{"id":139615,"date":"2024-11-26T10:21:39","date_gmt":"2024-11-26T15:21:39","guid":{"rendered":"https:\/\/www.aicanada.ca\/?post_type=issue&#038;p=139615"},"modified":"2024-11-26T13:35:25","modified_gmt":"2024-11-26T18:35:25","slug":"2024-volume-68-book-2","status":"publish","type":"issue","link":"https:\/\/www.aicanada.ca\/fr\/cpv-issue\/2024-volume-68-book-2\/","title":{"rendered":"2024 &#8211; Volume 68 &#8211; Tome 2"},"content":{"rendered":"\n<p>OVERVIEW OF EXPROPRIATION<br>ACTS ON COMPENSATION<br>MATTERS IN CANADA:<br>EXPERIENCES AND<br>RECOMMENDATIONS<br>Vue d&rsquo;ensemble des lois<br>sur l&rsquo;expropriation en<br>mati\u00e8re d&rsquo;indemnisation<br>au Canada : Exp\u00e9riences et<br>recommandations<br>APPRAISING PLACES<br>OF WORSHIP: UNIQUE<br>PROPERTY VALUATION<br>\u00c9valuation d&rsquo;un lieu de culte :<br>Bien unique<br>ARBITRATION AND<br>APPRAISAL: RENT RESET<br>ISSUES (PART 2)<br>Arbitrage et \u00e9valuation :<br>questions relatives \u00e0 la<br>r\u00e9initialisation des loyers<br>(PARTIE 2)<br>2024 AIC NATIONAL<br>CONFERENCE RECAP<br>R\u00e9sum\u00e9 du Congr\u00e8s<br>national de l\u2019ICE 2024 PROPERTY VALUE:<br>Powering<br>the influence of EV charging stations on real estate value<br>LA VALEUR IMMOBILI\u00c8RE :<br>Stimuler<br>l\u2019influence des bornes de recharge pour VE sur la valeur des propri\u00e9t\u00e9s<br>Recruiting<br>top talent<br>Contact us to learn<br>more about<br>joining the team.<br>Matthew McWatters AACI, P.App<br>Principal, Managing Director &amp;<br>Canadian Leader, Valuation,<br>Advisory &amp; Property Tax Services<br>avisonyoung.ca\/valuations matthew.mcwatters@avisonyoung.com<br>The Avison Young Valuation and<br>Advisory Services Team is growing<br>and we are looking for individuals,<br>teams and companies across Canada<br>seeking an opportunity to grow with us.<br>Leverage<br>technology to<br>service clients<br>High performance,<br>people-first<br>culture<br>Competitive<br>compensation<br>package<br>WE ARE CURRENTLY HIRING<br>DESIGNATED<br>PROFESSIONALS<br>Elevate Your<br>Property&rsquo;s Potential<br>with CDC Inc.<br>Technology-Driven Valuations:<br>At the forefront of appraisal innovation, CDC Inc. offers fast, accurate, and efficient<br>property appraisals across Canada, enhanced by our cutting-edge report technology.<br>Diverse Expertise, Nationwide Reach:<br>Whether it&rsquo;s commercial, agricultural, or residential properties, our team of over 60<br>experts delivers comprehensive services everywhere in Canada.<br>Growing to Serve You Better:<br>Constantly expanding our services and reach to meet your diverse property needs,<br>including Building Condition Assessments and Reserve Fund Studies\/Depreciation Reports.<br>Accurate, Reliable, Professional:<br>Count on CDC Inc. for precise and defensible property valuations.<br>ORDER AN APPRAISAL AT CDCINC.CA<br>NATIONAL COVERAGE<br>LOCAL EXPERTISE<br>EXCELLENT SERVICE<br>1 (866) 479-7922<br>www.cdcinc.ca<br>Experts choose experts<br>collierscanada.com<br>Interested in working in an entrepreneurial environment with the opportunity to grow your appraisal<br>practice supported by the Colliers brand? Reach out today to take your career to the next level.<br>Contact Lauren.Harvison@colliers.com to learn about joining the Colliers Valuation &amp; Advisory Services team.<br>Colliers is seeking<br>motivated appraisers to<br>join our Valuation and<br>Advisory Services team.<br>Flexibility in where<br>and when you work;<br>take advantage of our<br>month-abroad option<br>Enterprising<br>culture with<br>growth mindset<br>Global platform<br>and leading<br>expertise<br>Why Colliers<br>The articles printed in this issue<br>represent authors\u2019 opinions<br>only and are not necessarily<br>endorsed by the Appraisal<br>Institute of Canada. Copyright<br>2024 by the Appraisal<br>Institute of Canada. All rights<br>reserved. Reproduction in<br>whole or in part without<br>written permission<br>is strictly prohibited.<br>Subscription, $40.00 per year.<br>Printed in Canada.<br>Les articles imprim\u00e9s dans<br>ce num\u00e9ro ne rep\u00e9sentent<br>que l\u2019opinion de leur auteur<br>respectif, mais ne sont pas<br>n\u00e9cessairement endoss\u00e9s<br>par l\u2019Institut canadien des<br>\u00e9valuateurs. Tous droits<br>reserv\u00e9s 2024 par l\u2019Institut<br>canadien des \u00e9valuateurs. La<br>reproduction totale ou partielle<br>sous quelque forme que se<br>soit sans authorisation \u00e9crite<br>est absolument interdite.<br>Abonnement 40,00 $ par ann\u00e9e.<br>Imprim\u00e9 au Canada.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Appraisal Institute of<br>Canada reserves the right to<br>reject advertising that it deems<br>to be inappropriate.<br>** The publisher and the<br>Appraisal Institute of Canada<br>cannot be held liable for any<br>material used or claims made<br>in advertising included in this<br>publication.Indexed in the<br>Canadian Business. Index<br>and available on-line in the<br>Canadian Business &amp; Current<br>Affairs database.<br>ISSN 0827-2697<br>Publication Mails Agreement<\/li>\n<\/ul>\n\n\n\n<h1 class=\"wp-block-heading\">40008249<\/h1>\n\n\n\n<p>Return undeliverable<br>Canadian items to:<br>Appraisal Institute of Canada<br>403-200 Catherine St.,<br>Ottawa, ON K2P 2K9.<br>Director, Public Affairs<br>and Communications:<br>Sophie Lamontagne<br>Coordinator, Public Affairs<br>and Communications:<br>Brandyn Hayes<br>Publication management,<br>design and production by:<br>Direction, conception et<br>production par :<br>3rd Floor \u2013 2020 Portage<br>Avenue, Winnipeg,<br>MB R3J 0K4<br>Phone: 866-985-9780<br>Fax: 866-985-9799<br>E-mail: info@kelman.ca<br>Web: www.kelman.ca<br>Managing Editor:<br>Craig Kelman<br>Design\/Layout:<br>Jackie Magat<br>Marketing Manager:<br>Kris Fillion<br>Advertising Co-ordinator:<br>Sabrina Simmonds<br>COLUMNS CHRONIQUES<br>Arbitration and appraisal: rent reset issues (PART 2)<br>Arbitrage et \u00e9valuation : questions relatives \u00e0 la<br>r\u00e9initialisation des loyers (PARTIE 2)<br>Appraising places of worship: unique property valuation<br>\u00c9valuation d&rsquo;un lieu de culte : Bien unique<br>42<br>24<br>34<br>Overview of expropriation acts on compensation<br>matters in Canada: experiences and recommendations<br>Vue d&rsquo;ensemble des lois sur l&rsquo;expropriation en mati\u00e8re<br>d&rsquo;indemnisation au Canada : Exp\u00e9riences et recommandations<br>6 From the desk of the CEO<br>From the desk of the CEO: One year in<br>10 Executive Corner<br>AIC President Dena Knopp, P. App., CRA,<br>stresses collaboration and consensus building<br>58 Legal Matters<br>Expropriation \u2013 compensation: Ignoring the scheme<br>Supreme Court of Canada guidance in St. John\u2019s v. Lynch<br>64 Advocacy in Action<br>2024 AIC Parliament Hill Day: Building Transparency<br>and Trust in Canada\u2019s Real Estate Market<br>72 Equity, Diversity and Inclusion (EDI)<br>Empowering the next generation of commercial<br>real estate leaders: The REET Institute\u2019s innovative<br>approach to training high school students<br>76 The Future is Bright<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Curiosity, enthusiasm, and a genuine passion<br>for what she does make Alisa Zorina a true professional<\/li>\n\n\n\n<li>For Ben Ellens, success is \u2019all in the family\u2019<br>84 News<\/li>\n\n\n\n<li>2024 AIC National Conference recap<\/li>\n\n\n\n<li>Important Dates<\/li>\n\n\n\n<li>In Memoriam<\/li>\n\n\n\n<li>2025 AIC Calendar<br>98 Designations, candidates, students<br>8 Du bureau de la pr\u00e9sidente-directrice g\u00e9n\u00e9rale<br>Du bureau de la pr\u00e9sidente-directrice g\u00e9n\u00e9rale : Un an apr\u00e8s<br>13 Le coin de l\u2019\u00e9xecutif<br>La pr\u00e9sidente de l\u2019ICE, Dena Knopp, \u00c9. Pro., CRA,<br>met l\u2019accent sur la collaboration et la recherche de consensus<br>61 Questions juridiques<br>Expropriation \u2013 indemnisation : ignorer le r\u00e9gime Orientation<br>de la Cour supr\u00eame du Canada dans l\u2019affaire St. John\u2019s c. Lynch<br>68 D\u00e9fense des int\u00e9r\u00eats<br>Journ\u00e9e sur la Colline du Parlement de l&rsquo;ICE 2024 : Renforcer la<br>transparence et la confiance dans le march\u00e9 immobilier canadien<br>74 \u00c9quit\u00e9, diversit\u00e9 et inclusion (EDI)<br>Donner \u00e0 la prochaine g\u00e9n\u00e9ration de leaders de l\u2019immobilier<br>commercial les moyens d\u2019agir : L\u2019approche innovante de<br>l\u2019Institut REET pour la formation des \u00e9tudiants du secondaire<br>78 L&rsquo;avenir est prometteur<\/li>\n\n\n\n<li>La curiosit\u00e9, l\u2019enthousiasme et une v\u00e9ritable passion pour ce<br>qu\u2019elle font d\u2019Alisa Zorina une v\u00e9ritable experte<\/li>\n\n\n\n<li>Pour Ben Ellens, le succ\u00e8s est \u00ab une affaire de famille \u00bb<br>88 Nouvelles<\/li>\n\n\n\n<li>R\u00e9sum\u00e9 du Congr\u00e8s national de l\u2019ICE 2024<\/li>\n\n\n\n<li>Dates importantes<\/li>\n\n\n\n<li>En m\u00e9moire<\/li>\n\n\n\n<li>Calendrier 2025 de l\u2019ICE<br>98 D\u00e9signations, stagiaires, \u00e9tudiants<br>Powering property value: the influence<br>of EV charging stations on real estate value<br>Stimuler la valeur immobili\u00e8re : l&rsquo;influence des bornes de<br>recharge pour VE sur la valeur des propri\u00e9t\u00e9s<br>17<br>FROM THE DESK OF THE CEO<br>As I reflect on my first year as AIC CEO, I am filled<br>with pride and optimism. Stepping into this role has<br>been a rich and humbling experience, and as I look<br>back, I see behind us a year of significant milestones,<br>strategic growth, and momentum for a bright future ahead.<br>In my first few months, I made it my priority to connect with and<br>learn from as many Members as possible. During a cross-country<br>tour of the AIC Provincial AGMs, I had the pleasure of doing exactly<br>that; meeting and engaging with hundreds of Members, from<br>coast to coast. Your warm welcome and generosity were truly<br>heartening and underscored for me the special nature of the AIC<br>and our Membership.<br>Those initial months also provided important opportunities to<br>connect with our international stakeholders, including the European<br>Group of Valuers\u2019 Associations (TEGOVA), the Appraisal Institute (AI),<br>and the International Valuations Standards Council (IVSC).<br>As the year progressed, I worked closely with our dedicated<br>staff and Board to continue the essential work of supporting<br>our Members, while also advancing several transformational<br>initiatives recommended by the Shaping our Future Taskforce.<br>For a comprehensive overview of these achievements and<br>progress, I invite you to explore the 2023-2024 AIC Annual Report.<br>Over the summer, I had the pleasure of attending my first AIC<br>Annual Conference in lovely Charlottetown, PEI, alongside over<br>350 Members, stakeholders, and sponsors. Thanks to our many<br>dedicated staff, volunteers, Members, and sponsors from across<br>the country, our event was an incredible success, full to the brim<br>with invaluable networking opportunities and education sessions.<br>My sincere thanks go out to everyone who played a role in making<br>the event a success.<br>In Charlottetown, we also had the privilege of introducing our<br>2024-2025 Board of Directors, which includes five new Directors<br>and AIC President for 2024-2025, Dena Knopp, P. App., CRA.<br>From the desk of the CEO<br>Donna Dewar: One year in<br>6 Canadian Property Valuation | \u00c9valuation immobili\u00e8re au Canada Return to CONTENTS<br>FROM THE DESK OF THE CEO<br>I want to express my gratitude to our incredible Members and volunteers<br>who are actively shaping the future of professional appraisal. As I look to the<br>future, I am filled with excitement for what lies ahead, and our Members<br>are at the heart of those efforts.<br>Months later, this dedicated group of professionals is hard at work<br>advancing the appraisal profession, and together we continue to make<br>strides to strengthen AIC\u2019s governance, enhance Member support,<br>and move forward in lockstep with our ever-evolving industry.<br>In the coming months, President Dena, the Directors, and I look<br>forward to once again attending as many AIC Provincial AGMs as<br>possible to discuss these and other developments. I hope to see<br>you there!<br>In September, we returned to Parliament Hill for AIC\u2019s 7th<br>Annual Parliament Hill Day, which represents our largest National<br>advocacy event of the year. Over 20 Members of the AIC, including<br>staff, Provincial Directors, and Board Members, engaged in a full<br>day of meetings with Members of Parliament and Cabinet Ministers,<br>their staff, and senior public servants. During these discussions, our<br>Members passionately communicated the crucial role which AIC<br>Professional Appraisers (P. App.) play in the Canadian real estate<br>market. We also held a reception on the Parliamentary Precinct<br>where AIC Members and guests heard from Minister of Crown-<br>Indigenous Relations Gary Anandasangaree and Shadow Minister<br>for Housing MP Scott Aitchison. Over the course of these two days,<br>we raised awareness of the AIC and our Membership at the highest<br>levels of Canadian decision-making, representing the needs and<br>interests of P. App. and advocating for legislative changes that<br>support both the appraisal profession and the broader real property<br>market in Canada.<br>This year on the Hill, we called on the Federal Government to<br>establish a National Roundtable and a Finance Committee study on<br>the entire mortgage lending system to ensure that quality valuation<br>fundamentals and prudent underwriting practices are maintained<br>to safeguard the long-term stability of Canada\u2019s lending system.<br>We also emphasized the value of AIC Professional Appraisers (P. App.)<br>as the gold standard of appraisal, especially where AVMs fall short,<br>and asked that the Federal Government include P. App. in key<br>housing initiatives from the 2024 federal budget.<br>Each year, the size and impact of our Hill Day continues to grow,<br>amplifying the voice of the Canadian appraisal profession. As many<br>of our Members will proudly tell you, at the AIC we \u201cpunch above<br>our weight\u201d in the advocacy arena. Especially given our changing<br>political and economic landscape, advocacy events like these<br>remain a priority for our association as we continue to work towards<br>meaningful change for our Members and the Canadian public.<br>While we\u2019ve made great strides this year, there\u2019s no doubt that<br>we\u2019ve also faced some challenges. The rollout of the new AIC 0124<br>Residential Forms did not go as smoothly as we might have hoped,<br>causing frustration for some Members and stakeholders. Needless<br>to say, the negative impacts which this experience had on our<br>Members should never have happened. There are, no doubt, many<br>lessons to be learned from this experience. I want to personally<br>assure Members that the issue has and will continue to receive top<br>priority from AIC staff and Board members. We fully expect that<br>forms providers will do what is needed to provide a product that<br>meets your needs, and our dedicated team continues to meet with<br>providers to ensure that this is the case.<br>We also understand the challenges many Members are facing<br>due to the ongoing decline in fees. To tackle this critical issue and<br>advocate on your behalf, AIC staff, executive, and Board members<br>are actively engaging with regulators, compliance groups, and<br>government officials. It goes without saying that fair fees are<br>essential for Members\u2019 livelihoods. Strong fees also enable<br>Members to deliver the high-quality, comprehensive reports<br>needed to protect the public and support the Canadian economy.<br>Additionally, we recognize the time pressure which some<br>Members are experiencing in the industry, which could affect the<br>quality of reports. On this front as well, we are taking concrete steps<br>to advocate for our Members and educate stakeholders, including<br>banks, AMCs, and regulators. In addition to fair fees, Members need<br>sufficient time to provide the quality professional services expected<br>of them, and AIC is fully committed to supporting Members to achieve<br>conditions which enable and encourage their best work.<br>In closing, I want to express my gratitude to our incredible<br>Members and volunteers who are actively shaping the future of<br>professional appraisal. As I look to the future, I am filled with<br>excitement for what lies ahead, and our Members are at the heart<br>of those efforts. In the coming year, we will continue driving these<br>initiatives forward, providing unwavering support to our Members,<br>and working together to create an appraisal landscape that serves<br>appraisers, consumers, and the Canadian real property market.<br>Here\u2019s to another exciting, productive year ahead!<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 7<br>DU BUREAU DE LA PR\u00c9SIDENTE-DIRECTRICE G\u00c9N\u00c9RALE<br>Alors que je r\u00e9fl\u00e9chis \u00e0 ma premi\u00e8re ann\u00e9e en tant que<br>pr\u00e9sidente-directrice g\u00e9n\u00e9rale de l\u2019ICE, je suis remplie<br>de fiert\u00e9 et d\u2019optimisme. Mon entr\u00e9e en fonctions a<br>\u00e9t\u00e9 une exp\u00e9rience enrichissante et, en r\u00e9trospective,<br>je vois derri\u00e8re nous une ann\u00e9e d\u2019\u00e9tapes importantes, de croissance<br>strat\u00e9gique et d\u2019\u00e9lan pour un avenir prometteur.<br>Au cours de mes premiers mois, je me suis donn\u00e9e pour priorit\u00e9 de<br>rencontrer le plus grand nombre possible de membres et d\u2019apprendre<br>d\u2019eux. Au cours d\u2019une tourn\u00e9e pancanadienne des AGA provinciales de<br>l\u2019ICE, c\u2019est exactement ce que j\u2019ai eu le plaisir de faire, en rencontrant des<br>centaines de membres d\u2019un oc\u00e9an \u00e0 l\u2019autre et en dialoguant avec eux. Votre<br>accueil chaleureux et votre g\u00e9n\u00e9rosit\u00e9 ont \u00e9t\u00e9 vraiment r\u00e9confortants et<br>ont soulign\u00e9 pour moi la nature sp\u00e9ciale de l\u2019ICE et de ses membres.<br>Ces premiers mois ont \u00e9galement \u00e9t\u00e9 l\u2019occasion de nouer des liens<br>avec nos partenaires internationaux, notamment le Groupe europ\u00e9en<br>des associations d\u2019\u00e9valuateurs (TEGOVA), l\u2019Appraisal Institute (AI) et<br>l\u2019International Valuations Standards Council (IVSC).