At the City of Powell River Council meeting on November 22, council adopted its city property policy. The purpose of this policy is to establish the process for setting rates for leases and licences for city-owned property and improvements.
Guiding principles include fair market value, internal appraisals and external independent appraisals.
The city’s lease rate bylaw was also repealed. Rent previously determined by the lease rate bylaw in lease and licence agreements between the city and leaseholders or licensees shall now be determined in accordance with this property policy 271 for all city-owned property and improvements.
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