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MEMO TO: Mayor & Aldermen March 31st, 1976 APR - 5 1976

FROM: R.A. Freeman, City Clerk

Re: Highway Exchange By-law No. 1436

A photocopy cf the above~noted By-law is attached and is available
for first three readings. This By-law is required to effect a highway exchange
for a pending subdivision adjacent to Victoria Drive and Lynwood Avenue. Council
will note that the amount to be paid to the City in the transaction is
$6,000.09 and this price was set by the Community Development Committee and

Council's consideration of the By~law will be confirmation of that price. The

sum of $6, 000.00 is just slightly less than $1.25 per square foot and, in addi-

tion, survey and legal costs must be borneby the Developer.

TOR

City Clerk

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