2023-10-25 21:02:25
The City of Magog wishes to protect certain properties of interest on its territory and will adopt a municipal by-law in the coming weeks to grant it a right of pre-emption.
The right of pre-emption was integrated into the Cities and Towns Act in June 2022. Drummondville and Granby have already used it and Sherbrooke is not ruling out the possibility.
The right of pre-emption allows a city to match a purchase offer submitted to an owner who wishes to sell a building or land, but which might be used for the common good of the community.
These are only a few lands that risk being targeted, reassured the director of planning and territorial development, Mélissa Charbonneau.
“It has to be of municipal interest. As an example for providing social and affordable housing, expanding public parking, protecting natural environments or even for the purposes of expanding our industrial park,” she explained.
Land properties must have been previously identified and their owners notified. The process will take place in 2024.
Real estate brokers are not once morest the idea, but hope that the City will act parsimoniously in order to preserve market balance.
“We should not allow the area to expand over time and the municipality should have control over too large a quantity of properties because eventually, that might harm average buyers, those who wish to build or buy a first home,” mentioned Sacha De Santis of the EXP De Santis team.
Once informed by the seller of the purchase offer received, the City will have 60 days to decide whether to match the offer or let the sale go through. However, some find the delay too long.
The City is talking regarding a maximum deadline and intends to do everything to reduce it and prevent owners from losing out or a buyer from withdrawing.
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