City to sell Queensborough lots
The City of New Westminster's coffers should be getting a $600,000 boost in the near future with the sale of two vacant lots in Queensborough.
City council will be asked on Monday to approve the sale of 635 and 641 Ewen Avenue for $315,000 each.
In May, council approved putting out requests for offers on several properties it owns throughout the city that are considered surplus to the city's needs.
A report to Monday's meeting said the Ewen Avenue lots were appraised in May for $320,000 each, but the $315,000 offers received by the city fell within the two per cent of appraised value considered acceptable. The report noted the New Westminster's housing price index has been on a slight downward trend since April.
The report estimated servicing and legal costs to the city for the sale to be $25,000, and also concluded the sale would help facilitate development and contribute to the economic development and livability of the city.
ggranger@newwestnewsleader.com
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