Title
Policy C-458 Development Agreement Security
Proposed Motion
That Council approve Policy C-458 - Development Agreement Security, as presented.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
Administration has drafted a new Council Policy C-458 Development Agreement Security to replace the previous and outdated Council Policy C-PD01.
Summary
Council Policy C-PD01 was approved on June 26, 2012 and does not meet current industry or regional standards and requires frequent variances. Administration has updated the policy to establish a clear, consistent, risk-based framework for development agreement securities. By aligning with regional best practices and incorporating developer feedback, the approach supports efficient administration while continuing to protect the County’s financial and infrastructure interest.
Historical Information:
Strategic Plan/Policy/Legal/Staff Implications:
The draft Council Policy C-458 aligns with the Parkland County Strategic Plan 2022-2025 and supports the pillars of Complete Communities, Strategic Economic Diversification and Responsible Leadership.
Financial Impact:
n/a
Other: