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ARR,d 2 1976

TO: Mayor and Council April 12th

FROM: L.D. Poilock
City Administrator

Re: Lease of Parking Space - Royal Bank

The Royal Bank have now submitted drawings for their proposed building
at the corner of Shaughnessy and McAllister. The plans show accommodation
for six parking spaces on the site and they will require 17 spaces to comply
with the By-law. The Bank would like to enter into an Agreement with the
City for the extra eleven spaces.

The fee for parking was increased Last to $300. per stall, in advance,
plus a rental of $7.00 per month per stall. The Royal Bank will not require
a Land Use Contract for the building, therefore we will have to prepare a
form of Agreement between the City and the Bank to cover this parking arrange~
ment.

Would Council authorize the preparation of an Agreement for Parking with
the Royal. Bank for eleven stalls at the rates set out above,

cane.

L.D. Pollock
LDP /w