<br>Au cours de l\u2019ann\u00e9e, j\u2019ai travaill\u00e9 en \u00e9troite collaboration avec notre<br>personnel et notre Conseil d\u2019administration d\u00e9vou\u00e9s pour poursuivre<br>le travail essentiel de soutien \u00e0 nos membres, tout en faisant avancer<br>plusieurs initiatives de transformation recommand\u00e9es par le groupe<br>de travail Fa\u00e7onner notre avenir. Pour un aper\u00e7u complet de ces<br>r\u00e9alisations et progr\u00e8s, je vous invite \u00e0 consulter le Rapport annuel<br>2023-2024 de l\u2019ICE.<br>Au cours de l\u2019\u00e9t\u00e9, j\u2019ai eu le plaisir de participer \u00e0 mon premier<br>Congr\u00e8s national de l&rsquo;ICE dans la charmante ville de Charlottetown,<br>\u00e0 l\u2019\u00cele-du-Prince-\u00c9douard, en compagnie de plus de 350 membres,<br>intervenants et commanditaires. Gr\u00e2ce au d\u00e9vouement de<br>notre personnel, de nos b\u00e9n\u00e9voles, de nos membres et de nos<br>commanditaires de tout le pays, notre \u00e9v\u00e9nement a \u00e9t\u00e9 un succ\u00e8s<br>incroyable, riche en opportunit\u00e9s de r\u00e9seautage et de sessions de<br>formation inestimables. Je remercie sinc\u00e8rement tous ceux qui ont<br>contribu\u00e9 \u00e0 la r\u00e9ussite de cet \u00e9v\u00e9nement.<br>\u00c0 Charlottetown, nous avons \u00e9galement eu le privil\u00e8ge de<br>pr\u00e9senter notre Conseil d\u2019administration 2024-2025, qui comprend<br>cinq nouveaux administrateurs et la pr\u00e9sidente de l\u2019ICE pour<br>2024-2025, Dena Knopp, \u00c9. Pro., CRA. Quelques mois plus tard,<br>ce groupe de professionnels d\u00e9vou\u00e9s travaille d\u2019arrache-pied<br>\u00e0 l\u2019avancement de la profession d\u2019\u00e9valuateur et, ensemble,<br>Du bureau de la<br>pr\u00e9sidente-directrice g\u00e9n\u00e9rale<br>Donna Dewar : Un an apr\u00e8s<br>Canadian Property Valuation | \u00c9valuation 8 immobili\u00e8re au Canada Return to CONTENTS<br>DU BUREAU DE LA PR\u00c9SIDENTE-DIRECTRICE G\u00c9N\u00c9RALE<br>nous continuons \u00e0 progresser pour renforcer la gouvernance de l\u2019ICE,<br>am\u00e9liorer le soutien aux membres et avancer au m\u00eame rythme que<br>notre industrie en constante \u00e9volution.<br>Dans les mois \u00e0 venir, la pr\u00e9sidente Dena, les administrateurs et<br>moi-m\u00eame aurons le plaisir de participer \u00e0 nouveau au plus grand nombre<br>possible d\u2019assembl\u00e9es g\u00e9n\u00e9rales provinciales de l\u2019ICE pour discuter de<br>ces questions et d\u2019autres d\u00e9veloppements. J\u2019esp\u00e8re vous y voir !<br>En septembre, nous sommes retourn\u00e9s sur la Colline du<br>Parlement pour la 7e Journ\u00e9e annuelle de l\u2019ICE sur la Colline du<br>Parlement, qui repr\u00e9sente notre plus importante activit\u00e9 annuelle<br>de promotion de nos int\u00e9r\u00eats au plan national. Plus de 20 membres<br>de l\u2019ICE, y compris des membres du personnel, des directeurs<br>provinciaux et des membres du Conseil d\u2019administration, ont particip\u00e9<br>\u00e0 une journ\u00e9e compl\u00e8te de rencontres avec des d\u00e9put\u00e9s et des<br>ministres, leur personnel et des hauts fonctionnaires. Au cours de<br>ces discussions, nos membres ont communiqu\u00e9 avec passion le r\u00f4le<br>crucial que les \u00e9valuateurs professionnels de l\u2019ICE (\u00c9. Pro.) jouent<br>sur le march\u00e9 immobilier canadien. Nous avons \u00e9galement organis\u00e9<br>une r\u00e9ception dans la Cit\u00e9 parlementaire, au cours de laquelle les<br>membres de l\u2019ICE et leurs invit\u00e9s ont entendu Gary Anandasangaree,<br>ministre des Relations entre la Couronne et les Autochtones, et le<br>d\u00e9put\u00e9 Scott Aitchison, ministre fant\u00f4me du Logement. Au cours de<br>ces deux journ\u00e9es, nous avons fait conna\u00eetre l\u2019ICE et ses membres<br>aux plus hauts niveaux du processus d\u00e9cisionnel canadien, en<br>repr\u00e9sentant les besoins et les int\u00e9r\u00eats des \u00c9. Pro. et en plaidant<br>pour des changements l\u00e9gislatifs qui soutiennent \u00e0 la fois la<br>profession d\u2019\u00e9valuateur et le march\u00e9 de l\u2019immobilier au Canada dans<br>son ensemble.<br>Cette ann\u00e9e, sur la Colline, nous avons demand\u00e9 au gouvernement<br>f\u00e9d\u00e9ral d\u2019\u00e9tablir une table ronde nationale et une \u00e9tude du Comit\u00e9<br>des finances sur l\u2019ensemble du syst\u00e8me de pr\u00eats hypoth\u00e9caires<br>afin de s\u2019assurer que des principes fondamentaux d\u2019\u00e9valuation de<br>qualit\u00e9 et des pratiques de souscription prudentes sont maintenus<br>pour sauvegarder la stabilit\u00e9 \u00e0 long terme du syst\u00e8me de pr\u00eats du<br>Canada. Nous avons \u00e9galement soulign\u00e9 la valeur des \u00e9valuateurs<br>professionnels de l\u2019ICE (\u00c9. Pro.) en tant qu\u2019\u00e9talon-or de l\u2019\u00e9valuation,<br>en particulier lorsque les MEA font d\u00e9faut, et nous avons demand\u00e9 au<br>gouvernement f\u00e9d\u00e9ral d\u2019inclure les \u00c9. Pro. dans les initiatives cl\u00e9s en<br>mati\u00e8re de logement du budget f\u00e9d\u00e9ral de 2024.<br>Chaque ann\u00e9e, l\u2019ampleur et l\u2019impact de notre Journ\u00e9e sur la<br>Colline ne cessent de cro\u00eetre, amplifiant la voix de la profession<br>canadienne d\u2019\u00e9valuateur. Comme nombreux de nos membres vous le<br>diront fi\u00e8rement, \u00e0 l\u2019ICE, nous sommes tr\u00e8s actifs dans le domaine de<br>la d\u00e9fense des int\u00e9r\u00eats. Compte tenu de l\u2019\u00e9volution de la conjoncture<br>politique et \u00e9conomique, les activit\u00e9s de d\u00e9fense des int\u00e9r\u00eats comme<br>celles-ci demeurent une priorit\u00e9 pour notre association, car nous<br>continuons \u00e0 oeuvrer en faveur de changements significatifs pour nos<br>membres et le public canadien.<br>Si nous avons fait de grands progr\u00e8s cette ann\u00e9e, il ne fait aucun<br>doute que nous avons \u00e9galement \u00e9t\u00e9 confront\u00e9s \u00e0 certains d\u00e9fis. Le<br>d\u00e9ploiement des nouveaux Formulaires r\u00e9sidentiels ICE 0124 ne<br>s\u2019est pas d\u00e9roul\u00e9 aussi facilement que nous l\u2019aurions esp\u00e9r\u00e9, ce qui a<br>provoqu\u00e9 la frustration de certains membres et parties prenantes. les<br>effets n\u00e9gatifs occasionn\u00e9s par cette exp\u00e9rience n&rsquo;auraient jamais d\u00fb<br>se produire. Il y a sans aucun doute de nombreuses le\u00e7ons \u00e0 tirer de<br>cette exp\u00e9rience. Je tiens \u00e0 assurer personnellement aux membres<br>que le personnel et les membres du Conseil d\u2019administration de l\u2019ICE<br>ont accord\u00e9 et continueront d\u2019accorder une priorit\u00e9 absolue \u00e0 cette<br>question. Nous attendons des fournisseurs de formulaires qu\u2019ils fassent<br>le n\u00e9cessaire pour proposer un produit qui r\u00e9ponde \u00e0 vos besoins, et<br>notre \u00e9quipe d\u00e9vou\u00e9e continue de rencontrer les fournisseurs pour<br>s\u2019assurer que c\u2019est bien le cas.<br>Nous sommes \u00e9galement conscients des d\u00e9fis auxquels de nombreux<br>membres sont confront\u00e9s en raison de la baisse continue des honoraires.<br>Pour s\u2019attaquer \u00e0 ce probl\u00e8me crucial et d\u00e9fendre vos int\u00e9r\u00eats, le<br>personnel, les dirigeants et les membres du Conseil d\u2019administration<br>de l\u2019ICE s\u2019engagent activement aupr\u00e8s des autorit\u00e9s de r\u00e9glementation,<br>des groupes de conformit\u00e9 et des repr\u00e9sentants du gouvernement. Il va<br>sans dire que des honoraires \u00e9quitables sont essentiels \u00e0 la subsistance<br>des membres. Des honoraires \u00e9lev\u00e9s permettent \u00e9galement aux<br>membres de fournir des rapports complets et de haute qualit\u00e9,<br>n\u00e9cessaires pour prot\u00e9ger le public et soutenir l\u2019\u00e9conomie canadienne.<br>De plus, nous sommes conscients de la pression temporelle que<br>certains membres subissent dans le secteur, ce qui pourrait affecter<br>la qualit\u00e9 des rapports. Sur ce point \u00e9galement, nous prenons des<br>mesures concr\u00e8tes pour d\u00e9fendre les int\u00e9r\u00eats de nos membres et<br>informer les parties prenantes, y compris les banques, les SGE et<br>les autorit\u00e9s de r\u00e9glementation. Outre des honoraires \u00e9quitables,<br>les membres ont besoin de suffisamment de temps pour fournir<br>les services professionnels de qualit\u00e9 que l\u2019on attend d\u2019eux, et l\u2019ICE<br>s\u2019engage pleinement \u00e0 soutenir les membres afin de cr\u00e9er des<br>conditions qui leur permettent et les encouragent \u00e0 faire du bon travail.<br>Pour conclure, je tiens \u00e0 exprimer ma gratitude \u00e0 nos incroyables<br>membres et b\u00e9n\u00e9voles qui fa\u00e7onnent activement l\u2019avenir de<br>l\u2019\u00e9valuation professionnelle. Alors que je me tourne vers l\u2019avenir, je suis<br>enthousiasm\u00e9e par ce qui nous attend, et nos membres sont au coeur de<br>ces efforts. Au cours de l\u2019ann\u00e9e \u00e0 venir, nous continuerons \u00e0 faire avancer<br>ces initiatives, \u00e0 apporter un soutien ind\u00e9fectible \u00e0 nos membres et \u00e0<br>travailler ensemble pour cr\u00e9er un paysage de l\u2019\u00e9valuation au service des<br>\u00e9valuateurs, des consommateurs et du march\u00e9 canadien de l\u2019immobilier.<br>Je vous souhaite donc une autre ann\u00e9e passionnante<br>et productive !<br>Je tiens \u00e0 exprimer ma gratitude \u00e0 nos incroyables membres et b\u00e9n\u00e9voles<br>qui fa\u00e7onnent activement l&rsquo;avenir de l&rsquo;\u00e9valuation professionnelle. Alors que je<br>me tourne vers l&rsquo;avenir, je suis enthousiasm\u00e9e par ce qui nous attend, et nos<br>membres sont au coeur de ces efforts.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 9<br>EXECUTIVE CORNER<br>Q. You have been a Member of<br>the AIC since 2003 and have<br>served in a number of volunteer<br>capacities on the Boards of AIC-Alberta<br>and AIC National. What motivated you<br>to become involved as a volunteer and<br>ultimately to run for AIC President?<br>What spurred me into volunteering initially<br>was when the local Real Estate Board<br>implemented rules restricting MLS access<br>for appraisers. There was an opening for<br>Secretary on the Calgary Chapter, so I<br>volunteered, and we were able to open<br>a dialogue with the Real Estate Board<br>to determine what their issues and<br>concerns were. Ultimately, full access<br>was restored to appraisers. Seeing the<br>results of our advocacy efforts during<br>that first volunteer experience<br>gave me the bug and it was a<br>natural progression to volunteer<br>at the Provincial and then National<br>Boards, and to the role of President.<br>AIC President<br>Dena Knopp, P. App., CRA,<br>stresses collaboration<br>and consensus building<br>Q. You are the first CRA-designated<br>President and only the third female<br>President in the history of the AIC.<br>What do these accomplishments mean to you?<br>I am thankful for the opportunity to serve<br>the membership in this capacity, and proud<br>to do so.<br>It is important for young women in the<br>profession or those considering the profession<br>to see themselves reflected in leadership roles,<br>which, in turn, will encourage them to one day<br>seek a similar path. Perhaps I can serve as an<br>example to other CRAs, but it is also important<br>to note that there are three other CRA members<br>on the National Board of Directors as well. It\u2019s<br>encouraging to see this trend of more CRA<br>Members volunteering at this level.<br>Q. Do you feel that being a CRA gives<br>you a different or unique perspective<br>when serving as AIC\u2019s President?<br>I understand the issues and challenges<br>that our CRA members are facing, because<br>I have a new internal mantra \u2013 stretching and<br>growing. I think this year will challenge me in<br>many different ways, but that is how we grow,<br>both personally and professionally.<br>10 Canadian Property Valuation | \u00c9valuation immobili\u00e8re au Canada Return to CONTENTS<br>EXECUTIVE CORNER<br>My role is to facilitate conversations and<br>make sure we have the information to make<br>informed decisions.<br>I am facing those same issues and<br>challenges every day.<br>Q. What challenges do you<br>expect to encounter during<br>your Presidency?<br>Stepping into this role is a huge change<br>from my usual daily activities, and even<br>from my prior Board involvement. I have<br>a new internal mantra \u2013 stretching and<br>growing. I think this year will challenge<br>me in many different ways, but that<br>is how we grow, both personally and<br>professionally.<br>Q. How would you describe<br>your leadership style and<br>what you will bring to the role<br>of President?<br>I would describe myself as a good listener<br>with a style that is collaborative and<br>consensus building. It is the responsibility<br>of the collective Board to make decisions,<br>not the President. My role is to facilitate<br>conversations and make sure we have<br>the information necessary to make<br>informed decisions.<br>We will have the opportunity to implement bylaw changes to affect a<br>governance model that can operate efficiently, best serve the interests of<br>our Members, and do so in the most cost effective and efficient manner.<br>Together, this will assist in creating the best Member experience possible.<br>Q. Being only the third female<br>President in the AIC\u2019s history<br>speaks to the topic of diversity in<br>the AIC and the profession. How have you<br>seen diversity in the Membership<br>and the profession grow over your years<br>as a Member?<br>My observation from attending AIC events<br>over the last 21 years is that there has been<br>growth in the younger and more diverse<br>segments of our Membership, continually<br>moving us towards being more reflective<br>of the communities in which we live and<br>work. And we can see that trend around<br>us, in other valuation and real estate<br>organizations where there are numerous<br>examples of women in leadership roles.<br>Q. Do you have specific goals as<br>to what you hope to accomplish<br>during your term as President,<br>and how important will it be for you to<br>build on the AIC\u2019s past successes while<br>also planting seeds for its future growth<br>and well-being?<br>It is important to remember that we are<br>not at ground zero. We must always learn<br>from past successes and experiences<br>so that one year builds on the next.<br>My priority is to continue working on<br>our Strategic Plan and Task Force<br>recommendationsand see where we<br>can create opportunity for our Members<br>to ensure that a solid groundwork is<br>laid for the Board that follows us in<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li>While that is our focus, we also<br>deal with issues as they arise. During<br>the first Board meeting after the AGM,<br>the Board directed the Professional<br>Practice Committee to investigate<br>expanding the CRA scope. In the end,<br>I hope that I will have contributed in a<br>meaningful way.<br>Q. There are some major bylaw<br>changes in the works for the<br>AIC. What does that mean for<br>governance of the AIC going forward?<br>We will have the opportunity to ensure<br>we have a governance model that can<br>operate efficiently, best serve the<br>interests of our Members, and do so<br>in the most cost effective and efficient<br>manner, and ultimately assist in<br>creating the best Member experience<br>possible. The bylaw changes are being<br>implemented to enhance the governing<br>process. Along the way, if Members<br>have concerns, require specific<br>information, or want to communicate<br>their feelings in any way whatsoever,<br>we are committed to ensuring they<br>know who to go to and how to do so.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 11<br>EXECUTIVE CORNER<br>Q. 2025 is a Strategic Plan year, so<br>Members should be engaging<br>deeply with the AIC in the<br>coming months to ensure their needs are<br>incorporated into the Plan. How do you<br>see that taking place and why is their<br>engagement so important?<br>While formally reviewing and revising our<br>Strategic Plan typically takes place every<br>three years, the process of implementing<br>the Plan is always ongoing. There was<br>a great deal of Member involvement for<br>our Strategic Plan in 2022. That Plan built<br>upon the Shaping the Future Task Force<br>recommendations which also had extensive<br>Member and stakeholder engagement.<br>While the AIC is continuing the work on<br>implementing those recommendations,<br>it is important for Members to continue to<br>engage &amp; provide their feedback. Members<br>can keep an eye on their email to watch<br>for opportunities to engage via townhalls,<br>webinars, surveys, or other ways we might<br>solicit their feedback.<br>Q. What are your views on the current<br>state and future outlook of both<br>the AIC and the profession?<br>It feels like the pace of change affecting<br>the appraisal industry from technological<br>Members need to continue providing their feedback through emails, texts,<br>phone calls, or one-on-one conversations. It is extremely important for<br>Members to initiate and maintain that communication.<br>advancements has never been greater.<br>Generative AI is one recent example.<br>I recently read a book that I would highly<br>recommend: Build for Tomorrow:<br>An Action Plan for Embracing Change,<br>Adapting Fast, and Future-Proofing<br>Your Career by Jason Feifer. The title<br>is self-evident, and there are so many<br>insights to be gained with respect to<br>technology changes through history, how<br>we can best adapt to them, and how those<br>fared who tried to stop them.<br>Fortunately, the groundwork has<br>been laid for expanded scope of practice<br>in other areas, and we will continue to<br>advocate for all of the work that our<br>members do and the benefit that an AIC<br>member\u2019s local expertise brings.<br>Q. What are you most looking<br>forward to for your term<br>as President?<br>First, travelling across the country to<br>many provinces I have never visited,<br>meeting Members from different regions,<br>and learning about the work they do<br>and the challenges they face. Second,<br>I am also very much looking forward<br>to working with our National Board<br>Members, many of whom are new, and<br>with Donna Dewar, who is settling into the<br>CEO role and bringing fresh eyes and a<br>fresh perspective.<br>Q. Finally, what do you want<br>Members to know about you?<br>I was born and raised on a farm in<br>south-central Alberta, however, my entire<br>professional life has been spent in Calgary.<br>My first career was as a Legal Assistant.