TO ‘Mayor and Council

FROM: Public Works Committee

Re: Proposed Parking Lot — 2274 Wilson Avenue

The Public Works Committee has considered the construction of a parking

lot on the newly acquired Boud property on Wilson Avenue. The site could
accommodate. 33 parking stalls west of the Simon Fraser Health Unit and
preliminary estimates indicate that the cost of providing drainage, curbing
and paving and landscaping would amount to $14,000.00. It would appear that
financing could be provided from the City's Parking Reserve Fund which should
contain in excess of $14,000.00 by the end of this year.

It is anticipated that the stalls created would be ‘offered for rental on a
monthly basis to people working in the downtown area, therefore the costs

could be recovered.

The Public Works Committee recommends that:

1. This project be agreed to in principle and be given further consideration

2. The Finance Committee make an appropriate recommendation to Council on
financing and rental charges so that the project can commence as soon as
possible.

VGB/LDP /w

Cale ie
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AER