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(d) Sale of (former) Inland Lot
Number 564 7,000 square feet
at $30 per square foot.
LA
210,000
$ 2,722,500
Estimated cost new Government
House.
$ 2,000,000
Balance in excess
Add, value of present Government
722,500
House, if sold, 15,000 square
feet at $8 per square foot.
$ 1,200,000
$ 1,922,500
The financing of the new Government House is not, however, dependent on the actual sale of the sites referred to
above. Money can be found immediately from surplus balances which will be replenished in due course when the sites are actually sold. Nor does this proposal make it absolutely necessary to sell all the sites above
mentioned if, as a result of further consideration of
the development of this area, it is thought preferable to retain them or any parts of them for other purposes.
6.
It is not at present possible or desirable to
decide finally the second part of the scheme which concerns the provision of a new City Hall and new
Government Offices. The area occupied by the Secretariat
and other Government Offices which would be recovered
were the foregoing proposal to be realised could not be
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