<br>When I found myself looking for a new<br>career path about 15 years later, I came<br>upon real estate appraisal as an option,<br>and I fondly recalled looking at the appraisals<br>I ordered in the foreclosure actions (photos<br>glued onto the page in those days). I earned<br>my CRA designation in 2007, and now own<br>and operate Advantage Valuation Group,<br>a small appraisal firm serving Calgary<br>and the surrounding area. Our residential<br>valuations include vacant land, leasehold<br>properties, and acreages, and relocation<br>appraisals. I love the nuances of the<br>residential market and the challenges of<br>determining what drives value for buyers<br>and sellers alike. When not entrenched<br>in appraisals or appraisal business, my<br>husband Denton and I enjoy spending time<br>with our extended families, including our<br>Black Lab Molly.<br>The AIC\u2019s years of successful advocacy work have put us in the best possible<br>position to deal with the challenges facing our industry now and in the future.<br>We will continue to advocate for our profession and for our Members in<br>order that our future remains bright.<br>Canadian Property Valuation | \u00c9valuation 12 immobili\u00e8re au Canada Return to CONTENTS<br>LE COIN DE L\u2019EX\u00c9CUTIF<br>J\u2019ai un nouveau mantra interne \u2013 s\u2019\u00e9tirer et grandir.<br>Je pense que cette ann\u00e9e me mettra au d\u00e9fi de bien<br>des fa\u00e7ons, mais c\u2019est ainsi que nous grandissons,<br>tant sur le plan personnel que professionnel.<br>La pr\u00e9sidente de l\u2019ICE,<br>Dena Knopp, \u00c9. Pro., CRA,<br>met l\u2019accent sur la collaboration<br>et la recherche de consensus<br>Q. Vous \u00eates membre de l\u2019ICE<br>depuis 2003 et avez occup\u00e9<br>plusieurs fonctions b\u00e9n\u00e9voles<br>au sein des Conseils d\u2019administration<br>de l\u2019ICE-Alberta et de l\u2019ICE national.<br>Qu\u2019est-ce qui vous a pouss\u00e9e \u00e0 vous<br>impliquer en tant que b\u00e9n\u00e9vole et<br>finalement \u00e0 poser votre candidature \u00e0<br>la pr\u00e9sidence de l\u2019ICE?<br>Ce qui m\u2019a incit\u00e9 \u00e0 me porter volontaire<br>au d\u00e9part, c\u2019est lorsque la chambre<br>immobili\u00e8re locale a mis en place des<br>r\u00e8gles restreignant l\u2019acc\u00e8s au MLS pour<br>les \u00e9valuateurs. Il y avait un poste de<br>secr\u00e9taire \u00e0 pourvoir au sein de la<br>r\u00e9gion de Calgary, je me suis donc<br>port\u00e9e volontaire et nous avons pu<br>entamer un dialogue avec la chambre<br>immobili\u00e8re afin de d\u00e9terminer quels<br>\u00e9taient leurs probl\u00e8mes et leurs<br>pr\u00e9occupations. \u00c9ventuellement,<br>les \u00e9valuateurs ont retrouv\u00e9 le plein<br>acc\u00e8s au MLS. Le fait de voir les<br>r\u00e9sultats de nos efforts de d\u00e9fense<br>lors de cette premi\u00e8re exp\u00e9rience<br>de b\u00e9n\u00e9volat m\u2019a donn\u00e9 la piq\u00fbre,<br>et c\u2019est tout naturellement que je me suis<br>port\u00e9e volontaire aupr\u00e8s des chambres<br>provinciales, puis nationales, et que j\u2019ai<br>acc\u00e9d\u00e9 au r\u00f4le de pr\u00e9sidente.<br>Q. Vous \u00eates la premi\u00e8re pr\u00e9sidente<br>d\u00e9sign\u00e9e CRA et seulement la<br>troisi\u00e8me femme pr\u00e9sidente<br>dans l\u2019histoire de l\u2019ICE. Que signifient ces<br>accomplissements pour vous?<br>Je suis reconnaissante de l\u2019occasion qui<br>m\u2019est donn\u00e9e de servir les membres en<br>cette qualit\u00e9, et je suis fi\u00e8re de le faire.<br>Il est important que les jeunes<br>femmes qui exercent la profession ou qui<br>envisagent de l\u2019exercer se voient confi\u00e9es<br>des r\u00f4les de direction, ce qui, en retour,<br>les encouragera \u00e0 emprunter un jour une<br>voie similaire. Je peux peut-\u00eatre servir<br>d\u2019exemple \u00e0 d\u2019autres membres CRA, mais il<br>est \u00e9galement important de noter que trois<br>autres membres CRA si\u00e8gent \u00e9galement<br>au Conseil d\u2019administration national. Il<br>est positif de voir cette tendance d\u2019un plus<br>grand nombre de membres CRA se porter<br>volontaires \u00e0 ce niveau.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 13<br>LE COIN DE L\u2019EX\u00c9CUTIF<br>Nous aurons l\u2019occasion de nous assurer que nous disposons d\u2019un mod\u00e8le<br>de gouvernance capable de fonctionner efficacement, de servir au<br>mieux les int\u00e9r\u00eats de nos membres, et ce, de la mani\u00e8re la plus rentable et<br>la plus efficace, contribuant ainsi \u00e0 cr\u00e9er la meilleure exp\u00e9rience possible<br>pour les membres.<br>Mon r\u00f4le est de faciliter les conversations et de<br>m\u2019assurer que nous disposons des informations<br>n\u00e9cessaires pour prendre des d\u00e9cisions \u00e9clair\u00e9es.<br>Q. Pensez-vous que le fait d\u2019\u00eatre<br>membre CRA vous donne une<br>perspective diff\u00e9rente ou<br>unique en tant que pr\u00e9sidente de l\u2019ICE?<br>Je comprends les probl\u00e8mes et les d\u00e9fis<br>auxquels sont confront\u00e9s les membres<br>CRA, car je suis confront\u00e9e \u00e0 ces m\u00eames<br>probl\u00e8mes et d\u00e9fis tous les jours.<br>Q. Quels sont les d\u00e9fis que vous<br>vous attendez \u00e0 rencontrer au<br>cours de votre pr\u00e9sidence?<br>Entrer dans ce r\u00f4le repr\u00e9sente un \u00e9norme<br>changement par rapport \u00e0 mes activit\u00e9s<br>quotidiennes habituelles, et m\u00eame par<br>rapport \u00e0 ma participation ant\u00e9rieure au<br>Conseil d\u2019administration. J\u2019ai un nouveau<br>mantra interne &#8211; s\u2019\u00e9tirer et grandir. Je pense<br>que cette ann\u00e9e me mettra au d\u00e9fi de bien des<br>fa\u00e7ons, mais c\u2019est ainsi que nous grandissons,<br>tant sur le plan personnel que professionnel.<br>Q. Comment d\u00e9cririez-vous votre<br>style de leadership et ce que vous<br>apporterez au r\u00f4le de la pr\u00e9sidence?<br>Je me d\u00e9crirais comme quelqu\u2019un qui<br>sait \u00e9couter et dont le style est ax\u00e9 sur la<br>collaboration et la recherche du consensus.<br>C\u2019est au Conseil d\u2019administration collectif<br>qu\u2019il incombe de prendre des d\u00e9cisions, et<br>non \u00e0 la pr\u00e9sidente. Mon r\u00f4le est de faciliter<br>les conversations et de m\u2019assurer que nous<br>disposons des informations n\u00e9cessaires pour<br>prendre des d\u00e9cisions \u00e9clair\u00e9es.<br>Q. Le fait d\u2019\u00eatre seulement la<br>troisi\u00e8me femme pr\u00e9sidente<br>dans l\u2019histoire de l\u2019ICE \u00e9voque<br>le th\u00e8me de la diversit\u00e9 au sein de l\u2019ICE et<br>de la profession. Comment avez-vous vu<br>la diversit\u00e9 au sein des effectifs et de la<br>profession se d\u00e9velopper au cours de vos<br>ann\u00e9es en tant que membre?<br>J\u2019ai observ\u00e9, en participant aux \u00e9v\u00e9nements<br>de l\u2019ICE au cours des 21 derni\u00e8res ann\u00e9es,<br>que les segments les plus jeunes et les plus<br>diversifi\u00e9s de nos membres ont augment\u00e9,<br>ce qui nous permet de mieux refl\u00e9ter les<br>communaut\u00e9s au sein desquelles nous<br>vivons et travaillons. Et nous pouvons<br>observer cette tendance autour de nous,<br>dans d\u2019autres organisations d\u2019\u00e9valuation<br>et d\u2019immobilier, o\u00f9 il y a de nombreux<br>exemples de femmes occupant des postes<br>de direction.<br>Q. Avez-vous des objectifs<br>sp\u00e9cifiques quant \u00e0 ce que vous<br>esp\u00e9rez accomplir au cours de<br>votre mandat \u00e0 la pr\u00e9sidence, et dans<br>quelle mesure sera-t-il important pour<br>vous de construire sur les succ\u00e8s pass\u00e9s<br>de l\u2019ICE tout en semant pour sa croissance<br>et son bien-\u00eatre futurs?<br>Il est important de se rappeler que nous ne<br>sommes pas au point z\u00e9ro. Nous devons<br>toujours tirer les le\u00e7ons des r\u00e9ussites et<br>des exp\u00e9riences pass\u00e9es afin qu\u2019une ann\u00e9e<br>s\u2019appuie sur la pr\u00e9c\u00e9dente. Ma priorit\u00e9 est<br>de continuer \u00e0 travailler sur notre plan<br>strat\u00e9gique et sur les recommandations<br>du groupe de travail, et de voir o\u00f9 nous<br>pouvons cr\u00e9er des opportunit\u00e9s pour nos<br>membres afin de garantir que des bases<br>solides sont pos\u00e9es pour le Conseil<br>qui nous succ\u00e9dera en 2025. Tout en<br>nous concentrant sur cet objectif, nous<br>devrons aussi r\u00e9pondre aux questions<br>qui se pr\u00e9senteront. Lors de sa premi\u00e8re<br>r\u00e9union apr\u00e8s l\u2019AGA, le Conseil a<br>demand\u00e9 \u00e0 la Commission de la pratique<br>professionnelle d\u2019\u00e9tudier la possibilit\u00e9<br>d\u2019\u00e9largir le champ d\u2019action des CRA. \u00c0 la<br>fin de mon mandat, j\u2019esp\u00e8re que j\u2019aurai<br>apport\u00e9 une contribution significative.<br>Q. L\u2019ICE s\u2019appr\u00eate \u00e0 apporter<br>d\u2019importantes modifications \u00e0<br>ses r\u00e8glements administratifs.<br>Qu\u2019est-ce que cela signifie pour la<br>gouvernance de l\u2019ICE \u00e0 l\u2019avenir?<br>Nous aurons l\u2019occasion de nous<br>assurer que nous disposons d\u2019un<br>mod\u00e8le de gouvernance capable de<br>fonctionner efficacement, de servir au<br>mieux les int\u00e9r\u00eats de nos membres,<br>et ce de la mani\u00e8re la plus rentable et<br>la plus efficace, et en fin de compte<br>de contribuer \u00e0 cr\u00e9er la meilleure<br>exp\u00e9rience possible pour les membres.<br>Les modifications apport\u00e9es \u00e0 la<br>r\u00e9glementation interne sont mises en<br>oeuvre pour am\u00e9liorer le processus de<br>gouvernance. En cours de route, si les<br>membres ont des pr\u00e9occupations, ont<br>besoin d\u2019informations sp\u00e9cifiques ou<br>veulent communiquer leurs sentiments<br>de quelque mani\u00e8re que ce soit, nous<br>nous engageons \u00e0 faire en sorte qu\u2019ils<br>sachent \u00e0 qui s\u2019adresser et comment<br>le faire.<br>Canadian Property Valuation | \u00c9valuation 14 immobili\u00e8re au Canada Return to CONTENTS<br>LE COIN DE L\u2019EX\u00c9CUTIF<br>Les ann\u00e9es de travail fructueux de l\u2019ICE en mati\u00e8re de d\u00e9fense des int\u00e9r\u00eats nous<br>ont plac\u00e9s dans la meilleure position possible pour relever les d\u00e9fis auxquels<br>notre secteur est confront\u00e9 aujourd\u2019hui et \u00e0 l\u2019avenir. Nous continuerons \u00e0<br>d\u00e9fendre les int\u00e9r\u00eats de notre profession et de nos membres afin que notre<br>avenir reste prometteur.<br>Les membres doivent continuer \u00e0 faire part de<br>leurs commentaires par le biais de courriels, textos,<br>appels t\u00e9l\u00e9phoniques ou conversations individuelles.<br>Il est extr\u00eamement important que les membres<br>initient et maintiennent cette communication.<br>Q. 2025 \u00e9tant une ann\u00e9e<br>d\u2019\u00e9laboration du plan<br>strat\u00e9gique, les membres<br>devraient s\u2019engager \u00e0 fond avec l\u2019ICE<br>dans les mois \u00e0 venir pour s\u2019assurer que<br>leurs besoins sont int\u00e9gr\u00e9s dans le plan.<br>Comment envisagez-vous cet engagement<br>et pourquoi est-il si important?<br>Si l\u2019examen et la r\u00e9vision formels de<br>notre plan strat\u00e9gique ont lieu tous<br>les trois ans, le processus de mise en<br>oeuvre du plan est toujours en cours. Les<br>membres ont \u00e9t\u00e9 largement impliqu\u00e9s<br>dans l\u2019\u00e9laboration de notre plan<br>strat\u00e9gique pour 2022. Ce plan s\u2019appuyait<br>sur les recommandations du groupe de<br>travail \u00ab Fa\u00e7onner notre avenir \u00bb, qui avait<br>\u00e9galement b\u00e9n\u00e9fici\u00e9 d\u2019un engagement<br>important de la part des membres et<br>des parties prenantes. Alors que l\u2019ICE<br>poursuit le travail de mise en oeuvre de<br>ces recommandations, il est important<br>que les membres continuent \u00e0 s\u2019engager<br>et \u00e0 faire part de leurs commentaires.<br>Les membres peuvent garder un oeil sur<br>leur courrier \u00e9lectronique pour surveiller<br>les opportunit\u00e9s d\u2019engagement par le<br>biais d\u2019assembl\u00e9es publiques, de<br>webinaires, de sondages ou d\u2019autres<br>moyens par lesquels nous pourrions<br>solliciter leur avis.<br>Q. Que pensez-vous de l\u2019\u00e9tat actuel<br>et des perspectives d\u2019avenir de<br>l\u2019ICE et de la profession?<br>Il semble que le rythme des changements<br>qui affectent le secteur de l\u2019\u00e9valuation dans<br>la foul\u00e9e des avanc\u00e9es technologiques n\u2019ait<br>jamais \u00e9t\u00e9 aussi rapide. L\u2019IA g\u00e9n\u00e9rative en<br>est un exemple r\u00e9cent. J\u2019ai r\u00e9cemment lu un<br>livre que je recommande vivement :<br>Build for Tomorrow : An Action Plan for<br>Embracing Change, Adapting Fast, and<br>Future-Proofing Your Career de Jason<br>Feifer. Le titre est \u00e9vident, et il y a tant de<br>choses \u00e0 apprendre sur les changements<br>technologiques au cours de l\u2019histoire,<br>sur la mani\u00e8re dont nous pouvons nous y<br>adapter au mieux et sur le sort de ceux qui<br>ont essay\u00e9 de les arr\u00eater.<br>Heureusement, les bases ont \u00e9t\u00e9<br>jet\u00e9es pour l\u2019\u00e9largissement du champ de<br>pratique dans d\u2019autres domaines, et nous<br>continuerons \u00e0 d\u00e9fendre le travail de nos<br>membres et les avantages qu\u2019apporte<br>l\u2019expertise locale d\u2019un membre de l\u2019ICE.<br>Q. Qu\u2019attendez-vous le plus de<br>votre mandat de pr\u00e9sidente?<br>Tout d\u2019abord, voyager \u00e0 travers<br>le pays dans plusieurs provinces que<br>je n\u2019ai pas encore visit\u00e9es, rencontrer<br>des membres de diff\u00e9rentes r\u00e9gions et<br>d\u00e9couvrir le travail qu\u2019ils accomplissent<br>et les d\u00e9fis auxquels ils sont confront\u00e9s.<br>Deuxi\u00e8mement, j\u2019ai h\u00e2te de travailler<br>avec les membres de notre Conseil<br>d\u2019administration national, dont beaucoup<br>sont nouveaux, et avec Donna Dewar,<br>qui s\u2019installe dans le r\u00f4le de pr\u00e9sidentedirectrice<br>g\u00e9n\u00e9rale et apporte un regard<br>neuf et une nouvelle perspective.<br>Q. Enfin, que voulez-vous que les<br>membres sachent de vous?<br>Je suis n\u00e9e et j\u2019ai grandi sur une<br>ferme du centre-sud de l\u2019Alberta, mais<br>j\u2019ai pass\u00e9 toute ma vie professionnelle \u00e0<br>Calgary. Ma premi\u00e8re carri\u00e8re a \u00e9t\u00e9 celle<br>d\u2019assistante juridique. Une quinzaine<br>d\u2019ann\u00e9es plus tard, lorsque j\u2019ai cherch\u00e9<br>un nouveau d\u00e9bouch\u00e9 de carri\u00e8re, j\u2019ai<br>d\u00e9couvert que l\u2019\u00e9valuation immobili\u00e8re<br>\u00e9tait une option. Je me souviens avec plaisir<br>des \u00e9valuations que j\u2019ai command\u00e9es dans<br>le cadre des actions en saisie immobili\u00e8re<br>(\u00e0 l\u2019\u00e9poque, les photos \u00e9taient coll\u00e9es sur<br>la page). J\u2019ai obtenu ma d\u00e9signation CRA<br>en 2007, et je suis aujourd\u2019hui propri\u00e9taire<br>et exploitant d\u2019Advantage Valuation<br>Group, une petite soci\u00e9t\u00e9 d\u2019\u00e9valuation<br>desservant Calgary et ses environs. Nos<br>\u00e9valuations r\u00e9sidentielles comprennent<br>les terrains vacants, les propri\u00e9t\u00e9s \u00e0 bail<br>et les propri\u00e9t\u00e9s de superficie, ainsi que<br>les \u00e9valuations de relocalisation. J\u2019aime<br>les nuances du march\u00e9 r\u00e9sidentiel et les<br>d\u00e9fis que repr\u00e9sente la d\u00e9termination<br>de la valeur pour les acheteurs et les<br>vendeurs. Lorsqu\u2019ils nous ne sommes pas<br>plong\u00e9s dans les \u00e9valuations ou les affaires<br>d\u2019\u00e9valuation, mon mari Denton et moi<br>aimons passer du temps avec notre famille<br>\u00e9largie, y compris notre Black Lab Molly.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 15<br>The Personal refers to The Personal Insurance Company. The Personal\u00ae and related trademarks<br>are trademarks of The Personal Insurance Company, used under licence. Certain conditions,<br>limitations and exclusions may apply. Auto insurance is not available in Manitoba, Saskatchewan<br>and British Columbia due to government-run plans.<br>La Personnelle d\u00e9signe La Personnelle, compagnie d\u2019assurances. La marque La PersonnelleMD<br>ainsi que les marques de commerce associ\u00e9es sont des marques de commerce de La Personnelle,<br>compagnie d\u2019assurances, employ\u00e9es sous licence. Certaines conditions, exclusions et limitations<br>peuvent s\u2019appliquer. L\u2019assurance auto n\u2019est pas o\u0083 erte au Manitoba, en Saskatchewan ni en<br>Colombie-Britannique, o\u00f9 il existe des r\u00e9gimes d\u2019assurance gouvernementaux.<br>Enjoy access to<br>exclusive home<br>and auto<br>insurance savings<br>Profi tez d\u2019\u00e9conomies<br>exclusives sur vos<br>assurances auto<br>et habitation<br>Obtenez une soumission d\u00e8s aujourd\u2019hui<br>lapersonnelle.com\/aicanada<br>1 888 476-8737<br>Get a quote today<br>thepersonal.com\/aicanada<br>1-888-476-8737<br>Get exceptional service<br>and exclusive rates when<br>you switch to The Personal.<br>Choisissez La Personnelle pour<br>obtenir un service exceptionnel<br>et des tarifs exclusifs.<br>Have you noticed more green license plates on the road<br>lately? It\u2019s not just a coincidence. In 2022, electric vehicles<br>(EVs) made up 14% of global vehicle sales, a substantial<br>leap from 9% in 2021. In Canada, the shift toward zeroemission<br>vehicles (ZEVs) is even more dramatic. With regulations<br>requiring at least 20% of new vehicles sold to be ZEVs by 2026 and<br>an ambitious target of 100% by 2035, the momentum is undeniable.<br>This rapid expansion is mirrored by the tenfold increase in ZEV<br>registrations across Canada since 2017, particularly in provinces<br>like Quebec, Ontario, and British Columbia, which, along with<br>the territories, accounted for over 92% of new ZEV registrations<br>between 2018 and 2022. As the country marches toward these<br>BY NATALIA KOURANT, P. APP., AACI, B. ECON., MBA<br>ambitious goals, projections suggest there could be 10 million ZEVs<br>on Canadian roads by 2035 \u2013 a seismic shift that property owners<br>and appraisers simply cannot afford to overlook.<br>EVs are no longer a fleeting trend; they are becoming an integral part<br>of our everyday lives. As more drivers embrace this green technology,<br>the demand for accessible EV charging stations is skyrocketing.<br>But it\u2019s not just about convenience. These charging stations are<br>redefining property values. For property owners and appraisers,<br>grasping the impact of EV charging infrastructure is now essential.<br>This article delves into the various types of EV charging stations,<br>the costs and installation processes involved, and their influence on<br>both residential and commercial properties.