The owner of the corner lot at Lowe Street and Second Avenue is seeking to purchase a piece of land from the city to enlarge the parcel.

The administrative report provided to city council for its meeting Monday notes the property owner intends to put up a new building, and requires the additional space to provide for the building and required parking.

The lot was created in 1950, and the southeast corner was cut off to provide for the White Pass and Yukon Route railway right-of-way.

Under city policy, the land must be purchased for fair market value.

The property owner must pay for all costs associated with the purchase, such as the land appraisal, the land survey and legal fees.

The triangular piece shaved off in 1950 is 41.92 square metres, or 451 square feet.

The value has been appraised at $23,500.

The administrative report points out that the lot enlargement would not encroach on the existing railway right-of-way.

Should council approve the sale as recommended by city administration, a bylaw would have to be brought forward to authorize the sale, the administrative report notes. The bylaw process includes a public hearing.

The lot currently measures 412.89 square metres, which is less than the minimum size of 464 square metres established through the existing mixed use commercial zone.

The enlargement would still be shy of the minimum but would be much closer to the minimum lot size required, says the administrative report.

The closing date for the purchase is Sept. 30.