Sale of City Owned Lands
Sale of City Owned Lands
Content - BUS - Employment lands - Sale
The City has a designated industrial lands team comprised of planners, engineers, economic experts and other professionals available to help prospective purchasers find the property that best meets their needs and navigate the following steps.
The land purchase process typically begins with informal meetings between prospective developers/purchasers and staff from the Kingston Economic Development Corporation (KEDCO) and the City's Real Estate & Environmental Initiatives Department. These early sessions are an opportunity for a purchaser to present a proposed project to local officials and discuss possible land requirements. Tours of available City owned land in the City's four business/industrial parks are arranged and can lead to more detailed discussions.
Finding a property
KEDCO and City officials will help the developer/purchaser find a suitable property, explore government funding opportunities, and arrange discussions with external agencies, as required. Representatives from other City departments and agencies such as Engineering and Planning may get involved at this stage.
Preparing to submit an offer
Once the developer/purchaser has decided on a site, City officials from Real Estate & Environmental Initiatives and Legal Services prepare an Offer to Purchase tailored to the particular parcel of land and proposed use. The typical offer is approximately 20 pages, including appendices. The Offer may include special conditions or requirements to be fulfilled by the purchaser or the City (e.g. required studies to be completed, legal survey, design considerations, etc.). The completed Offer is returned by the Purchaser to KEDCO along with the Additional Information Form, Development Charges Exemption Application Form, if applicable, and a Deposit representing 10% of the purchase price.
The Offer is presented to the City's Chief Administrative Officer by Staff from Legal Services, KEDCO and Real Estate & Environmental Initiatives, and a negotiation period follows that may take up to 10 or more working days. If necessary, City officials will meet with the Purchaser to finalize the terms of the Agreement before it is formally accepted.
Should the City accept the Offer, there will be a binding Agreement of Purchase and Sale. Both parties sign three original copies of the Agreement; two copies remain with the City and one with the developer/purchaser. The City provides the Purchaser with information and reports pertaining to the lands as stipulated in the Agreement.
Purchaser waives conditions
The Purchaser has a specified time frame to conduct any further investigations or assessments of the Lands as per the terms of the Agreement. If satisfied, the Purchaser will waive the conditions and continue with the Planning process to build on the Lands.
The closing of the land sale is conditional upon final Site Plan Control approval. The deal will close within three weeks of Site Plan Control approval but the time frame for closing the land sale is flexible and can be reduced if necessary. The balance of the purchase price is due upon closing.