<br>PROPERTY VALUE:<br>Powering<br>the influence of EV charging stations on real estate value<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 17<br>infrastructure, making them more common in high-traffic areas<br>such as shopping malls and highways. Their installation is typically<br>seen in commercial zones, where they can substantially enhance<br>property value by attracting customers and tenants who need<br>quick charging solutions.<br>WHAT ABOUT INSTALLATION AND COSTS?<br>Now for the big question: How much are property owners<br>paying for EV charging stations? The installation costs can<br>vary widely, based on the type of property and the specific<br>charging station. Understanding these factors is essential for<br>property owners and appraisers to make informed decisions.<br>Residential home installation<br>For a standard residential installation, in 2024, the setup typically<br>involves a 60-amp breaker, #6 gauge cable, an outdoor connector,<br>and the charger itself. Factoring in labor costs, the total investment<br>for a typical home installation ranges between $3,000 and $5,000.<br>This covers all essential materials and services, resulting in a<br>reliable and efficient charging solution.<br>For new construction owners in Quebec, there is a built-in<br>benefit: the 2018 building code requires EV charger wiring to be<br>installed from the start. This foresight cuts the cost of installing a<br>charger down to an affordable $1,500 to $2,000.<br>Condominium installation<br>When installing EV charging stations in condominiums and<br>multi-residential buildings, the costs can vary significantly<br>based on several factors. If the installation is planned during the<br>construction phase, it allows for a more optimal and cost-effective<br>setup. However, retrofitting an existing building often involves<br>higher expenses due to the additional complexities involved.<br>The number of chargers required and the type of installation \u2013<br>whether pedestal, wall-mounted, indoor, or outdoor \u2013 will also<br>influence the overall cost.<br>In these multi-residential settings, installations are particularly<br>intricate and often necessitate additional components like a Demand<br>Charge Controller (DCC) to legally and safely manage power<br>distribution. Security measures to prevent unauthorized use are also<br>critical. As a result of these complexities, the cost of installing EV<br>charging stations in condominiums and multi-residential buildings<br>typically starts at $5,000 for one charging station.<br>Commercial installation<br>Commercial installations come with their own unique challenges,<br>demanding meticulous planning and often significant infrastructure<br>upgrades. Costs can vary widely depending on the project\u2019s scope,<br>the need for specialized engineering studies, and the availability of<br>grants and incentives.<br>Selecting the right equipment, determining the optimal number<br>of charging stations, and choosing the best installation type are<br>strategic decisions that hinge on projected ROI. To ensure a tailored<br>solution that meets both budget and business goals, it is essential<br>to collaborate closely with an expert.<br>THE BASICS OF EV CHARGING STATIONS<br>If you are new to the world of EV charging, consider this your crash<br>course. EV charging stations are categorized into three main types:<br>Level 1, Level 2, and Level 3. Each type caters to different needs and<br>offers unique benefits that can impact property value.<br>Level 1 charging stations<br>Level 1 charging stations use standard household outlets (120 V).<br>These chargers are slow, typically taking up to 50 hours to fully<br>charge an EV. Due to their basic nature and minimal infrastructure<br>requirements, Level 1 chargers have no impact on property<br>value. They are often considered temporary or portable solutions,<br>primarily used when no other options are available.<br>Level 2 charging stations<br>Level 2 charging stations are more common in residential and<br>commercial properties. They operate on 240 V, similar to an electric<br>stove, and provide faster charging, typically taking 4-10 hours<br>to fully charge an EV. The convenience and efficiency of Level 2<br>chargers make them a valuable addition to properties, significantly<br>enhancing their appeal and increasing their market value.<br>Level 3 charging stations<br>Level 3 charging stations, also known as DC Fast Chargers,<br>are high-power public charging stations operating at 480V.<br>These chargers can significantly boost an EV\u2019s charge within<br>25-30 minutes. However, they require specialized equipment and<br>Canadian Property Valuation | \u00c9valuation 18 immobili\u00e8re au Canada Return to CONTENTS<br>IMPACT ON PROPERTY VALUE<br>The integration of EV charging stations is becoming a key factor in<br>property appraisals, as they can significantly enhance the value<br>and marketability of both residential and commercial properties.<br>For appraisers, understanding this impact is crucial in accurately<br>assessing a property\u2019s value in today\u2019s evolving market.<br>Residential properties<br>In residential settings, the presence of EV charging stations<br>is more than just a modern convenience \u2013 it is a selling point.<br>Imagine having the luxury of filling up your car at home. A stress<br>free, low cost, and safe energy source for your daily commute.<br>Homes equipped with these stations are increasingly appealing to<br>the growing number of EV owners, leading to faster sales and often<br>higher price points. As EV adoption continues to rise, properties with<br>built-in charging infrastructure are positioned to stand out in the<br>market, making them a valuable addition in appraisals.<br>Commercial properties<br>For commercial properties, EV charging stations are a magnet for<br>environmentally conscious businesses and tenants. Properties that<br>offer this amenity not only command higher rents, but also benefit<br>from improved occupancy rates.<br>In an era where sustainability is a top priority for many companies,<br>the availability of EV charging infrastructure is becoming a critical<br>factor in property desirability. For appraisers, this means recognizing<br>the potential for increased revenue streams and overall property<br>value when EV charging is part of the equation. To assess the value<br>of a commercial installation, I would recommend asking the property<br>owner for a copy of the invoice for the work completed and paid for, to<br>give you an idea of the costs incurred.<br>Factors influencing value increase<br>Now that you know the impact EV charging stations can have, the<br>challenge is determining their value contribution to a property.<br>These factors will help you assess their influence accurately.<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Location: Urban properties often experience a greater value<br>boost compared to rural areas, driven by higher rates of EV<br>adoption and demand for charging infrastructure.<\/li>\n\n\n\n<li>Quality and type of installation: High-quality, well-executed<br>installations \u2013 whether Level 2 or DC fast chargers \u2013 tend to offer<br>greater value. It\u2019s not just about the charger itself, but also its<br>surroundings. The choice between pedestal or wall-mounted<br>setups, and whether they are indoors or outdoors, can impact<br>the valuation. In commercial settings, factors such as lighting,<br>the overall appearance of the charging spots, and the placement<br>of chargers within the parking lot also play a significant role in<br>influencing value.<\/li>\n\n\n\n<li>Market demand: As EV adoption accelerates, so does the demand<br>for properties equipped with charging capabilities. This growing<br>demand directly correlates with increased property values,<br>making these installations a forward-looking investment. In the<br>future, we might even consider charging stations as a must-have,<br>much like in-unit laundry or air conditioning.<br>TAKING THE NEXT STEPS: ENHANCING<br>PROPERTY VALUE WITH EV CHARGING STATIONS<br>As we\u2019ve explored, EV charging stations have a profound impact on<br>property value, making them a strategic consideration for property<br>appraisers and owners alike. But what if you are ready to take action<br>and leverage this trend to enhance the value of your properties?<br>If you are considering recommending EV charging stations to clients<br>as a way to boost property value, or if you are looking to optimize<br>the value of your own property, you could consider partnering with<br>MaBorne. We specialize in designing tailored EV charging solutions<br>that not only increase market value, but also provide a solid return on<br>investment for those holding onto their buildings for the long term.<br>Sources: https:\/\/www.statcan.gc.ca\/o1\/en\/plus\/5497-wattselectric-<br>vehicles-and-future-electricity-generation-needs<br>About the Author<br>With over 25 years of experience in the real estate industry as a financial<br>analyst and appraiser, Natalia Kourant has a deep understanding<br>of urban development economics and real estate evaluation. She<br>studied at the University of British Columbia and earned her MBA from<br>McGill University. Five years ago, Natalia co-founded Actif, a company<br>specializing in heating and hot water systems, where she honed her<br>expertise in navigating grants and subsidies. Today, she brings this skill<br>to a new venture as the head of MaBorne.<br>Network Management for Valuations<br>The right appraiser on every order, every time.<br>Solidifi\u00ae provides appraisal services to the residential<br>mortgage lending industry. Our clients include<br>Canada\u2019s top lending institutions.<br>TRUSTED BY THE NATION\u2019S LARGEST MORTGAGE LENDERS<br>support@solidifi.com | 866.583.3983 | solidifi.ca<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 19<br>Remarquez-vous de plus en plus de plaques vertes sur nos<br>routes? Si oui, vous n\u2019\u00eates pas seul! En 2022, les v\u00e9hicules<br>\u00e9lectriques (VE) repr\u00e9sentaient 14 % des ventes mondiales<br>de v\u00e9hicules, une augmentation consid\u00e9rable par rapport<br>aux 9 % de 2021. Au Canada, la transition vers les v\u00e9hicules z\u00e9ro<br>\u00e9mission est encore plus marqu\u00e9e. Avec des r\u00e8glements imposant<br>qu\u2019au moins 20 % des nouveaux v\u00e9hicules vendus soient z\u00e9ro<br>\u00e9mission d\u2019ici 2026 et un objectif ambitieux de 100 % d\u2019ici 2035,<br>l\u2019\u00e9lan est ind\u00e9niable.<br>Cette tendance s\u2019illustre d\u00e9j\u00e0 dans les chiffres: le nombre<br>de v\u00e9hicules z\u00e9ro \u00e9mission enregistr\u00e9s au Canada est<br>d\u00e9j\u00e0 10 fois sup\u00e9rieur \u00e0 celui de 2017! Le Qu\u00e9bec, l\u2019Ontario,<br>la Colombie-Britannique et les territoires repr\u00e9sentent d\u2019ailleurs<br>92 % des nouvelles immatriculations entre 2018 et 2022. Alors<br>que le pays avance vers ces objectifs ambitieux, les projections<br>PAR NATALIA KOURANT, \u00c9. PRO., AACI, B. ECON., MBA<br>LA VALEUR IMMOBILI\u00c8RE :<br>Stimuler<br>l\u2019influence des bornes de recharge pour VE sur la valeur des propri\u00e9t\u00e9s<br>sugg\u00e8rent qu\u2019il pourrait y avoir jusqu\u2019\u00e0 10 millions de v\u00e9hicules z\u00e9ro<br>\u00e9mission sur les routes canadiennes d\u2019ici 2035 \u2013 un changement<br>sismique que les propri\u00e9taires immobiliers et les \u00e9valuateurs ne<br>peuvent tout simplement pas ignorer.<br>Les VE ne sont plus une tendance passag\u00e8re; ils deviennent une<br>partie int\u00e9grante de notre quotidien. Alors que de plus en plus de<br>conducteurs adoptent cette technologie verte, la demande pour des<br>bornes de recharge pour VE explose.<br>Mais il ne s\u2019agit pas seulement de commodit\u00e9 \u2013 ces bornes<br>red\u00e9finissent la valeur des propri\u00e9t\u00e9s. Pour les propri\u00e9taires<br>immobiliers et les \u00e9valuateurs, comprendre l\u2019impact de<br>l\u2019infrastructure de recharge pour VE est d\u00e9sormais essentiel.<br>Cet article explore les diff\u00e9rents types de bornes de recharge<br>pour VE, les co\u00fbts et les processus d\u2019installation impliqu\u00e9s, et leur<br>influence sur les propri\u00e9t\u00e9s r\u00e9sidentielles et commerciales.<br>Canadian Property Valuation | \u00c9valuation 20 immobili\u00e8re au Canada Return to CONTENTS<br>BORNES DE RECHARGE POUR VE 101<br>Si vous \u00eates novice en mati\u00e8re de recharge pour VE, consid\u00e9rez<br>ceci comme votre cours intensif. Les bornes de recharge pour un<br>VE sont class\u00e9es en trois types principaux : niveau 1, niveau 2, et<br>niveau 3. Chaque type r\u00e9pond \u00e0 des besoins diff\u00e9rents et offre des<br>avantages uniques qui peuvent influencer la valeur des propri\u00e9t\u00e9s.<br>Bornes de recharge de niveau 1<br>Les bornes de recharge de niveau 1 utilisent des prises domestiques<br>standard (120 V). Ces chargeurs sont lents, prenant g\u00e9n\u00e9ralement<br>jusqu\u2019\u00e0 50 heures pour recharger compl\u00e8tement un VE. En raison de<br>leur nature fondamentale et de leurs exigences minimales en mati\u00e8re<br>d\u2019infrastructure, les bornes de niveau 1 n\u2019ont pratiquement aucun<br>impact sur la valeur des propri\u00e9t\u00e9s. Elles sont souvent consid\u00e9r\u00e9es<br>comme des solutions temporaires ou portables, principalement<br>utilis\u00e9es lorsqu\u2019aucune autre option n\u2019est disponible.<br>Bornes de recharge de niveau 2<br>Les bornes de recharge de niveau 2 sont plus courantes dans les<br>propri\u00e9t\u00e9s r\u00e9sidentielles et commerciales. Elles fonctionnent sur<br>240 V similaire \u00e0 une cuisini\u00e8re \u00e9lectrique, et offrent une recharge plus<br>rapide, prenant g\u00e9n\u00e9ralement entre 4 et 10 heures pour recharger<br>compl\u00e8tement un VE. La commodit\u00e9 et l\u2019efficacit\u00e9 des bornes de<br>niveau 2 en font un ajout pr\u00e9cieux aux propri\u00e9t\u00e9s, augmentant<br>significativement leur attrait et leur valeur marchande.<br>Bornes de recharge de niveau 3<br>Les bornes de recharge de niveau 3, \u00e9galement connues sous le nom<br>de bornes rapides DC, sont des bornes de recharge publiques \u00e0 haute<br>puissance fonctionnant \u00e0 480 V. Ces chargeurs peuvent remettre<br>un VE sur la route en 25 \u00e0 30 minutes. Cependant, ils n\u00e9cessitent un<br>\u00e9quipement et une infrastructure sp\u00e9cialis\u00e9s, ce qui les rend plus<br>courants dans les zones \u00e0 fort trafic comme les centres commerciaux<br>et les autoroutes. Leur installation est g\u00e9n\u00e9ralement observ\u00e9e dans les<br>zones commerciales, o\u00f9 elles peuvent augmenter consid\u00e9rablement<br>la valeur des propri\u00e9t\u00e9s en attirant des clients et des locataires qui ont<br>besoin de solutions de recharge rapide.<br>QU\u2019EN EST-IL DE L\u2019INSTALLATION ET DES CO\u00dbTS?<br>Passons maintenant \u00e0 la grande question : combien les propri\u00e9taires<br>immobiliers paient-ils pour les bornes de recharge? Les co\u00fbts<br>d\u2019installation peuvent varier consid\u00e9rablement en fonction du type<br>de propri\u00e9t\u00e9 et de la borne de recharge sp\u00e9cifique. Comprendre<br>ces facteurs est essentiel pour permettre aux propri\u00e9taires et aux<br>\u00e9valuateurs de prendre des d\u00e9cisions \u00e9clair\u00e9es.<br>Installation r\u00e9sidentielle<br>Pour une installation r\u00e9sidentielle standard en 2024, l\u2019intervention<br>implique g\u00e9n\u00e9ralement un disjoncteur de 60 amp\u00e8res, un c\u00e2ble de<br>calibre #6, un connecteur ext\u00e9rieur, et la borne de recharge elle-m\u00eame.<br>En tenant compte des co\u00fbts de main-d\u2019oeuvre, l\u2019investissement total<br>pour une installation r\u00e9sidentielle typique varie entre 3 000 $ et 5 000 $.<br>Cela couvre tous les mat\u00e9riaux et services essentiels, garatissant une<br>solution de recharge fiable et efficace.<br>Pour les propri\u00e9taires de nouvelles constructions au Qu\u00e9bec, il y a<br>un avantage clair: le code du b\u00e2timent r\u00e9vis\u00e9 en 2018 exige que le<br>c\u00e2blage pour bornes de recharge soit install\u00e9 d\u00e8s le d\u00e9part. Cette<br>pr\u00e9voyance r\u00e9duit le co\u00fbt d\u2019installation d\u2019une borne \u00e0 un montant<br>abordable de 1 500 $ \u00e0 2 000 $.<br>Installation dans les condominiums<br>Lors de l\u2019installation de bornes de recharge pour VE dans des<br>condominiums et des immeubles multi-r\u00e9sidentiels, les co\u00fbts peuvent<br>varier en fonction de plusieurs facteurs. Si l\u2019installation est pr\u00e9vue d\u00e8s<br>la phase de construction, cela permet une configuration plus optimale<br>et rentable. Cependant, la modernisation d\u2019un b\u00e2timent existant<br>entra\u00eene souvent des d\u00e9penses plus \u00e9lev\u00e9es en raison des complexit\u00e9s<br>suppl\u00e9mentaires impliqu\u00e9es. Le nombre de bornes n\u00e9cessaires et<br>le type d\u2019installation \u2013 qu\u2019il s\u2019agisse de bornes sur socle, murales,<br>int\u00e9rieures ou ext\u00e9rieures \u2013 influencera \u00e9galement le co\u00fbt global.<br>Dans ces environnements multi-r\u00e9sidentiels, les installations sont<br>particuli\u00e8rement complexes et n\u00e9cessitent souvent des composants<br>suppl\u00e9mentaires comme un contr\u00f4leur de charge de demande<br>(DCC) pour g\u00e9rer l\u00e9galement et en toute s\u00e9curit\u00e9 la distribution de<br>l\u2019\u00e9nergie. Les mesures de s\u00e9curit\u00e9 pour pr\u00e9venir l\u2019utilisation non<br>autoris\u00e9e sont \u00e9galement cruciales. En raison de ces complexit\u00e9s, le<br>co\u00fbt d\u2019installation dans les condominiums et les immeubles multir\u00e9sidentiels<br>commence g\u00e9n\u00e9ralement \u00e0 5 000 $ pour une borne.<br>Installation commerciale<br>Les installations commerciales pr\u00e9sentent leurs propres d\u00e9fis uniques,<br>n\u00e9cessitant une planification minutieuse et souvent des am\u00e9liorations<br>significatives de l\u2019infrastructure. Les co\u00fbts peuvent varier en fonction de<br>l\u2019ampleur du projet, du besoin d\u2019\u00e9tudes d\u2019ing\u00e9nierie sp\u00e9cialis\u00e9es et de la<br>disponibilit\u00e9 de subventions et d\u2019incitatifs.<br>Le choix de l\u2019\u00e9quipement appropri\u00e9, la d\u00e9termination du nombre<br>optimal d\u2019unit\u00e9s et le choix du meilleur type d\u2019installation sont des<br>d\u00e9cisions strat\u00e9giques qui d\u00e9pendent du retour sur investissement<br>projet\u00e9. Pour garantir une solution adapt\u00e9e qui respecte \u00e0 la fois le<br>budget et les objectifs commerciaux, il est essentiel de collaborer<br>\u00e9troitement avec un expert.