LAND SALE POLICY

Development Requirements for Properties Purchased from the Town

Development must have commenced within 6 months from the date of a signed purchase/sale agreement and must be completed within 12 months from the date of a signed purchase/sale agreement.

Immediately upon meeting all requirements of an acceptable purchase/sale agreement to the Town, 25% of the agreed upon price, plus all HST owing, must be paid. This amount will be non-refundable should the development not comply with the aforementioned development conditions. The balance of funds owed must be received upon commencement of development.

Sale of Residential Property

Property owned by the Town and sold for residential purposes will be sold in lots of not greater than 75 feet unless the proposed home is large enough to require additional frontage to meet Development Regulation requirements.

Adopted: November 14, 2001
Motion No: 01-164
Mayor
Clerk