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THE CORPORATION OF THE
CITY OF PORT COQUITLAM

DATE: July 28th, 1992

TO: B.R. Kirk
City Administrator

FROM: R.A. Freeman,
Acting City Clerk

SUBJECT: Sale of City Property — 2300 Block Pitt River Road

Resolution:

That with respect to the tender call authorized by Council on June 29th, 1992
offering Lot "A", Block 25, District Lots 170 and 289, Group One, Plan xxxx,
New Westminster District, Port Coquitlam, B.C. for sale;

1. All bids received be rejected;

2° The City Clerk is hereby instructed to prepare and present to Council
for approval a revised “Real Property for Sale By Tender" notice
offering the said lands for sale. .

Background & Comments:

At the closing time for the receipt of tenders (12 Noon, July 23rd, 1992) six
offers in the amounts of $1,212,000, $1,148,000, $1,075,000, $1,064,000,
$1,051,000, and $1,005,000 were received. The upset p vice set by Council was
$998,000.

In reviewing the tenders it is obvious that the terms and conditions under
which the property was being sold were either not clear, misunderstood, or
ignored, by at least the three highest offers received. Various conditions.
were placed in the offers thet the City is legally unable to accept. In the
interest of fairness to all parties concerned it is suggested that the
proposed land sale be re-tendered. That would allow for the terms to be
clarified and for the City to give greater emphasis to some of the more
important points. | - .

ReAo Freeman
Acting City Clerk