<br>IMPACT SUR LA VALEUR DES PROPRI\u00c9T\u00c9S<br>L\u2019int\u00e9gration des bornes de recharge pour VE devient un facteur<br>cl\u00e9 dans les \u00e9valuations immobili\u00e8res, car elles peuvent am\u00e9liorer<br>consid\u00e9rablement la valeur et l\u2019attractivit\u00e9 des propri\u00e9t\u00e9s<br>r\u00e9sidentielles et commerciales. Pour les \u00e9valuateurs, comprendre cet<br>impact est crucial pour \u00e9valuer avec pr\u00e9cision la valeur d\u2019une propri\u00e9t\u00e9<br>dans le march\u00e9 en \u00e9volution d\u2019aujourd\u2019hui.<br>Propri\u00e9t\u00e9s r\u00e9sidentielles<br>Dans les environnements r\u00e9sidentiels, la pr\u00e9sence de bornes de<br>recharge pour VE est plus qu\u2019une simple commodit\u00e9 moderne \u2013 c\u2019est<br>un argument de vente. Imaginez avoir le luxe de recharger votre<br>voiture \u00e0 domicile, une source d\u2019\u00e9nergie s\u00fbre, \u00e9conomique et sans<br>stress pour vos trajets quotidiens.<br>Les maisons \u00e9quip\u00e9es de ces bornes sont de plus en plus<br>attrayantes pour le nombre croissant de propri\u00e9taires de VE, ce qui<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 21<br>entra\u00eene des ventes plus rapides et souvent \u00e0 des prix plus \u00e9lev\u00e9s.<br>Alors que l\u2019adoption des VE continue de cro\u00eetre, les propri\u00e9t\u00e9s<br>avec une infrastructure de recharge int\u00e9gr\u00e9e sont positionn\u00e9es<br>pour se d\u00e9marquer sur le march\u00e9, en faisant un ajout pr\u00e9cieux dans<br>les \u00e9valuations.<br>Propri\u00e9t\u00e9s commerciales<br>Dans une propri\u00e9t\u00e9 commerciale, les bornes de recharge pour VE<br>sont un aimant pour les entreprises et les locataires soucieux de<br>l\u2019environnement. Les propri\u00e9t\u00e9s qui offrent cette commodit\u00e9 non<br>seulement commandent des loyers plus \u00e9lev\u00e9s, mais b\u00e9n\u00e9ficient<br>\u00e9galement de taux d\u2019occupation am\u00e9lior\u00e9s.<br>\u00c0 une \u00e9poque o\u00f9 l\u2019environnement est une priorit\u00e9 pour de<br>nombreuses entreprises, la disponibilit\u00e9 de l\u2019infrastructure de<br>recharge pour VE devient un facteur critique dans la d\u00e9sirabilit\u00e9 des<br>propri\u00e9t\u00e9s. Pour les \u00e9valuateurs, cela signifie reconna\u00eetre le potentiel<br>d\u2019augmentation des revenus et de la valeur globale des propri\u00e9t\u00e9s<br>lorsque la recharge pour VE fait partie de l\u2019\u00e9quation. Pour \u00e9valuer la<br>valeur d\u2019une installation commerciale, je recommanderais de demander<br>au propri\u00e9taire de la propri\u00e9t\u00e9 une copie de la facture des travaux<br>r\u00e9alis\u00e9s et pay\u00e9s pour vous donner une id\u00e9e des frais d\u00e9bours\u00e9s.<br>Facteurs influant sur l\u2019augmentation de la valeur<br>Maintenant que vous connaissez l\u2019impact que les bornes de recharge<br>pour VE peuvent avoir, le d\u00e9fi consiste \u00e0 d\u00e9terminer leur contribution<br>\u00e0 la valeur d\u2019une propri\u00e9t\u00e9. Ces facteurs vous aideront \u00e0 \u00e9valuer leur<br>influence avec pr\u00e9cision :<\/li>\n\n\n\n<li>Emplacement : Les propri\u00e9t\u00e9s urbaines connaissent souvent une<br>augmentation de valeur plus importante que les zones rurales,<br>en raison de taux d\u2019adoption des VE plus \u00e9lev\u00e9s et de la demande<br>pour une infrastructure de recharge.<\/li>\n\n\n\n<li>Qualit\u00e9 et type d\u2019installation : Les installations de haute<br>qualit\u00e9, bien ex\u00e9cut\u00e9es \u2013 qu\u2019il s\u2019agisse de bornes de niveau 2<br>ou rapides \u2013 ont tendance \u00e0 offrir une plus grande valeur.<br>Il ne s\u2019agit pas seulement de la borne elle-m\u00eame, mais aussi<br>de son environnement. Le choix entre les configurations sur<br>socle ou murales, et qu\u2019elles soient int\u00e9rieures ou ext\u00e9rieures,<br>peut influencer l\u2019\u00e9valuation. Dans les environnements<br>commerciaux, des facteurs tels que l\u2019\u00e9clairage, l\u2019apparence<br>g\u00e9n\u00e9rale des bornes et leur emplacement dans le<br>stationnement jouent \u00e9galement un r\u00f4le significatif dans<br>l\u2019influence sur la valeur.<\/li>\n\n\n\n<li>Demande du march\u00e9 : Alors que l\u2019adoption des VE s\u2019acc\u00e9l\u00e8re,<br>la demande pour des propri\u00e9t\u00e9s \u00e9quip\u00e9es de capacit\u00e9s de<br>recharge augmente \u00e9galement. Cette demande croissante<br>est directement corr\u00e9l\u00e9e \u00e0 l\u2019augmentation de la valeur des<br>propri\u00e9t\u00e9s, faisant de ces installations un investissement tourn\u00e9<br>vers l\u2019avenir. \u00c0 l\u2019avenir, nous pourrions m\u00eame consid\u00e9rer les<br>bornes de recharge comme un incontournable, tout comme la<br>pr\u00e9sence de laveuse-s\u00e9cheuse ou la climatisation.<br>PASSER \u00c0 L\u2019ACTION : VALORISER LES PROPRI\u00c9T\u00c9S<br>AVEC LES BORNES DE RECHARGE POUR VE<br>Comme nous l\u2019avons explor\u00e9, les bornes de recharge pour VE ont<br>un impact profond sur la valeur des propri\u00e9t\u00e9s, en faisant une<br>consid\u00e9ration strat\u00e9gique pour les \u00e9valuateurs immobiliers et les<br>propri\u00e9taires. Mais que faire si vous \u00eates pr\u00eat \u00e0 agir et \u00e0 tirer parti de<br>cette tendance pour valoriser vos propri\u00e9t\u00e9s?<br>Si vous envisagez de recommander des bornes de recharge<br>pour VE \u00e0 vos clients comme moyen d\u2019augmenter la valeur de leurs<br>propri\u00e9t\u00e9s, ou si vous cherchez \u00e0 optimiser la valeur de votre propre<br>bien, vous pourriez envisager un partenariat avec MaBorne ! Nous<br>sommes sp\u00e9cialis\u00e9s dans la conception de solutions de recharge<br>pour VE sur mesure qui augmentent non seulement la valeur<br>marchande, mais offrent \u00e9galement un retour sur investissement<br>solide pour ceux qui conservent leurs b\u00e2timents \u00e0 long terme.<br>Sources: https:\/\/www.statcan.gc.ca\/o1\/en\/plus\/5497-wattselectric-<br>vehicles-and-future-electricity-generation-needs<br>\u00c0 propos de l\u2019autrice<br>Avec plus de 25 ans d\u2019exp\u00e9rience dans le secteur de l\u2019immobilier en<br>tant qu\u2019analyste financier et \u00e9valuatrice, Natalia Kourant poss\u00e8de<br>une compr\u00e9hension approfondie de l\u2019\u00e9conomie du d\u00e9veloppement<br>urbain et de l\u2019\u00e9valuation immobili\u00e8re. Elle a \u00e9tudi\u00e9 \u00e0 l\u2019Universit\u00e9<br>de la Colombie-Britannique et a obtenu son MBA \u00e0 l\u2019Universit\u00e9<br>McGill. Il y a cinq ans, Natalia a cofond\u00e9 Actif, une entreprise<br>sp\u00e9cialis\u00e9e dans les syst\u00e8mes de chauffage et d\u2019eau chaude, o\u00f9 elle<br>a perfectionn\u00e9 son expertise dans la navigation des subventions.<br>Aujourd\u2019hui, elle transf\u00e8re cette comp\u00e9tence dans une nouvelle<br>aventure \u00e0 la direction de MaBorne.<br>Canadian Property Valuation | \u00c9valuation 22 immobili\u00e8re au Canada Return to CONTENTS<br>EARN CPD CREDITS AND<br>ADVANCE OUR APPRAISAL PROFESSION<br>Do you want to contribute<br>to the next issue of<br>Canadian Property Valuation?<br>OBTENEZ DES CR\u00c9DITS PPC ET<br>MODERNISONS NOTRE PROFESSION D\u2019\u00c9VALUATEUR<br>Voulez-vous contribuer au<br>prochain num\u00e9ro d\u2019\u00c9valuation<br>immobili\u00e8re au Canada?<br>Si vous aimeriez faire publier un article dans un prochain<br>num\u00e9ro de la revue \u00c9valuation immobili\u00e8re au Canada<br>et contribuer de fa\u00e7on significative \u00e0 l\u2019avancement de la<br>profession, veuillez contacter :<br>BRANDYN HAYES<br>Gestionnaire, Affaires publiques<br>Institut canadiens des \u00e9valuateurs<br>brandynh@aicanada.ca \u2022 1-613-234-6533 x230<br>*Remarque : Nous fournirons les d\u00e9tails suppl\u00e9mentaires et toute l\u2019aide<br>dont vous pourriez avoir besoin pour assurer un processus de contribution<br>harmonieux et efficace.<br>Nous sommes \u00e0 la recherche d\u2019articles qui traitent de sujets<br>pertinents, opportuns et informatifs, r\u00e9dig\u00e9s par des \u00e9valuateurs<br>d\u00e9sireux de partager leurs connaissances et leur expertise ou<br>partager leurs exp\u00e9riences uniques en contribuant un article dans<br>la revue \u00c9valuation immobili\u00e8re au Canada. C\u2019est une fa\u00e7on id\u00e9ale :<br>d\u2019am\u00e9liorer les connaissances de vos coll\u00e8gues<br>de moderniser la profession d\u2019\u00e9valuateur dans son ensemble<br>de profiter d\u2019une exposition et d\u2019\u00eatre reconnu par vos pairs<br>d&rsquo;obtenir des cr\u00e9dits de PPC<br>We are looking for topical, timely and informative<br>articles provided by appraisers who are willing<br>to share their knowledge and expertise or unique<br>experiences by contributing an article to Canadian<br>Property Valuation. It is an ideal way to:<br>enhance the knowledge of your colleagues<br>advance the appraisal profession as a whole<br>gain exposure and recognition with your peers<br>earn CPD credits<br>If you are interested in being published in a future<br>issue of Canadian Property Valuation and contributing<br>significantly to the advancement of the profession,<br>please contact:<br>BRANDYN HAYES<br>Manager, Public Affairs<br>Appraisal Institute of Canada<br>brandynh@aicanada.ca \u2022 1-613-234-6533 x230<br>*Note: We will provide additional details and any assistance you require<br>to ensure a smooth and efficient contribution process.<br>By Gordon MacNair, SR\/WA, P. App., AACI<br>EXPROPRIATION 101<br>EXPERIENCES AND RECOMMENDATIONS<br>Introduction<br>Expropriation, the government\u2019s power to take private property<br>for public use, is an essential tool for infrastructure development<br>in Canada. With some 40 years of experience in infrastructure<br>real estate, I have encountered various expropriation acts across<br>the country. This article provides an overview of these acts with<br>respect to compensation. It also shares my insights, discusses<br>trends in expropriation law, and suggests potential improvements<br>in Canadian expropriation legislation.<br>Overview of expropriation acts<br>on compensation matters in Canada:<br>Canadian Property Valuation | \u00c9valuation 24 immobili\u00e8re au Canada Return to CONTENTS<br>Legal and appraisal implications<br>Understanding the three tests for the Larger Parcel is crucial from<br>both legal and appraisal perspectives.<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Legal perspective: Legally, these tests help define the scope of<br>what constitutes the Larger Parcel, guiding decisions regarding<br>compensation for expropriation. They ensure that the entire property,<br>as understood within the legal framework, is considered when<br>determining compensation, thereby protecting the owner\u2019s rights.<\/li>\n\n\n\n<li>Appraisal perspective: From an appraisal standpoint, these tests<br>ensure a comprehensive valuation that considers all relevant<br>aspects of the property. By thoroughly evaluating the unity<br>of title, contiguity, and use, appraisers can provide a fair and<br>accurate assessment of the property\u2019s value, leading to equitable<br>compensation for the owner.<br>In conclusion, the concept of the Larger Parcel and its associated<br>tests play a critical role in expropriation appraisals, helping to<br>ensure that property owners receive fair and comprehensive<br>compensation for their expropriated lands.<br>Value of part taken<br>Part taken: The specific portion of the property required for public use<br>is the part taken. This term, sometimes referred to as \u2018the taking\u2019 or \u2018the<br>requirement,\u2019 is part of the Larger Parcel. Although some government<br>agencies avoid using \u2018the taking,\u2019 it is an accurate term since the<br>agency uses expropriation acts to acquire property rights, subject to<br>compensation. Some examples of where market value is defined include<br>MB s.27(1), NS s.27(2), BC s.32, AB s.41 and ON s.14(1). Typically, in<br>Canada, the owner is paid for the part taken. However, there could be an<br>exception to this under s.44 (1.1) of the BC Expropriation Act.<br>Injurious affection<br>Injurious affection: Injurious affection refers to the reduction in<br>value of remaining lands resulting from an expropriation or partial<br>taking and can be found in Acts such as MB s.30(1), NS s.30(1), ON<br>s.21, and AB s.56. This concept is critical in ensuring that property<br>owners are fairly compensated not just for the land taken but also for<br>the negative impact on the remaining property of either the taking or<br>the works for which the land was taken. Examples could include:<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Landlocking: When a parcel of land is left without access due to<br>the expropriation of adjoining land.<\/li>\n\n\n\n<li>Loss of parking: Reduction or elimination of parking spaces,<br>impacting the utility and value of the remaining property.<\/li>\n\n\n\n<li>Loss of access: Changes in access routes can make the<br>remaining land less accessible, reducing its usability and value.<\/li>\n\n\n\n<li>Change in shape: Alterations in the shape of the remaining<br>parcel can limit its development potential and overall functionality.<\/li>\n\n\n\n<li>Loss of exposure and visibility: Reduced visibility or exposure,<br>particularly for commercial properties, can significantly<br>diminish their value.<br>Key terms and concepts in expropriation<br>Total buyouts and partial takings<br>Expropriation can involve either a total buyout, where the entire<br>property is acquired, or a partial taking, where only a portion<br>of the property is acquired. Both scenarios present unique<br>challenges and require careful consideration of various factors<br>when dealing with infrastructure real estate projects.<br>Larger Parcel in expropriation<br>The concept of the Larger Parcel is integral to expropriation<br>appraisals, serving as the foundation for determining fair<br>compensation when a portion of a property is expropriated.<br>It encompasses the entire property owned by the individual prior<br>to any expropriation and requires thorough understanding of the<br>property from both legal and appraisal perspectives. The key<br>question to ask is this: Is the portion of the property expropriated<br>from one individual property or is it part of a larger assembled<br>property (the Larger Parcel)?<br>Three tests for the Larger Parcel:<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Unity of Title (Ownership):<br>\u25e6 This test evaluates whether the property is under single<br>ownership. It considers if the parcels in question are owned<br>by the same individual or entity. This is a crucial factor in<br>determining if they can be considered a single Larger Parcel.<\/li>\n\n\n\n<li>Unity of Contiguity (Adjoining or Separated):<br>\u25e6 This test examines if the property parcels are physically<br>connected or function as a single economic unit. Parcels<br>which are contiguous or which operate together as a<br>cohesive unit are more likely to be considered part of<br>a single parcel.<\/li>\n\n\n\n<li>Unity of Use (Under One Highest and Best Use):<br>\u25e6 This test assesses if the parcels are used together to achieve<br>the highest and best use. If the parcels serve a unified<br>purpose that maximizes their economic value, they are<br>considered under a single highest and best use, thereby<br>forming a single Larger Parcel.<br>These tests help define the Larger Parcel and inform<br>compensation decisions for expropriation, ensuring<br>comprehensive and fair valuations. While these tests are not<br>explicitly detailed in expropriation legislation, guidance can be<br>derived from comments in some expropriation acts in sections<br>related to injurious affection. For example, MB s.30(2), ON<br>s.21, and NS s.3 (h)(i) often provide context, such as: \u201cFor the<br>purposes of this clause, part of the lands of an owner shall be<br>deemed to have been acquired where the owner from whom<br>lands are acquired retains lands contiguous to those acquired or<br>retains lands of which the use is enhanced by unified ownership<br>with those acquired.\u201d (Emphasis added.)<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 25<br>Legal framework: In jurisdictions where Expropriation Acts are in<br>place, statutory authorities are typically required to compensate<br>landowners for losses or damages caused by injurious affection.<br>This ensures that property owners are not left at a disadvantage<br>due to the partial taking of their land.<br>Claims without taking: Interestingly, in some jurisdictions, a claim<br>for injurious affection can be made even when there has been<br>no actual taking of land. This highlights the broad scope of this<br>concept in protecting property owners\u2019 rights and ensuring fair<br>compensation for any negative impact on their property. Examples<br>include MB s.31(1), BC s.41(2), ON s.1(b), and NB s.(1)(b). It is worth<br>noting that AB does not allow for this under their legislation.<br>Understanding injurious affection is crucial for both legal and<br>appraisal professionals involved in expropriation cases. It ensures<br>comprehensive consideration of all factors affecting property value<br>and guarantees fair compensation for affected property owners.<br>Disturbance damages<br>Definition and purpose: Disturbance damages are intended to<br>compensate property owners and tenants for the inconvenience<br>and disruption caused by an expropriation. This type of<br>compensation covers a wide range of claims that may arise due to<br>the expropriation process. According to the Ontario Expropriations<br>Act, disturbance damages are defined as \u201csuch reasonable costs as<br>are the natural and reasonable consequences of the expropriation.\u201d<br>Key components: The broad definition of disturbance damages<br>typically includes some of the following items that are included<br>for owners.<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Allowance for inconvenience: Some jurisdictions provide an<br>allowance for inconvenience at 5% of market value when the<br>expropriation includes the owner\u2019s residence. This recognizes<br>the personal and emotional impact of expropriation on<br>property owners.<\/li>\n\n\n\n<li>Moving and relocation expenses: This covers the costs<br>associated with moving and relocating property owners,<br>including the cost of temporary accommodations. It ensures<br>that property owners are not financially burdened by the need<br>to find a new place to live or operate their business.