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Delegation of Property Transaction Approval Standards

Introduction

The Board of Governors has delegated some responsibility for the approval of property transactions to the National Property Committee.

 

Property Transactions 

Property Transactions Authority
Recommend Approve
Property Society National Property Committee National Property Committee Board of Governors
Transaction Type Scope        
PROPERTY PURCHASE/ BEQUEST / GRANT / GIFT ALL  
BEQUEST / GRANT / GIFT REFUSAL UNDER $100,OOO Annual Cash Flow below 3%    
OVER $100,000  
MINOR MISC. TRANSACTIONS UNDER $10,000    
SALE OR DISPOSITION OF PROPERTY UNDER $250,000 Annual Cash Flow below 3%    
OVER $250,OOO  
LEASE, RENTAL, PARTNERSHIP RENEWAL UNDER $25,000/5 YEARS Less than 10% Council’s Annual Operating Budget    
OVER $25,000/5 YEARS  
LEASE, RENTAL, PARTNERSHIP TERMINATION CASH FLOW UNDER 3%    
EASEMENT / RIGHT-OF-WAY UNDER $25,000    
OVER $25,000  
EXPROPRIATION UNDER $25,000    
OVER $25,000  
IMPROVEMENTS TO BUILDINGS, SERVICES, INFRASTRUCTURE UNDER $100,000 Annual Cash Flow Over 3% Less than 10% Council’s Operating Budget    
  OVER $100,000  
REVENUE GENERATION ALL  

 

Related Policies & Standards

 

Resources 

Effective Date

March 2, 2019

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