The Ontario Municipal Act, S.O. 2001, c. 25, particularly Section 224(a) states that one of the roles of Council is to develop and evaluate the policies and programs of the municipality. Therefore the Council of the Town of Minto considers it to be in the public interest to enact a Policy entitled The Real Estate Broker's Protection Policy.
The Town of Minto owns industrial property that is available for sale. The Council of the Town of Minto is enthusiastic to sell their available industrial property. The Council of the Town of Minto desire to eliminate any conflict with local Real Estate Brokers who may have potential clients interested in purchasing industrial land owned by the Town of Minto by not rewarding them for their services. Therefore, it is in the public interest for the Town of Minto to agree to represent themselves as the Vendor of all municipally owned property. The Town of Minto agrees to pay any Real Estate Broker a fee at the point of completion of a sale of industrial land. This fee is set at 5%.
The Real Estate Broker's Protection Policy will encourage anyone with viable contacts to investigate the sale of industrial lands within the Town of Minto.