<\/li>\n\n\n\n<li>Legal and survey costs: The costs of legal and survey<br>services required as part of the expropriation process are also<br>covered. This includes fees for legal representation, document<br>preparation, and property surveys.<br>Legislative framework: Different jurisdictions may have varying<br>definitions and provisions for disturbance damages. The common<br>goal is to ensure that property owners are fairly compensated for<br>all reasonable costs incurred because of the expropriation.<br>Understanding disturbance damages is essential for both<br>property owners and professionals involved in expropriation cases.<br>It ensures that all parties are aware of the comprehensive nature of<br>compensation available and helps in negotiating fair settlements<br>that address the full impact of expropriation on property owners.<br>Benefits: general and special in expropriation<br>In the context of expropriation, distinguishing between general<br>and special benefits is crucial for determining fair compensation.<br>These benefits reflect the impact of public infrastructure projects<br>and related improvements on property values.<br>General benefits refer to improvements that benefit the<br>community at large and can indirectly increase property values.<br>These benefits are typically associated with broader public<br>infrastructure projects or community enhancements that positively<br>impact the overall environment in which properties are located.<br>Examples include:<\/li>\n\n\n\n<li>Construction of new parks or green spaces: These<br>enhancements improve the quality of life for the entire<br>community, making the area more attractive and desirable.<\/li>\n\n\n\n<li>Improved public transportation systems: Enhanced<br>transportation options can lead to increased accessibility and<br>convenience, benefiting the broader population.<\/li>\n\n\n\n<li>Enhanced public utilities and services: Upgrades to utilities<br>such as water, electricity, and sewage systems can improve<br>living standards and attract new residents or businesses.<br>While these improvements may not directly affect an individual<br>property, they contribute to the overall attractiveness and desirability<br>of the area, leading to an indirect increase in property values.<br>Special benefits refer to direct benefits to the remaining<br>property that result from the expropriation or related infrastructure<br>improvements. These benefits have a more immediate and tangible<br>impact on the property\u2019s value. Examples include:<\/li>\n\n\n\n<li>Enhanced accessibility: New roadways or improved traffic<br>flow can make a property more accessible, increasing its<br>usability and attractiveness.<\/li>\n\n\n\n<li>Direct infrastructure improvements: Upgraded utilities<br>or drainage systems directly improve the functionality and<br>efficiency of a property.<\/li>\n\n\n\n<li>Increased exposure or visibility: Changes in surrounding land<br>use or infrastructure that enhance the property\u2019s visibility can<br>attract more customers or tenants, boosting its value.<br>Special benefits positively impact the property\u2019s value by<br>improving its functionality, accessibility, or overall appeal.<br>This is often referred to as Set-Off and can be found in various<br>Acts such as MB s.32, ON s.23, NB s.48, and NS s.32, but typically<br>the Set-Off is applied only against injurious affection; however,<br>some jurisdictions, such as BC, permit a Set-Off against<br>\u201cthe amount of compensation payable\u201d and do not limit the<br>EXPROPRIATION 101<br>Canadian Property Valuation | \u00c9valuation 26 immobili\u00e8re au Canada Return to CONTENTS<br>Set-Off to injurious affection. This indeed diverges from the more<br>common approach of limiting Set-Off to only injurious affection.<br>Legal considerations<br>In the context of expropriation, it\u2019s essential to distinguish between<br>general and special benefits to determine fair compensation.<\/li>\n\n\n\n<li>General benefits: Typically considered to benefit the wider<br>community, these are not usually factored into individual<br>compensation claims as their impact is diffuse and<br>widespread. There is an exception to this under s.44 (1) of the<br>BC Expropriation Act.<\/li>\n\n\n\n<li>Special benefits: Directly linked to the remaining property,<br>these must be taken into account when assessing compensation<br>for expropriation. Property owners are entitled to compensation<br>that reflects any adverse effects on their property while<br>considering the positive impacts of special benefits.<br>Understanding these concepts ensures that property owners receive<br>appropriate compensation for any adverse effects on their property<br>while also considering any positive impacts resulting from the<br>expropriation and related improvements. By accurately distinguishing<br>between general and special benefits, appraisers and legal<br>professionals can ensure a fair and equitable compensation process<br>for affected property owners.<br>Relocation: a comparative perspective<br>Relocation is a critical aspect of expropriation. In Canada, the<br>process for a total buyout can vary significantly from what is<br>done in the United States under the federal Uniform Relocation<br>Assistance and Real Property Acquisition Policies of 1970 Act (URA).<br>Understanding these differences is essential for ensuring fair<br>treatment and adequate support for displaced property owners.<br>In the event of a total buyout, both countries provide financial<br>assistance such as payment of market value along with relocation<br>costs. However, the URA, also provides for \u2018Advisory Services\u2019<br>where the displaced owners are assisted with housing alternatives<br>with respect to the relocation. This type of service is not provided<br>for under Canadian expropriation legislation.<br>A report was completed by the Ontario Law Reform Commission<br>on the basis for compensation on expropriation in 1967. On page<br>11 of this report, it states: \u201cEvery attempt, moreover, should be<br>made to cause a minimum of disturbance in the life of the citizen.<br>Compensation should be such as to allow him to return his life to<br>an even keel. Not only should he be provided with the monetary<br>worth of his loss, but the government should endeavour to<br>provide for a smooth transition, by way of relocation assistance<br>both financial or otherwise.\u201d (Emphasis added.)<br>Some government agencies assist owners with their respective<br>relocations, but it is not mandatory, and, as such, many agencies<br>do not provide this service, which is regrettable. When someone<br>must relocate from their home, it can be a very stressful<br>experience for them, which needs to be recognized throughout<br>the expropriation process.<br>Relocation assistance can significantly alleviate the stress and<br>disruption caused by expropriation. The lack of mandatory advisory<br>services in Canada contrasts with the more comprehensive<br>approach taken under the URA in the United States. This difference<br>highlights a key area where Canadian expropriation legislation<br>could be improved to ensure a smoother and more supportive<br>transition for displaced property owners.<br>In conclusion, incorporating mandatory relocation assistance,<br>including advisory services, into Canadian expropriation legislation<br>could help mitigate the negative impacts of displacement and support<br>property owners in finding suitable new homes. This approach<br>would align with the principles outlined by the Ontario Law Reform<br>Commission and contribute to a more humane and equitable<br>expropriation process.<br>Market Value vs. Value to the Owner<br>Market Value: Market Value refers to the price for which a property<br>would sell in the open market. This objective measure is the<br>standard for compensation in many expropriation cases across<br>Canada. It reflects the amount a willing buyer would pay to a willing<br>seller in a competitive and open market, considering all legal and<br>regulatory factors. This concept is widely adopted by the federal<br>government, most provinces, and all territories. Market Value is<br>determined by:<\/li>\n\n\n\n<li>comparable sales data;<\/li>\n\n\n\n<li>market conditions at the time of valuation; and<\/li>\n\n\n\n<li>the property\u2019s physical characteristics and legal attributes.<br>Value to the Owner: Value to the Owner recognizes the subjective<br>value that a property holds for its owner, which may exceed its<br>market value due to personal or business reasons. This concept<br>emphasizes compensation that accounts for the unique attachment<br>and investment an owner has in their property. The Value to the<br>Owner concept is considered in jurisdictions such as Saskatchewan,<br>Prince Edward Island, and Quebec.<br>However, provinces such as PEI are currently reviewing their<br>expropriation compensation legislation for Value to the Owner.<br>For instance, Justice Matheson remarked in the Supreme Court<br>case Haras Management et al. v. Gov. of P.E.I., 2017 PESC 14 that the<br>province should consider revising the Expropriation Act to align with<br>federal and provincial legislation in other jurisdictions regarding<br>appropriate compensation upon expropriation.<br>Summary<br>Understanding the distinction between Market Value and Value<br>to the Owner is crucial in expropriation cases. While Market Value<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 27<br>provides an objective benchmark widely used across Canada, Value to<br>the Owner offers a more personalized approach to compensation,<br>recognizing the unique significance of a property to its owner.<br>Experiences and areas for improvement<br>Experiences with expropriation acts<br>Throughout my career, I have worked with various expropriation<br>acts across Canada. These experiences have highlighted both the<br>strengths and weaknesses of the current legislative framework.<br>The ideal is to leave the owner \u2018whole.\u2019 This is not always possible, but,<br>as the Supreme Court of Canada stated in Irving Oil Ltd. v. R., [1946]<br>S.C.R. 551, \u201cthe displaced owner should be left as nearly as possible<br>in the same position financially as he was prior to the taking, provided<br>that the damage, loss or expense for which the compensation was<br>claimed was directly attributable to the taking of the lands.\u201d<br>Recommendations for improvement<br>By implementing the following recommendations, expropriation<br>law and practice can be improved to ensure fairness, transparency,<br>and support for affected property owners, leading to more effective<br>and equitable outcomes.<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Standardization of relocation practices:<br>\u25e6 Develop national guidelines: Collaborate with federal and<br>provincial authorities to develop standardized guidelines for<br>relocation practices, drawing on the U.S. URA as a model.<br>\u25e6 Training and resources: Provide training for real estate<br>professionals and support staff to ensure they understand the<br>above-mentioned guidelines and can implement them effectively.<br>\u25e6 Support services: Establish comprehensive support services,<br>including counseling, financial assistance, and relocation<br>logistics to help displaced individuals and families.<\/li>\n\n\n\n<li>Incorporation of the Market Value Standard:<br>\u25e6 Legislative amendments: Advocate for amendments to<br>expropriation laws to explicitly include Market Value as a<br>standard for compensation.<br>\u25e6 Appraisal standards: Develop and enforce standardized<br>appraisal methodologies to ensure consistent and accurate<br>Market Value assessments.<br>\u25e6 Communication: Clearly communicate the Market Value<br>standard to property owners and stakeholders to ensure<br>transparency and understanding.<\/li>\n\n\n\n<li>Transparent and inclusive processes:<br>\u25e6 Stakeholder engagement: Create forums and platforms<br>for regular engagement with property owners and affected<br>communities to gather input and address concerns.<br>\u25e6 Hearing of Necessity: Reintroduce the Hearing of Necessity in<br>the Greater Toronto Area for those certain listed transit projects<br>that were excluded to provide affected owners with a formal<br>platform to voice their concerns before transit projects proceed.<br>\u25e6 Compensation practices: Standardize compensation practices<br>across Canada to ensure affected owners are always paid for the<br>value of the part taken, fostering consistency and fairness.<br>Conclusion<br>In dealing with affected property owners and tenants, it is crucial to<br>consider the Supreme Court of Canada decision in Dell Holdings Ltd. v.<br>Toronto Area Transit Operating Authority, [1997] 1 S.C.R 32:<br>\u201cThe expropriation of property is one of the ultimate exercises<br>of governmental authority. To take all or part of a person\u2019s<br>property constitutes a severe loss and a very significant<br>interference with a citizen\u2019s private property rights. It follows<br>that the power of an expropriating authority should be strictly<br>construed in favor of those whose rights have been affected.\u201d<br>By adhering to this principle, we can ensure that the power of<br>expropriation is exercised with the utmost care and consideration,<br>upholding the rights and dignity of affected property owners.<br>This approach will lead to more equitable, compassionate, and<br>effective property acquisition processes for public use.<br>EXPROPRIATION 101<br>The approach of Verity Claims Management<br>to every claim will be to provide \u201cFundamental<br>True Value.\u201d Our claims handling services are<br>grounded in the following principles:<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Client-focused service<\/li>\n\n\n\n<li>Collaboration with other service providers<\/li>\n\n\n\n<li>Careful and thorough analysis and investigation<\/li>\n\n\n\n<li>Prompt and clear reporting to clients<br>1860 Appleby Line-Suite 420, Burlington, ON L7L 7H7<br>KatjaK@verityclaims.ca | 647-884-5065<br>9776478 Canada Inc.<br>A properly handled claim can make<br>a large difference in the outcome of the claim<br>28 Canadian Property Valuation | \u00c9valuation immobili\u00e8re au Canada Return to CONTENTS<br>EXPROPRIATION 101<br>Vue d\u2019ensemble des lois sur l\u2019expropriation<br>en mati\u00e8re d\u2019indemnisation au Canada :<br>EXP\u00c9RIENCES ET RECOMMANDATIONS<br>PAR Gordon MacNair, SR\/WA, \u00c9. PRO., AACI<br>Introduction<br>L\u2019expropriation, c\u2019est-\u00e0-dire le pouvoir du gouvernement de prendre<br>une propri\u00e9t\u00e9 priv\u00e9e pour l\u2019utiliser \u00e0 des fins publiques, est un outil<br>essentiel pour le d\u00e9veloppement des infrastructures au Canada. Fort<br>d\u2019une quarantaine d\u2019ann\u00e9es d\u2019exp\u00e9rience dans le domaine de l\u2019immobilier<br>d\u2019infrastructure, j\u2019ai \u00e9t\u00e9 confront\u00e9 \u00e0 diverses lois sur l\u2019expropriation dans<br>l\u2019ensemble du pays. Cet article cherche \u00e0 donner un aper\u00e7u de ces lois<br>en ce qui concerne l\u2019indemnisation, \u00e0 partager mes id\u00e9es, \u00e0 discuter<br>des tendances en mati\u00e8re de droit de l\u2019expropriation et \u00e0 sugg\u00e9rer des<br>am\u00e9liorations possibles de la l\u00e9gislation canadienne sur l\u2019expropriation.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 29<br>EXPROPRIATION 101<br>Termes et concepts cl\u00e9s dans le domaine de l\u2019expropriation<br>Rachats totaux et prises de possession partielles<br>L\u2019expropriation peut prendre la forme d\u2019un rachat total, c\u2019est-\u00e0-dire<br>l\u2019acquisition de l\u2019ensemble de la propri\u00e9t\u00e9, ou d\u2019une prise de<br>possession partielle, c\u2019est-\u00e0-dire de l\u2019acquisition d\u2019une partie<br>seulement de la propri\u00e9t\u00e9. Ces deux sc\u00e9narios pr\u00e9sentent des d\u00e9fis<br>uniques et n\u00e9cessitent un examen minutieux de divers facteurs<br>lorsqu\u2019il s\u2019agit de projets immobiliers d\u2019infrastructure.<br>La plus grande parcelle dans le cadre de l\u2019expropriation<br>Le concept de la plus grande parcelle fait partie int\u00e9grante des<br>\u00e9valuations d\u2019expropriation, car il sert de base \u00e0 la d\u00e9termination<br>d\u2019une juste indemnisation lorsqu\u2019une partie d\u2019une propri\u00e9t\u00e9<br>est expropri\u00e9e. Ce concept englobe l\u2019ensemble de la propri\u00e9t\u00e9<br>d\u00e9tenue par l\u2019individu avant toute expropriation et n\u00e9cessite une<br>connaissance approfondie de la propri\u00e9t\u00e9, tant du point de vue<br>juridique que du point de vue de l\u2019\u00e9valuation. La question cl\u00e9 \u00e0 poser<br>est la suivante : La partie de la propri\u00e9t\u00e9 expropri\u00e9e provient-elle<br>d\u2019une propri\u00e9t\u00e9 individuelle ou fait-elle partie d\u2019une plus grande<br>propri\u00e9t\u00e9 assembl\u00e9e (la plus grande parcelle)?<br>Trois crit\u00e8res pour d\u00e9terminer s\u2019il s\u2019agit d\u2019une plus grande parcelle :<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Unit\u00e9 de titre (propri\u00e9t\u00e9) :<br>\u25e6 Ce test permet d\u2019\u00e9valuer si le bien est d\u00e9tenu par un seul<br>propri\u00e9taire. Il s\u2019agit de savoir si les parcelles en question<br>appartiennent \u00e0 la m\u00eame personne ou entit\u00e9. Il s\u2019agit d\u2019un<br>facteur essentiel pour d\u00e9terminer si elles peuvent \u00eatre<br>consid\u00e9r\u00e9es comme une seule grande parcelle.<\/li>\n\n\n\n<li>Unit\u00e9 de contigu\u00eft\u00e9 (contigu\u00ebs ou s\u00e9par\u00e9es) :<br>\u25e6 Ce test permet de d\u00e9terminer si les parcelles sont<br>physiquement reli\u00e9es ou si elles fonctionnent comme une<br>seule unit\u00e9 \u00e9conomique. Les parcelles qui sont contigu\u00ebs ou<br>qui fonctionnent ensemble comme une unit\u00e9 coh\u00e9sive ont<br>plus de chances d\u2019\u00eatre consid\u00e9r\u00e9es comme faisant partie<br>d\u2019une seule parcelle.<\/li>\n\n\n\n<li>Unit\u00e9 d\u2019utilisation (sous une seule utilisation optimale) :<br>\u25e6 Ce test permet d\u2019\u00e9valuer si les parcelles sont utilis\u00e9es<br>ensemble pour atteindre l\u2019utilisation optimale. Si les<br>parcelles servent un objectif unifi\u00e9 qui maximise leur valeur<br>\u00e9conomique, elles sont consid\u00e9r\u00e9es comme faisant l\u2019objet<br>d\u2019une seule et m\u00eame utilisation optimale, formant ainsi une<br>seule et m\u00eame grande parcelle.