Surrey, B.C. \u2013 Recent local media\u00a0reports have\u00a0included inaccurate information about the City of\u00a0Surrey’s\u00a0property acquisition practices. The City is providing additional\u00a0context\u00a0to ensure Surrey residents have\u00a0accurate\u00a0information about how municipal land purchases are evaluated,\u00a0negotiated\u00a0and approved.\u00a0<\/p>\n
Over the last year, the City has avoided approximately $23 million in higher land acquisition costs through independent appraisals, market analysis and negotiations. This approach supports informed real estate decisions and helps meet Surrey\u2019s long-term infrastructure, parks and community facility needs.\u00a0<\/p>\n
The City uses independent appraisals to\u00a0establish\u00a0market value and guide\u00a0decision-making, but\u00a0uses\u00a0them as a benchmark\u00a0before negotiating directly with property owners or their authorized representatives to achieve the best value for taxpayers.\u00a0<\/p>\n
The\u00a0process\u00a0also\u00a0includes review by multiple City departments,\u00a0including environmental, engineering, legal and financial\u00a0teams,\u00a0and Council approval before any acquisition is completed.\u00a0\u00a0<\/p>\n