Amars: SAssessment Comments: The LI. Levy: $4,60437assessment reflects a vatuation date of2005 July 1 for the entire property.

PROCEEDS OF THE SALE:

) Purchase Price: To 3€ Determnej Unit Value: To Be Detem,Ined

SITE DETAILS: 8224 Avenue SW

Land: imvements:Area: 0C3HA0C7Ac> Type: NoneTopography: Size:LU Designabon c AgeAssessrr,ent:

______

Roll $: 06701 7301 Current Year: $Fejp (2005)Property: 486500. Arrears: $Assessment Comments: The U. Levy: 5assessoient refects a va’uation cate of2005 Ji1y I ftr :he erire ropert’.

PROCEEDS OF THE SALE:Purchase Pnc: To Be Deten-ni-ed Unit Value: To Sc Determ,ned

P4! 4 f

STE DETAtLS: . ven;r SW

I.and:Area:Topography:LU. Designaton. LC

PROCEEDS OF ThE SALE:Purchase Price; TD Be De:e-rmnec

0 03 HA (CX)7 Ac)LeeDC

Assessment:Roll#: 067017608Property: 488.500Assessment Comments: Theassessment reflects a va1uaton date r>f2005 Ju’y 1 for the entire rope1y

IrnprovernerType:Size:Age:

Taxes:Durrent Year:A-rears:LI. Levy:

Imprc)vements:Type:Size:Age:

Taxes:Current Year:Arrears:Li. Levy:

$929434 (2006)$S

C D9 HA ,2 Az)

Assessrrent

Property: 4b ‘.Assessment Comments:assessrnert refle- y-’ cathe entire p-cer

Ccmnrc,a b:cn;AVL’

C yrs

$2778 40 (2006)$$

SITE DETAILS: 830 4 Avenue SW

Unit Value: To Be Determined

Lan4:Area:

\ topography.

) LU. Designation:

PROCEEOS OF THE SALE:Purchase Pnce To Be Deterrmned Unit Value To Be Determned

)

5

srr rF4is 1?2 4 Ive,ue SW

Land:AreaTopography: LeLU. Desigriaticn: X

Ass$meRolt#: O67O707Property: $488 5CAssessment Comments: heassessmeit reflects a vauato, dale2005 July 1 fcr the entire prcperty

ovemen:Type:Size:Age:

Taxes:Current Year:Arrears:Li Levy:

$92434 (2306)$$

PROCEOS OF TJj $ALE:Purchase Price: To Be Determied

SITE QETAILS: 8344 Avenue SW

Unit VaIue To Be Deterrrnned

prvments:Type:Size:Age:

1aesCurrent Year:ArrearsLi Levy:

PROCEEDS OF ThE SALE:Purchase Price: To Be Determined Unit Value: To Be D&ermhed

Land:Area: 0O3HA(OO7Ac)TQpography: Lev&LU. Designation: DC

067017806Property: 4885OOAssessment Comments: Theassessment reflects a va’uahon date of2005 July 1 for the entire property.

None

$929434 (2006)$$

ements:Type;Size:Age:

Ta xes:Current Year:Arrears:Li. Levy:

GCEEDs OF ThE SALE:Purchase Puce: To Be Determj Unit Value: To Be Detemiind

Assessment;Rofl#: 070i &)02Property: 225000Assessment CGmrflents: Theassessment re!ects a valuation date of2005 July 1 for the entire property

QCEEDS OF THE SALEPurchase Pnce To Be Deterrnned tJnt Value To Be Determined

SiTE !ELJs S36 ; venue SW

Land:Are a:Topography:LU. Designation:

: I1j4jLeV€JDC

SSment:

Rail: 057017905Property: 48&500.Assessment Comments: Theassessment reflects a vaftjaton date of2005 July 1 for the entire proez1y,

None

$929434 235)$$

Land:Ara:Topography;LU. Designation;

0.01 HA (0.03 Ac)LevelDC

krvniType:Size;Age:

Taxes:Current Year:Arrears:Li, Levy:

None

$428092 (2006)$$

flE c:T” S & Srett

LandArea:TopographyLU. [)esignaticn: ::.

Asses sm en 1:Rofl#: 067DiE()Property: 39750)Assessment Comments: Theassessment refls a vaLjato-’ c’2005 July 1 fcrV’e e’ie przper,.

PROCEEDS OF THE SALE:Purchase Price: To Ee Determ,eJ

Type:Size:Age:

Taxes:Current Year:Arrears:Li. Levy:

This report and the resulting decision are soe)y recommendations andauthorizations communicated between the Administration. t is not intended toprovide representations or warranties to be acted upon by any other party or tobe deemed or construed as an offer and an acceptance by The City.

I

ie 6 ci

‘S fl Q

$75 25 6.$$

Unit Value: To Be Deteimned