<br>Ces crit\u00e8res permettent de d\u00e9finir la grande parcelle et d\u2019\u00e9clairer les<br>d\u00e9cisions d\u2019indemnisation en cas d\u2019expropriation, en garantissant<br>des \u00e9valuations compl\u00e8tes et \u00e9quitables. Bien que ces crit\u00e8res ne<br>soient pas explicitement d\u00e9taill\u00e9s dans la l\u00e9gislation en mati\u00e8re<br>d\u2019expropriation, des indications peuvent \u00eatre tir\u00e9es des commentaires<br>de certaines lois sur l\u2019expropriation dans les sections relatives \u00e0<br>l\u2019affection pr\u00e9judiciable. Par exemple, l\u2019article 30(2) du Manitoba,<br>l\u2019article 21 de l\u2019Ontario et l\u2019article 3 (h)(i) de la Nouvelle-\u00c9cosse<br>fournissent souvent un contexte, par exemple : \u00ab Aux fins de la<br>pr\u00e9sente clause, une partie des terres d\u2019un propri\u00e9taire est r\u00e9put\u00e9e<br>avoir \u00e9t\u00e9 acquise lorsque le propri\u00e9taire dont les terres sont acquises<br>conserve des terres contigu\u00ebs \u00e0 celles qui ont \u00e9t\u00e9 acquises ou conserve<br>des terres dont l\u2019utilisation est am\u00e9lior\u00e9e par une propri\u00e9t\u00e9 unifi\u00e9e<br>avec celles qui ont \u00e9t\u00e9 acquises. (Soulignement ajout\u00e9)<br>Implications juridiques et d\u2019\u00e9valuation<br>Il est essentiel de comprendre les trois tests relatifs \u00e0 la parcelle la plus<br>grande, tant du point de vue juridique que du point de vue de l\u2019\u00e9valuation.<\/li>\n\n\n\n<li>Du point de vue juridique : D\u2019un point de vue juridique, ces tests<br>permettent de d\u00e9finir l\u2019\u00e9tendue de ce qui constitue la grande<br>parcelle, ce qui oriente les d\u00e9cisions relatives \u00e0 l\u2019indemnisation<br>en cas d\u2019expropriation. Ils garantissent que l\u2019ensemble de la<br>propri\u00e9t\u00e9, telle qu\u2019elle est comprise dans le cadre juridique,<br>est prise en compte lors de la d\u00e9termination de l\u2019indemnit\u00e9,<br>prot\u00e9geant ainsi les droits du propri\u00e9taire.<\/li>\n\n\n\n<li>Du point de vue de l\u2019\u00e9valuation : Du point de vue de l\u2019\u00e9valuation,<br>ces tests garantissent une \u00e9valuation compl\u00e8te qui prend en compte<br>tous les aspects pertinents du bien. En \u00e9valuant minutieusement<br>l\u2019unit\u00e9 du titre, la contigu\u00eft\u00e9 et l\u2019utilisation, les \u00e9valuateurs peuvent<br>fournir une estimation juste et pr\u00e9cise de la valeur du bien,<br>conduisant \u00e0 une compensation \u00e9quitable pour le propri\u00e9taire.<br>En conclusion, le concept de la plus grande parcelle et les tests qui y sont<br>associ\u00e9s jouent un r\u00f4le essentiel dans les \u00e9valuations d\u2019expropriation, en<br>contribuant \u00e0 garantir que les propri\u00e9taires re\u00e7oivent une indemnisation<br>juste et compl\u00e8te pour leurs terres expropri\u00e9es.<br>Valeur de la partie pr\u00e9lev\u00e9e<br>Partie pr\u00e9lev\u00e9e : La partie sp\u00e9cifique de la propri\u00e9t\u00e9 requise<br>pour l\u2019usage public est la partie pr\u00e9lev\u00e9e. Ce terme, parfois appel\u00e9<br>\u00ab la prise \u00bb ou \u00ab l\u2019exigence \u00bb, fait partie de la parcelle plus grande.<br>Bien que certains organismes publics \u00e9vitent d\u2019utiliser le terme \u00ab prise \u00bb,<br>il s\u2019agit d\u2019un terme exact puisque l\u2019organisme a recours \u00e0 des actes<br>d\u2019expropriation pour acqu\u00e9rir des droits de propri\u00e9t\u00e9, sous r\u00e9serve<br>d\u2019une indemnisation. Parmi les exemples de d\u00e9finition de la valeur<br>marchande, on peut citer l\u2019article 27(1) du Manitoba, l\u2019article 27(2) de<br>la Nouvelle-\u00c9cosse, l\u2019article 32 de la Colombie-Britannique, l\u2019article 41<br>de l\u2019Alberta et l\u2019article 14(1) de l\u2019Ontario. En r\u00e8gle g\u00e9n\u00e9rale, au Canada,<br>le propri\u00e9taire est pay\u00e9 pour la partie prise. Toutefois, il pourrait y avoir<br>une exception \u00e0 cette r\u00e8gle en vertu de l\u2019article 44 (1.1) de la loi sur<br>l\u2019expropriation de la Colombie-Britannique (BC Expropriation Act).<br>Affection pr\u00e9judiciable<br>Affection pr\u00e9judiciable : L\u2019affection pr\u00e9judiciable fait r\u00e9f\u00e9rence \u00e0 la<br>r\u00e9duction de la valeur des terres restantes r\u00e9sultant d\u2019une expropriation<br>ou d\u2019une prise de possession partielle. On la trouve dans des lois<br>telles que MB s.30(1), NS s.30(1), ON s.21, et AB s.56. Ce concept<br>est essentiel pour garantir que les propri\u00e9taires seront indemnis\u00e9s<br>\u00e9quitablement, non seulement pour le terrain pris, mais aussi pour<br>l\u2019impact n\u00e9gatif sur le reste de la propri\u00e9t\u00e9 de la prise ou des travaux<br>pour lesquels le terrain a \u00e9t\u00e9 pris. Voici quelques exemples :<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Enclavement : Lorsqu\u2019une parcelle de terrain est laiss\u00e9e sans acc\u00e8s<br>en raison de l\u2019expropriation des terrains adjacents.<br>30 Canadian Property Valuation | \u00c9valuation immobili\u00e8re au Canada Return to CONTENTS<\/li>\n\n\n\n<li>Perte de stationnement : R\u00e9duction ou \u00e9limination des places<br>de stationnement, ce qui a un impact sur l\u203autilit\u00e9 et la valeur de la<br>propri\u00e9t\u00e9 restante.<\/li>\n\n\n\n<li>Perte d\u2019acc\u00e8s : La modification des voies d\u2019acc\u00e8s peut rendre le<br>terrain restant moins accessible, ce qui r\u00e9duit son utilit\u00e9 et sa valeur.<\/li>\n\n\n\n<li>Changement de forme : Les modifications de la forme de la<br>parcelle restante peuvent limiter son potentiel de d\u00e9veloppement<br>et sa fonctionnalit\u00e9 globale.<\/li>\n\n\n\n<li>Perte d\u2019exposition et de visibilit\u00e9 : La r\u00e9duction de la visibilit\u00e9 ou<br>de l\u2019exposition, en particulier pour les propri\u00e9t\u00e9s commerciales,<br>peut diminuer consid\u00e9rablement leur valeur.<br>Cadre juridique : Dans les juridictions o\u00f9 des lois sur l\u2019expropriation<br>sont en vigueur, les autorit\u00e9s statutaires sont g\u00e9n\u00e9ralement tenues<br>d\u2019indemniser les propri\u00e9taires fonciers pour les pertes ou les<br>dommages caus\u00e9s par une affection pr\u00e9judiciable. Cela permet de<br>s\u2019assurer que les propri\u00e9taires ne sont pas d\u00e9savantag\u00e9s par la prise<br>partielle de leurs terres.<br>R\u00e9clamations sans prise de possession : Il est int\u00e9ressant de noter que<br>dans certaines juridictions, une demande d\u2019indemnisation pour affection<br>pr\u00e9judiciable peut \u00eatre faite m\u00eame s\u2019il n\u2019y a pas eu de prise de terre. Cela<br>met en \u00e9vidence la vaste port\u00e9e de ce concept pour prot\u00e9ger les droits<br>des propri\u00e9taires et garantir une indemnisation \u00e9quitable pour tout<br>impact n\u00e9gatif sur leur propri\u00e9t\u00e9. Les exemples incluent l\u2019article 31(1)<br>du Manitoba, l\u2019article 41(2) de la Colombie-Britannique, l\u2019article 1(b) de<br>l\u2019Ontario et l\u2019article 1(b) du Nouveau-Brunswick. Il convient de noter que<br>la l\u00e9gislation de l\u2019Alberta ne pr\u00e9voit pas cette possibilit\u00e9.<br>La compr\u00e9hension de l\u2019affection pr\u00e9judiciable est cruciale pour les<br>professionnels du droit et de l\u2019\u00e9valuation impliqu\u00e9s dans les affaires<br>d\u2019expropriation. Elle permet de prendre en compte l\u2019ensemble des<br>facteurs affectant la valeur d\u2019un bien et de garantir une indemnisation<br>\u00e9quitable aux propri\u00e9taires concern\u00e9s.<br>Dommages-int\u00e9r\u00eats pour perturbations<br>D\u00e9finition et objectif : les dommages-int\u00e9r\u00eats pour troubles<br>visent \u00e0 indemniser les propri\u00e9taires et les locataires pour les<br>d\u00e9sagr\u00e9ments et les perturbations caus\u00e9s par une expropriation.<br>Ce type d\u2019indemnisation couvre un large \u00e9ventail de r\u00e9clamations<br>pouvant d\u00e9couler de la proc\u00e9dure d\u2019expropriation. Selon la Loi<br>sur les expropriations de l\u2019Ontario, les dommages-int\u00e9r\u00eats pour<br>troubles sont d\u00e9finis comme \u00ab les co\u00fbts raisonnables qui sont les<br>cons\u00e9quences naturelles et raisonnables de l\u2019expropriation \u00bb.<br>Composantes cl\u00e9s : La d\u00e9finition au sens large des dommagesint\u00e9r\u00eats<br>pour troubles comprend g\u00e9n\u00e9ralement certains des \u00e9l\u00e9ments<br>suivants qui sont inclus pour les propri\u00e9taires.<\/li>\n\n\n\n<li>Indemnit\u00e9 pour inconv\u00e9nients : Certaines juridictions pr\u00e9voient<br>une indemnit\u00e9 pour inconv\u00e9nients de 5 % de la valeur marchande<br>lorsque l\u2019expropriation concerne la r\u00e9sidence du propri\u00e9taire.<br>Cette mesure tient compte de l\u2019impact personnel et \u00e9motionnel de<br>l\u2019expropriation sur les propri\u00e9taires.<\/li>\n\n\n\n<li>Frais de d\u00e9m\u00e9nagement et de r\u00e9installation : Cette indemnit\u00e9<br>couvre les co\u00fbts li\u00e9s au d\u00e9m\u00e9nagement et \u00e0 la r\u00e9installation des<br>propri\u00e9taires, y compris le co\u00fbt des logements temporaires.<br>Cela permet de s\u2019assurer que les propri\u00e9taires ne sont pas<br>financi\u00e8rement accabl\u00e9s par la n\u00e9cessit\u00e9 de trouver un nouveau<br>lieu pour vivre ou exploiter leur entreprise.<\/li>\n\n\n\n<li>Frais juridiques et d\u2019arpentage : Les co\u00fbts des services juridiques<br>et d\u2019arpentage requis dans le cadre de la proc\u00e9dure d\u2019expropriation<br>sont \u00e9galement couverts. Il s\u2019agit des frais de repr\u00e9sentation juridique,<br>de pr\u00e9paration des documents et d\u2019arpentage des propri\u00e9t\u00e9s.<br>Cadre l\u00e9gislatif : Les d\u00e9finitions et les dispositions relatives aux<br>dommages-int\u00e9r\u00eats pour cause de perturbation peuvent varier d\u2019une<br>juridiction \u00e0 l\u2019autre. L\u2019objectif commun est de veiller \u00e0 ce que les<br>propri\u00e9taires soient indemnis\u00e9s \u00e9quitablement pour tous les co\u00fbts<br>raisonnables encourus en raison de l\u2019expropriation.<br>Il est essentiel pour les propri\u00e9taires et les professionnels impliqu\u00e9s<br>dans les affaires d\u2019expropriation de comprendre les dommages-int\u00e9r\u00eats<br>pour cause de perturbation. Elle permet de s\u2019assurer que toutes<br>les parties sont conscientes de la nature globale de l\u2019indemnisation<br>disponible et aide \u00e0 n\u00e9gocier des r\u00e8glements \u00e9quitables qui tiennent<br>compte de l\u2019impact total de l\u2019expropriation sur les propri\u00e9taires.<br>Avantages g\u00e9n\u00e9raux et particuliers en cas d\u2019expropriation<br>Dans le contexte de l\u2019expropriation, la distinction entre les<br>avantages g\u00e9n\u00e9raux et particuliers est cruciale pour d\u00e9terminer la<br>juste compensation. Ces avantages refl\u00e8tent l\u2019impact des projets<br>d\u2019infrastructure publique et des am\u00e9liorations connexes sur la<br>valeur des propri\u00e9t\u00e9s.<br>Les avantages g\u00e9n\u00e9raux se r\u00e9f\u00e8rent aux am\u00e9liorations qui<br>profitent \u00e0 la communaut\u00e9 dans son ensemble et qui peuvent<br>indirectement augmenter la valeur des biens immobiliers. Ces<br>avantages sont g\u00e9n\u00e9ralement associ\u00e9s \u00e0 des projets d\u2019infrastructure<br>publique plus vastes ou \u00e0 des am\u00e9liorations communautaires qui ont<br>un impact positif sur l\u2019environnement g\u00e9n\u00e9ral dans lequel se trouvent<br>les biens immobiliers. En voici quelques exemples :<\/li>\n\n\n\n<li>Construction de nouveaux parcs ou espaces verts : Ces<br>am\u00e9nagements am\u00e9liorent la qualit\u00e9 de vie de l\u2019ensemble de la<br>communaut\u00e9, rendant la zone plus attrayante et d\u00e9sirable.<\/li>\n\n\n\n<li>Am\u00e9lioration des syst\u00e8mes de transport public : L\u2019am\u00e9lioration<br>des options de transport peut accro\u00eetre l\u2019accessibilit\u00e9 et la<br>commodit\u00e9, ce qui profite \u00e0 l\u2019ensemble de la population.<\/li>\n\n\n\n<li>Am\u00e9lioration des services publics : La modernisation des services<br>publics tels que l\u2019eau, l\u2019\u00e9lectricit\u00e9 et les r\u00e9seaux d\u2019\u00e9gouts peut<br>am\u00e9liorer le niveau de vie et attirer de nouveaux r\u00e9sidents ou de<br>nouvelles entreprises.<br>Bien que ces am\u00e9liorations n\u2019affectent pas directement une propri\u00e9t\u00e9<br>individuelle, elles contribuent \u00e0 rendre l\u2019ensemble de la zone plus<br>attrayante et d\u00e9sirable, ce qui entra\u00eene une augmentation indirecte de<br>la valeur des propri\u00e9t\u00e9s.<br>Les avantages particuliers sont des avantages directs pour le<br>bien restant qui r\u00e9sultent de l\u2019expropriation ou des am\u00e9liorations<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 31<br>EXPROPRIATION 101<br>de l\u2019infrastructure qui y sont li\u00e9es. Ces avantages ont un impact<br>plus imm\u00e9diat et plus tangible sur la valeur de la propri\u00e9t\u00e9. En voici<br>quelques exemples :<\/li>\n\n\n\n<li>Am\u00e9lioration de l\u2019accessibilit\u00e9 : La construction de nouvelles<br>routes ou l\u2019am\u00e9lioration de la circulation peuvent rendre un bien<br>immobilier plus accessible, ce qui en accro\u00eet l\u2019utilit\u00e9 et l\u2019attrait.<\/li>\n\n\n\n<li>Am\u00e9lioration directe de l\u2019infrastructure : La modernisation<br>des services publics ou des syst\u00e8mes de drainage am\u00e9liore<br>directement la fonctionnalit\u00e9 et le rendement d\u2019un bien immobilier.<\/li>\n\n\n\n<li>Augmentation de l\u2019exposition ou de la visibilit\u00e9 : Les changements<br>dans l\u2019utilisation des terrains environnants ou dans l\u2019infrastructure<br>qui am\u00e9liorent la visibilit\u00e9 du bien immobilier peuvent attirer<br>davantage de clients ou de locataires, ce qui augmente sa valeur.<br>Les avantages particuliers ont un impact positif sur la valeur du bien<br>immobilier en am\u00e9liorant sa fonctionnalit\u00e9, son accessibilit\u00e9 ou son<br>attrait g\u00e9n\u00e9ral. Il s\u2019agit souvent de la compensation, que l\u2019on retrouve<br>dans diverses lois telles que l\u2019article 32 du Manitoba, l\u2019article 23<br>de l\u2019Ontario, l\u2019article 48 du Nouveau-Brunswick et l\u2019article 32 de la<br>Nouvelle-\u00c9cosse, mais la compensation ne s\u2019applique g\u00e9n\u00e9ralement<br>qu\u2019\u00e0 l\u2019affection pr\u00e9judiciable; toutefois, certaines juridictions, comme<br>la Colombie-Britannique, autorisent la compensation du \u00ab montant de<br>l\u2019indemnit\u00e9 payable \u00bb et ne limitent pas la compensation \u00e0 l\u2019affection<br>pr\u00e9judiciable. Cela s\u2019\u00e9carte en effet de l\u2019approche la plus courante qui<br>consiste \u00e0 limiter la compensation \u00e0 l\u2019affection pr\u00e9judiciable.<br>Consid\u00e9rations juridiques<br>Dans le contexte de l\u2019expropriation, il est essentiel de faire la<br>distinction entre les avantages g\u00e9n\u00e9raux et les avantages particuliers<br>pour d\u00e9terminer la juste compensation.<\/li>\n\n\n\n<li>Avantages g\u00e9n\u00e9raux : G\u00e9n\u00e9ralement consid\u00e9r\u00e9s comme profitant<br>\u00e0 l\u203aensemble de la communaut\u00e9, ils ne sont g\u00e9n\u00e9ralement pas pris<br>en compte dans les demandes d\u203aindemnisation individuelles, car<br>leur impact est diffus et g\u00e9n\u00e9ralis\u00e9. Il existe une exception \u00e0 cette<br>r\u00e8gle en vertu de l\u203aarticle 44 (1) de la loi sur l\u203aexpropriation de la<br>Colombie-Britannique (BC Expropriation Act).<\/li>\n\n\n\n<li>Avantages particuliers : Directement li\u00e9s \u00e0 la propri\u00e9t\u00e9 restante,<br>ils doivent \u00eatre pris en compte lors de l\u2019\u00e9valuation de l\u2019indemnit\u00e9<br>d\u2019expropriation. Les propri\u00e9taires ont droit \u00e0 une indemnit\u00e9 qui<br>refl\u00e8te les effets n\u00e9gatifs sur leur propri\u00e9t\u00e9 tout en tenant compte<br>des effets positifs des avantages particuliers.<br>La compr\u00e9hension de ces concepts permet de s\u2019assurer que les<br>propri\u00e9taires re\u00e7oivent une indemnisation appropri\u00e9e pour les<br>effets n\u00e9gatifs sur leur propri\u00e9t\u00e9 tout en tenant compte des effets<br>positifs r\u00e9sultant de l\u2019expropriation et des am\u00e9liorations qui en<br>d\u00e9coulent. En faisant la distinction entre les avantages g\u00e9n\u00e9raux et<br>les avantages particuliers, les \u00e9valuateurs et les juristes peuvent<br>garantir une proc\u00e9dure d\u2019indemnisation juste et \u00e9quitable pour les<br>propri\u00e9taires concern\u00e9s.<br>La relocalisation : Une perspective comparative<br>La relocalisation est un aspect essentiel de l\u2019expropriation. Au<br>Canada, le processus de rachat total peut varier consid\u00e9rablement<br>de ce qui se fait aux \u00c9tats-Unis en vertu de la loi f\u00e9d\u00e9rale Uniform<br>Relocation Assistance and Real Property Acquisition Policies of<br>1970 Act (URA). Il est essentiel de comprendre ces diff\u00e9rences<br>pour garantir un traitement \u00e9quitable et un soutien ad\u00e9quat aux<br>propri\u00e9taires d\u00e9plac\u00e9s.<br>Dans le cas d\u2019un rachat total, les deux pays fournissent une aide<br>financi\u00e8re telle que le paiement de la valeur marchande ainsi que<br>des frais de r\u00e9installation. Toutefois, l\u2019URA pr\u00e9voit \u00e9galement des \u00ab<br>services de conseil \u00bb dans le cadre desquels les propri\u00e9taires d\u00e9plac\u00e9s<br>b\u00e9n\u00e9ficient d\u2019une aide pour trouver des solutions de logement en<br>vue de leur r\u00e9installation. Ce type de service n\u2019est pas pr\u00e9vu par la<br>l\u00e9gislation canadienne sur l\u2019expropriation.<br>La Commission de r\u00e9forme du droit de l\u2019Ontario a r\u00e9dig\u00e9 un<br>rapport sur la base d\u2019indemnisation en cas d\u2019expropriation en 1967.<br>\u00c0 la page 11 de ce rapport, on peut lire ce qui suit : \u00ab En outre, il<br>faut s\u2019efforcer de perturber le moins possible la vie des citoyens.<br>L\u2019indemnit\u00e9 doit \u00eatre telle qu\u2019elle lui permette de retrouver une vie<br>normale. Non seulement il doit recevoir la valeur mon\u00e9taire de<br>sa perte, mais le gouvernement doit s\u2019efforcer d\u2019assurer une<br>transition en douceur, par le biais d\u2019une aide \u00e0 la r\u00e9installation,<br>financi\u00e8re ou autre. \u00bb<br>Certaines agences gouvernementales aident les propri\u00e9taires<br>dans leurs d\u00e9m\u00e9nagements respectifs, mais ce n\u2019est pas obligatoire<br>et, par cons\u00e9quent, de nombreuses agences ne fournissent pas ce<br>service, ce qui est regrettable. Lorsqu\u2019une personne doit quitter son<br>logement, cela peut \u00eatre une exp\u00e9rience tr\u00e8s stressante pour elle, ce<br>qui doit \u00eatre reconnu tout au long de la proc\u00e9dure d\u2019expropriation.