sec.19Agreements in relation to purchase, development and subdivision

sec.19 Agreements in relation to purchase, development and subdivision

The Council may resolve to make and perform agreements with any person on the relevant short list under section 18 in relation to the purchase, development and subdivision of a stage for which expressions of interest have been called under this Part. The Council may enter into agreements under subsection (1) — with more than 1 person; and in relation to a stage or any part of a stage. An agreement entered into under this section may provide— for the purchase price, or part of the purchase price, to be paid after the transfer of an estate in fee simple in a stage, or a part of a stage, to a person; and that the purchaser must not sell the stage or the part of the stage— without the prior approval of the Council; or unless the Council acknowledges, in writing, that the conditions specified in the agreement have been fulfilled. The Council may require the purchaser to give and may take from the purchaser the security the Council considers sufficient to ensure compliance with the terms and conditions of the agreement. The security mentioned in subsection (4) may take the form of a mortgage given by the purchaser in favour of the Council over the land sold. The Council may apply amounts for the purpose of agreements made under this section. If an agreement is made before the master plan for the stage is approved, an agreement under this section must be conditional on a master plan (that is not inconsistent with the agreement) being approved by the Governor in Council. In deciding the most appropriate person to purchase, develop and subdivide a stage or part of a stage, the Council must have regard not only to financial considerations, but also to the planning and social objectives of the Council contained in the concept plan. In resolving under subsection (1) to make and perform agreements with any person on a short list, the Council must specify its reasons for the decision. (sec.19-ssec.1) The Council may resolve to make and perform agreements with any person on the relevant short list under section 18 in relation to the purchase, development and subdivision of a stage for which expressions of interest have been called under this Part. (sec.19-ssec.2) The Council may enter into agreements under subsection (1) — with more than 1 person; and in relation to a stage or any part of a stage. (sec.19-ssec.3) An agreement entered into under this section may provide— for the purchase price, or part of the purchase price, to be paid after the transfer of an estate in fee simple in a stage, or a part of a stage, to a person; and that the purchaser must not sell the stage or the part of the stage— without the prior approval of the Council; or unless the Council acknowledges, in writing, that the conditions specified in the agreement have been fulfilled. (sec.19-ssec.4) The Council may require the purchaser to give and may take from the purchaser the security the Council considers sufficient to ensure compliance with the terms and conditions of the agreement. (sec.19-ssec.5) The security mentioned in subsection (4) may take the form of a mortgage given by the purchaser in favour of the Council over the land sold. (sec.19-ssec.6) The Council may apply amounts for the purpose of agreements made under this section. (sec.19-ssec.7) If an agreement is made before the master plan for the stage is approved, an agreement under this section must be conditional on a master plan (that is not inconsistent with the agreement) being approved by the Governor in Council. (sec.19-ssec.8) In deciding the most appropriate person to purchase, develop and subdivide a stage or part of a stage, the Council must have regard not only to financial considerations, but also to the planning and social objectives of the Council contained in the concept plan. (sec.19-ssec.9) In resolving under subsection (1) to make and perform agreements with any person on a short list, the Council must specify its reasons for the decision.