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Page 3 <br />owned by youngex paxties and it would be difficult to work out an equitable and <br />reasonable arxangement £or a life estate. It would appear that Houses #2 and #3 <br />would have to be acquired outright, but some arrangement could be possibly made <br />for them to continue to lzve in those houses for one or two years. <br />The 5fate Planning Agency has indicated that final decision on the application <br />would be made in May, 1975. If the Council�__proceeds with the application, the <br />property ownexs would be advised of that timetable. If the application is not <br />successful, the Council �ould at that time decide if the Dale Street parcels should <br />be acquzred from funds in the 1975 capital program. <br />Conc � ��sion <br />The Council should determine the amount ot the grant application, if any; and if the <br />amount requires a Iocal share over what has been budgeted, refer zt to the Parks and <br />Recreation Committee for their review and recommendation. <br />In terms of f inancial benefits, it would appear that the maximum grant of $5Q,000 <br />should be pursued. However, the policy position of the Council as it relates io <br />the acQuisition (timing) of the houses on Victoria may be the princ�pal determinant <br />of the amount oi the grant application. <br />�- �, � �� �_ <br />