Legislative History: Enacted September 19, 2017 (By-law No. CPOL.-176-428); Amended July 24, 2018 (By-law No. CPOL.-176(a)-435)
Last Review Date: July 25, 2023
Service Area Lead: Director, Realty Services
1. Policy Statement
The purpose of this policy is to formalize and clarify practices on property transactions involving Elected Officials.
2. Definitions
Not Applicable.
3. Applicability
This policy applies to property transactions involving Elected Officials.
4. The Policy
In those instances where property transactions involve Elected Officials:
a) the Director, Realty Services shall obtain an independent third party fee appraisal and review this to ascertain if the report contains the information required and that the value arrived at is supported by pertinent facts;
b) the Director, Realty Services shall be authorized to encourage the individual involved to obtain their own independent third party fee appraisal from a recognized appraiser; and
c) the Director, Realty Services shall be authorized to determine a fair compensation using the two values so obtained.