_f0: Mayor and Council September 22, 1972

FROM: L.D. Pollock, City Administrator

SEP 2 § 1972

1. Land Exchange — Meridian Developments Ltd.

We have been negotiating with Meridian Developments Ltd. for the exchange of
lands in the Cedar Drive area to enable the establishment of our Ecological
Reserve. The land being acquired is shown on the attached map and will involve
exchange ‘for some City owned land as well as exchange for some land owned by
the School District. We have reached agreement with Meridian Developments

for an equal no money trade on the following basis:

(1) Acceptance by the City of a subdivision application from Meridian
Developments for a five lot subdivision in the location shown on
the attached plan.

(2) Acceptance of a subdivision plan for the residential subdivision of
Lot 140 Plan 28265 (also shown on attached plan , this is the area
that is presently before Council for final adoption).

Exchange by Meridian of the remainder of Parcel 1 (after the five
lot subdivision in the northeasterly corner of this Parcel described
in (1) above) for the following City and School District lands.

a. Lots 19 to 34 Block 5 Plan 2294 located on Suffolk Street

b. Lot 203 Plan 37532 located on Kennedy Street

Cc. Lot 116 Pian 28650 located on Cedar Drive and Lincoln and
presently owned by School District #43.

We have a commitment from the School Board that they will enter into an exchange
of the School District owned lands for the Meridian Developments land and in
addition the City owned land being offered to Mr.

by the Land Sale C

The land exchange

Municipal Act and

approvals for exchange.

It should also be noted that the five lot subdivision proposed inthis transaction
does encroach Slightly on the Ecological Reserve area but the encroachment is
minimal and approval of these arrangements will enable land exchange without any
cost to the City,

T£ Council will approve the foregoing arrangements it will enable us to proceed
to the next step of posting the land exchange and proceeding with the approval
of a subdivision plans for Meridian Developments,