Real Estate Section

The Real Estate Section is responsible for the management of the corporation's real estate assets and real estate portfolios, which includes the leasing, acquisition and disposition of properties, site improvements, environmental audits and the delivery of efficient and effective real estate and property management services for the City of Hamilton.

The strategic service goals administered by the Real Estate Section are:

Portfolio Management:

•  Asset rationalization of municipal assets.
•  Identification and disposition of non-core municipal assets.
•  Business case analysis.
•  Policy formulation.

Leasing:

• City owned properties on long and short term basis.
• Securing long and short term leases for municipal purposes.

Acquisition:

• City capital infrastructure programs and services, airport expansion, parkland and open space development, etc.

Land Sales:

•  Industrial Business Parks
•  Residential
•  Tax Arrears
•  Commercial
•  Road closures

Appraisal Services:

•  Internal and Peer review of external appraisal reports.
•  Market valuations for cash-in-lieu of parkland, parking and patio licenses.

Property Transaction Approval Process:

• Real Property matters to an upset value of $250,000 are approved by the City Manager.
• Real Property matters to an upset value of $150,000 are approved by the General Manager, or designate.

Real Property matters within the value limits established above and delegated to staff can be approved and processed within a two week period.

• Real Property matters over $250,000 require City Council approval. These sales require additional months to obtain approval depending on the complexity of the transaction and City Council’s reporting cycle.