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Date Printed: 2009-06-26 Page 1 of 1 Policy 5.28 Incorporated 12 September, 1874 CORPORATION OF THE DISTRICT OF MAPLE RIDGE TITLE: MUNICIPAL LANDS: ACQUISITION POLICY NO. 5.28 APPROVAL
DATE: December 9, 1996 POLICY STATEMENT: 1) The Municipality will negotiate with a property owner in good faith for the purchase of a property. 2) Whenever possible, the Municipality
will negotiate with a property owner on a willing-seller/willingbuyer basis. 3) The Municipality will be guided in its negotiations for required property acquisitions by the principle
of Fair Market Value. 4) A property to be acquired shall be valued at its Highest and Best Use, regardless of the use that the Municipality might have for the property. PURPOSE: To
provide a policy reflecting a fair and equitable approach to property acquisition. DEFINITIONS: The concept of Highest and Best Use includes investigation into the components of legality,
achievability, probability and marketability. REFERENCE: "Guidelines for Acquisition of Road Allowances."