CO129-255 - Governor Sir Robinson - 1892 [5-7] — Page 263

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per acre.

4.

below

" his proposed extension is

h water level and d'estimare

high

roughly the cost of reclaiming, filling

ein,

constructing

roads, sewers, storm

water channels at $220,000 or

9 cents per square foot

acre.

these extensive presiminary works.

7.

It is therefore not

unreasonable to expect the

~ Govern. ment to entertaci - exceptional

conditions in respect of the Crowson

Lease now

· say

ov

$3,700 per

8.

The

· average

vance of the land when reclaimed subject to an annual crown rent of $218 per acre would probably be about 10 cents per square foot or $4356 per acre but there would be little chance of an area except some seling

20

large

public or private company such as

applying for the land

the ove nav

wvere

ready

to invest mor

purposes set forth

6.

money for the

in this application.

Further the Government is

relieved of all risk in connection with the project and the providing

of funds for

the

carrying

out of

these

applied for.

The actual value of the

land after the completion of the preliminary

works, which destinate will take about two years to comp

complete, over and above the cost of such work. will be from the foregoing figures $656 per

subject to

to an

per acre and/ annual crown rent of $218 por.

the term of acre for 99 years

th

proposed lease. Capitaliving at 5% the present value would be $ 4988 for acre.

The terms offered $10 / v

ཟླ་

7.

acre and $21 annual cravureuh give a return of $426 per .

10.

acre.

As a set off aganist this

large difference will be the improve.

mant