Land Disposition
City Council has the ability to acquire and dispose of any City owned asset. All contracts that the City enters into must be brought to the City Council for their consideration and approval.
Once the City has no future civic use for a property they own, the land is determined to be surplus and is available for disposal. The land may be left over from a road project, a park expansion, unconstructed lane or roadway, or any other City project.
There are two main ways that the City disposes of land:
- Publically On MLS
When a single family dwelling or development parcel is to be sold, the City typically lists the property with a real estate agent on MLS. This process allows all potential purchasers to review and make offers on the property.
If the City is approached by a potential buyer to purchase excess land that has a limited consumer audience (excess laneway, non-conforming remnant parcel etc.), the City can enter into a purchase and sale agreement with a company or individual directly.