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Date Printed: 2002-09-13 Page 1 of 1 Policy 5.25 Incorporated 12 September, 1874 CORPORATION OF THE DISTRICT OF MAPLE RIDGE TITLE: PARKLAND -ACQUISITION THROUGH C.D.M.R. DEVELOPMENT
LTD POLICY NO. 5.25 APPROVAL DATE: April 11, 1994 POLICY STATEMENT: Council will consider parkland property acquisition through an agreement with C.D.M.R. Developments Ltd. where 1.
There exists a willing seller/willing buyer atmosphere; and 2. The acquisition is budgeted within the five year DCC capital expenditure program and/or the current owner has 18 months
or more previously been denied acquisition by the Municipality due to lack of funds; and 3. The acquisition is from an individual not engaged in property speculation and whose life
is significantly adversely affected by the Municipality's inability to acquire the property; or 4. There are extenuating circumstances. The agreement with C.D.M.R. Developments Ltd.
will provide for interim payments and a future fixed acquisition price and date; which date will be 10 years or less. PURPOSE: To provide for the acquisition of parkland from individuals
who are adversely affected by the Official Community Plan designation of their property for Municipal park purposes; and where due to policy or limited funds, the Municipality is unable
to acquire the property within a reasonable time period considering the circumstances.