THE CORPORATION OF THE CITY OF PORT COQUITLAM

MEMO

B. Kirk, DATE: February 05, 1987
City Administrator.

FROM: J. Maitland,
City Treasurer.

SUBJECT: Tax Sale Expenditure By~Law
Senior's Centre Addition.

RECOMMENDATION

That Council approve the Tax Sale Expenditure by-law in the amount of
$700,000 to construct the first phase of the addition to the Senior's

Centre.

BACKGROUND & COMMENTS:

The amount in the by-law is an estimate based upon the tenders received
as well as additional funds for contract supervision, furniture and
fixtures and any other costs. Any funds which remain after construction

will be returned to the Tax Sale Reserve.

Our Capital Improvement Program calis fer repayment of these funds to our
Tax Sale Reserve over a 20 year period, without interest.