Real Property Management Profile

This is a corporate function that provides strategic real estate portfolio management and realty transaction services with implications across the entire organization. The primary objective is to maximize the value of the City of Hamilton's real estate interests while delivering good customer service. This service includes property valuation,  and cash-in-lieu of parkland dedication calculations; dispositions, acquisitions, expropriations, and leasing; real estate strategy and portfolio planning; and land development.

Service Details

Related Subservices

  • No related subservices

Type of Service

  • Internal corporate service

Rationale

  • Core municipal service

Primary Funding Sources

  • Area Rating Reserves
  • Capital Budget
  • Net Levy
  • Rate Budget
  • Reserves
  • User Fees

Service Level

  • At standard

Service Level Source

  • Legislated
  • Council By-law
  • Council approved policy or service standard
  • Past practice

 

Performance Measures

2017

How much did you do? (volume)

  • Transaction Activities
    • Acquisitions: 37 for $42.26 million
    • Dispositions: 51 for $22.77 M
    • Lease/Licence/Renewals: 31 for $2.23 million
    • Property Circulations: 36
    • Cash-In-Lieu for Parkland Dedications: 358 for $11.07 million
  • Appraisals: 49
  • Portfolio Reviews: 4

How Well Did You Do It? (quality)

  • All Cash-In-Lieu processed within 10-day legislative time-period

Is Anyone Better Off? (impact)

  • Funds from property disposition offset costs that otherwise would be raised through the levy. New municipal property assessment and jobs are created through the sale of industrial lands. Program operating and capital costs are reduced through consolidation and other efficiencies, which reduces the property tax impacts. Additional residents are able to afford a place to live through the creation of new affordable housing opportunities.

How much did you do? (volume)

  • Transaction Activities
    • Acquisitions: 15 for $13.38 million
    • Dispositions: 32 for $10.92 million
    • Lease/Licence/Renewals: 43 for $1.78 million
    • Property Circulations: 31
    • CIL for Parkland Dedications: 237 for $6.32 million
  • Appraisals: 34
  • Portfolio Reviews: 3

Strategic Plan Priority - Built Environment & Infrastructure Our People & Performance