<br>L\u2019aide \u00e0 la r\u00e9installation peut att\u00e9nuer consid\u00e9rablement le<br>stress et les perturbations caus\u00e9s par l\u2019expropriation. L\u2019absence<br>de services consultatifs obligatoires au Canada contraste avec<br>l\u2019approche plus compl\u00e8te adopt\u00e9e dans le cadre de l\u2019URA aux \u00c9tats-<br>Unis. Cette diff\u00e9rence met en \u00e9vidence un domaine cl\u00e9 dans lequel<br>la l\u00e9gislation canadienne en mati\u00e8re d\u2019expropriation pourrait \u00eatre<br>am\u00e9lior\u00e9e afin d\u2019assurer une transition plus douce et plus favorable<br>pour les propri\u00e9taires d\u00e9plac\u00e9s.<br>En conclusion, l\u2019int\u00e9gration d\u2019une aide obligatoire \u00e0 la<br>r\u00e9installation, y compris des services de conseil, dans la l\u00e9gislation<br>canadienne sur l\u2019expropriation pourrait contribuer \u00e0 att\u00e9nuer les<br>effets n\u00e9gatifs du d\u00e9placement et aider les propri\u00e9taires \u00e0 trouver<br>un nouveau logement convenable. Cette approche serait conforme<br>aux principes \u00e9nonc\u00e9s par la Commission de r\u00e9forme du droit de<br>l\u2019Ontario et contribuerait \u00e0 une proc\u00e9dure d\u2019expropriation plus<br>humaine et plus \u00e9quitable.<br>Valeur marchande et valeur pour le propri\u00e9taire<br>Valeur marchande : La valeur marchande correspond au prix de vente<br>d\u2019un bien sur le march\u00e9 libre. Cette mesure objective est la norme<br>d\u2019indemnisation dans de nombreux cas d\u2019expropriation au Canada.<br>Elle refl\u00e8te le montant qu\u2019un acheteur consentant paierait \u00e0 un<br>vendeur consentant sur un march\u00e9 concurrentiel et ouvert, en tenant<br>compte de tous les facteurs juridiques et r\u00e9glementaires. Ce concept<br>est largement adopt\u00e9 par le gouvernement f\u00e9d\u00e9ral, la plupart des<br>Canadian Property Valuation | \u00c9valuation 32 immobili\u00e8re au Canada Return to CONTENTS<br>provinces et tous les territoires. La valeur marchande est d\u00e9termin\u00e9e par :<\/li>\n\n\n\n<li>Les donn\u00e9es de ventes comparables ;<\/li>\n\n\n\n<li>les conditions du march\u00e9 au moment de l\u2019\u00e9valuation ;<\/li>\n\n\n\n<li>les caract\u00e9ristiques physiques et les attributs juridiques du bien.<br>Valeur pour le propri\u00e9taire : La valeur pour le propri\u00e9taire reconna\u00eet la<br>valeur subjective qu\u2019un bien immobilier a pour son propri\u00e9taire, qui peut<br>\u00eatre sup\u00e9rieure \u00e0 sa valeur marchande pour des raisons personnelles<br>ou professionnelles. Ce concept met l\u2019accent sur une indemnisation<br>qui tient compte de l\u2019attachement et de l\u2019investissement uniques<br>d\u2019un propri\u00e9taire \u00e0 l\u2019\u00e9gard de son bien. Le concept de valeur pour<br>le propri\u00e9taire est pris en compte dans des juridictions telles que la<br>Saskatchewan, l\u2019\u00cele-du-Prince-\u00c9douard et le Qu\u00e9bec.<br>Cependant, des provinces comme l\u2019\u00cele-du-Prince-\u00c9douard sont<br>en train de revoir leur l\u00e9gislation sur les indemnit\u00e9s d\u2019expropriation<br>pour tenir compte de la valeur pour le propri\u00e9taire. Par exemple, le<br>juge Matheson a fait remarquer dans l\u2019affaire Haras Management et<br>al. v. Gov. of P.E.I., 2017 PESC 14, que la province devrait envisager de<br>r\u00e9viser la loi sur l\u2019expropriation afin de l\u2019aligner sur les lois f\u00e9d\u00e9rales et<br>provinciales d\u2019autres juridictions concernant l\u2019indemnisation appropri\u00e9e<br>en cas d\u2019expropriation.<br>R\u00e9sum\u00e9<br>Il est essentiel de comprendre la distinction entre la valeur marchande<br>et la valeur pour le propri\u00e9taire dans les affaires d\u2019expropriation. Alors<br>que la valeur marchande constitue une r\u00e9f\u00e9rence objective largement<br>utilis\u00e9e au Canada, la valeur pour le propri\u00e9taire offre une approche<br>plus personnalis\u00e9e de l\u2019indemnisation, en reconnaissant l\u2019importance<br>unique qu\u2019un bien peut avoir pour son propri\u00e9taire.<br>Exp\u00e9riences et aspects \u00e0 am\u00e9liorer<br>Exp\u00e9rience \u00e0 l\u2019\u00e9gard des lois sur l\u2019expropriation<br>Tout au long de ma carri\u00e8re, j\u2019ai travaill\u00e9 sur diverses lois d\u2019expropriation<br>\u00e0 travers le Canada. Ces exp\u00e9riences ont mis en \u00e9vidence les forces et les<br>faiblesses du cadre l\u00e9gislatif actuel. L\u2019id\u00e9al est de laisser le propri\u00e9taire<br>\u00ab entier \u00bb. Ce n\u2019est pas toujours possible mais, comme l\u2019a d\u00e9clar\u00e9 la Cour<br>supr\u00eame du Canada dans l\u2019affaire Irving Oil Ltd. c. R., [1946] R.C.S. 551,<br>\u00ab le propri\u00e9taire d\u00e9plac\u00e9 doit \u00eatre laiss\u00e9 autant que possible dans la m\u00eame<br>situation financi\u00e8re qu\u2019avant la prise de possession, \u00e0 condition que les<br>dommages, pertes ou d\u00e9penses pour lesquels l\u2019indemnit\u00e9 est demand\u00e9e<br>soient directement attribuables \u00e0 la prise de possession des terres \u00bb.<br>Recommandations d\u2019am\u00e9lioration<br>En mettant en oeuvre les recommandations suivantes, le droit et la<br>pratique de l\u2019expropriation peuvent \u00eatre am\u00e9lior\u00e9s afin de garantir<br>l\u2019\u00e9quit\u00e9, la transparence et le soutien aux propri\u00e9taires concern\u00e9s, ce<br>qui permettra d\u2019obtenir des r\u00e9sultats plus efficaces et plus \u00e9quitables.<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Normalisation des pratiques de relocalisation :<br>\u25e6 \u00c9laborer des lignes directrices nationales : Collaborer avec<br>les autorit\u00e9s f\u00e9d\u00e9rales et provinciales pour \u00e9laborer des lignes<br>directrices normalis\u00e9es sur les pratiques de r\u00e9installation, en<br>s\u2019inspirant de l\u2019URA des \u00c9tats-Unis.<br>\u25e6 Formation et ressources : Fournir une formation aux<br>professionnels de l\u2019immobilier et au personnel de soutien pour<br>s\u2019assurer qu\u2019ils comprennent les lignes directrices susmentionn\u00e9es<br>et qu\u2019ils peuvent les mettre en oeuvre efficacement.<br>\u25e6 Services de soutien : Mettre en place des services de soutien<br>complets, y compris des conseils, une aide financi\u00e8re et une<br>logistique de relocalisation pour aider les personnes et les<br>familles d\u00e9plac\u00e9es.<\/li>\n\n\n\n<li>Incorporation de la norme de la valeur marchande :<br>\u25e6 Modifications l\u00e9gislatives : Plaider en faveur d\u2019amendements<br>aux lois sur l\u2019expropriation afin d\u2019inclure explicitement la valeur<br>marchande comme norme d\u2019indemnisation.<br>\u25e6 Normes d\u2019\u00e9valuation : \u00c9laborer et appliquer des m\u00e9thodes<br>d\u2019\u00e9valuation normalis\u00e9es afin de garantir des \u00e9valuations<br>coh\u00e9rentes et pr\u00e9cises de la valeur marchande.<br>\u25e6 Communication : Communiquer clairement la norme de la valeur<br>marchande aux propri\u00e9taires et aux parties prenantes afin de<br>garantir la transparence et la compr\u00e9hension.<\/li>\n\n\n\n<li>Processus transparents et inclusifs :<br>\u25e6 Engagement des parties prenantes : Cr\u00e9er des forums et<br>des plates-formes pour un engagement r\u00e9gulier avec les<br>propri\u00e9taires et les communaut\u00e9s concern\u00e9es afin de recueillir<br>leurs avis et de r\u00e9pondre \u00e0 leurs pr\u00e9occupations.<br>\u25e6 Audience de n\u00e9cessit\u00e9 : R\u00e9introduire l\u2019audience de n\u00e9cessit\u00e9<br>dans la r\u00e9gion du Grand Toronto pour certains projets de<br>transport en commun qui ont \u00e9t\u00e9 exclus, afin de fournir aux<br>propri\u00e9taires concern\u00e9s une plateforme formelle pour exprimer<br>leurs pr\u00e9occupations avant que les projets de transport en<br>commun n\u2019aillent de l\u2019avant.<br>\u25e6 Pratiques d\u2019indemnisation : Normaliser les pratiques<br>d\u2019indemnisation \u00e0 travers le Canada pour s\u2019assurer que les<br>propri\u00e9taires concern\u00e9s sont toujours pay\u00e9s pour la valeur de la<br>partie prise, favorisant ainsi la coh\u00e9rence et l\u2019\u00e9quit\u00e9.<br>Conclusion<br>Dans les relations avec les propri\u00e9taires et les locataires concern\u00e9s,<br>il est essentiel de tenir compte de la d\u00e9cision de la Cour supr\u00eame<br>du Canada dans l\u2019affaire Dell Holdings Ltd. c. Toronto Area Transit<br>Operating Authority, [1997] 1 R.C.S. 32 :<br>\u00ab L\u2019expropriation d\u2019un bien est l\u2019un des pouvoirs gouvernementaux<br>qui n\u2019est exerc\u00e9 qu\u2019en dernier ressort. L\u2019expropriation totale ou<br>partielle d\u2019un bien appartenant \u00e0 une personne constitue une<br>grave perte ainsi qu\u2019une atteinte tr\u00e8s importante aux droits priv\u00e9s<br>de propri\u00e9t\u00e9 des citoyens. Il s\u2019ensuit que le pouvoir d\u2019une autorit\u00e9<br>expropriante devrait \u00eatre interpr\u00e9t\u00e9 de fa\u00e7on stricte en faveur des<br>personnes dont les droits sont touch\u00e9s. \u00bb<br>En adh\u00e9rant \u00e0 ce principe, nous pouvons nous assurer que le<br>pouvoir d\u2019expropriation est exerc\u00e9 avec le plus grand soin et la plus<br>grande consid\u00e9ration, dans le respect des droits et de la dignit\u00e9 des<br>propri\u00e9taires concern\u00e9s. Cette approche conduira \u00e0 des processus<br>d\u2019acquisition de biens immobiliers plus \u00e9quitables, plus compatissants<br>et plus efficaces pour l\u2019usage public.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 33<br>Appraising places<br>of worship:<br>UNIQUE PROPERTY VALUATION<br>By Demitry Omrin, MBA, P. App., AACI, PLE, MRICS<br>A-typical real property is often<br>thought to be the most difficult or complex<br>to appraise. One example, which I will<br>examine in this article, is a place of worship<br>asset valuation. In reality, however, the<br>same methodologies used to value more<br>commonly traded assets are also employed<br>in the appraisal of unique properties. It is<br>a matter of applying known valuation<br>principles within the specific context of the<br>asset being appraised. For the purpose<br>of this article, the case study is that of<br>a 5-year-old Sikh temple located in the<br>western region of Toronto, Ontario.<br>Following routine valuation procedure,<br>the initial question is, of course, \u201cWhat is<br>Canadian Property Valuation | \u00c9valuation 34 immobili\u00e8re au Canada Return to CONTENTS<br>the highest and best use of the land<br>as though vacant and improved?\u201d<br>But, before we can answer that question,<br>it is important to frame the highest and<br>best use analysis around understanding<br>how the word market is defined for the<br>unique property at hand and whether the<br>circumstances within which the subject<br>property trades reflects a definition of<br>value other than Market Value.<br>Buyers of this asset type operate<br>within a somewhat closed market.<br>The notion of a restricted or closed market<br>gives rise to the possibility of an alternate<br>value definition known as Value to Owner.<br>This is a concept whereby value, due to<br>its unique specificity, may be higher to a<br>particular prospective buyer. For example,<br>the relative scarcity of Sikh temples in an<br>area that has the requisite demographic,<br>will create demand and thereby Value<br>to Owner that may be higher than open<br>Market Value based upon more common<br>land uses. Ultimately, places of worship<br>carry great importance to members of<br>a given faith, which further gives rise to<br>the notion of Value to Owner. Whether<br>the concept of Value to Owner or open<br>Market Value is greater will be confirmed<br>or rejected through application of the<br>feasibility portion of the highest and best<br>use analysis.<br>With a preliminary understanding of<br>the subject\u2019s market and its underlying<br>motivations, the highest and best use analysis<br>will become more readily understood around<br>the four pillars of consideration:<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>legally permissible;<\/li>\n\n\n\n<li>physically possible;<\/li>\n\n\n\n<li>financially feasible; and<\/li>\n\n\n\n<li>maximally productive.<br>Let\u2019s examine each pillar in the context of<br>the property at hand.<br>Legally permissible<\/li>\n\n\n\n<li>Zoning permits light industrial use,<br>which was the main development in<br>the immediate area and within the<br>subject complex.<\/li>\n\n\n\n<li>Other uses allowed under land use<br>controls include commercial office<br>and retail.<\/li>\n\n\n\n<li>Based upon legality alone, there are a<br>number of alternate options available.<br>Physically possible<\/li>\n\n\n\n<li>Subject place of worship is situated on<br>remaining area of a site that resulted<br>from an industrial condominium (strata)<br>project completion. Therefore, minimal<br>options were left due to the relatively<br>small land area and the fact that the<br>subject parcel is land locked, i.e.,<br>ingress and egress must be through the<br>industrial mall.<br>Financially feasible \u2013 market research:<\/li>\n\n\n\n<li>What use(s) are in demand as per<br>the demographic base? Highest<br>proportion of demographic is within the<br>Sikh community.<\/li>\n\n\n\n<li>What use(s) do the Sikh community need<br>or value the most? Members of the Sikh<br>community travel well beyond the region<br>to attend religious services.<\/li>\n\n\n\n<li>If demand exists for a place of worship,<br>what is the cost vs. return? How is<br>this quantified in the context of a<br>development that is not purchased for<br>an investment? In other words, how<br>is feasibility measured? As will be<br>discussed later in this article, feasibility<br>is measured through understanding that<br>the non-profit corporation that owns the<br>subject must be financially sustainable<br>on par with for profit corporations.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 35<br>Maximally productive<\/li>\n\n\n\n<li>Of the options that are feasible, which<br>one or combinations thereof maximize<br>value and accurately define highest and<br>best use? In the case of the subject, given<br>the site limitations and other factors,<br>use of a Sikh temple was ultimately<br>determined to represent highest and best<br>use as if vacant and improved.<br>Highest and best use<br>As if vacant<br>As noted earlier, the subject land parcel<br>was deliberately left vacant following<br>the construction of a light industrial<br>condominium (strata) within the complex.<br>This was due to a number of factors. First,<br>the scale (relative to demand) of light<br>industrial use within the condominium<br>(strata) complex was maximized. Second,<br>demand for alternate uses as permitted<br>under land use control, such as retail<br>and commercial office space, dwindled<br>post-pandemic. Therefore, the feasibility<br>threshold was not met through industrial,<br>retail, or office use. The last consideration<br>was the fact that the subject site lacked<br>independent access, i.e., it is land-locked<br>with no on-site parking facility.<br>However, through market research<br>it was determined that there was a<br>prevalent Sikh demographic and that Sikh<br>parishioners in the area currently travel a<br>significant distance to worship. In this vein,<br>the condominium (strata) board expressed<br>willingness to provide an easement<br>granting access to the Sikh temple through<br>the industrial complex on the condition<br>that the development was strictly for a<br>Sikh temple. Consequently, given the<br>unique limitations and demographic<br>considerations, the most desired and<br>valued use is that of a Sikh temple if the<br>subject site was hypothetically vacant as at<br>the valuation date.<br>As improved<br>In this particular case study, the subject<br>Sikh temple was recently constructed.<br>To a degree, there is a benefit of hindsight.<br>Attendance records confirm that the temple<br>operates near or at full capacity on a daily<br>basis. During the feasibility phase of the<br>analysis, it was noted that the value and<br>greatest return on construction costs<br>were highest with the largest possible<br>building size\/capacity. Essentially, the<br>larger the building, the greater the number<br>of parishioners that could financially<br>contribute to the non-profit entity that<br>owns the subject property. In other words,<br>economies of scale for the property could<br>only be achieved through donations spread<br>over a large parishioner base. This was<br>confirmed through an examination of the<br>financial statements of the non-profit<br>corporation. Clearly, strong financial<br>solvency of the non-profit is essential for<br>the continuance of the subject property in<br>its operation as a Sikh Temple. Therefore,<br>highest and best use as improved is as a<br>Sikh temple in its current form as to the<br>building size\/capacity and quality of capital<br>improvements in place, which maximize<br>desirability and value.<br>Valuation methodology<br>With highest and best use established<br>as a regional Sikh temple, the analysis<br>then turns to how the value of the property<br>is determined. In this regard, the central<br>consideration lies in understanding the<br>thought process of potential buyers<br>in the market of the subject property.<br>That is because the true appraisers are<br>buyers who we, as real estate valuators,<br>must understand so as to communicate<br>their motivations within an appraisal<br>report. Buyer behaviour is captured<br>within one or more of our traditional<br>valuation methodologies; the direct<br>comparison approach, cost approach,<br>and income approach.<br>Direct comparison approach<br>If buyers within the subject market<br>segment must quantify its value, what<br>valuation elements do they consider<br>relevant? Clearly, as indicated earlier,<br>a larger building will command a higher<br>value since it achieves economies of scale<br>through a higher number of individuals<br>that may offer charitable donations to<br>the non-profit. Location is also a central<br>consideration since the temple must<br>be proximate to the demographic that it<br>serves. Building condition and quality<br>of improvements also weigh in. Religion<br>and worship of a person\u2019s faith is revered.<br>This would infer that quality construction<br>materials and appropriate finishing<br>(i.e., religious embellishments) are an<br>important consideration. They form part of<br>the capital improvements in keeping with<br>the tradition of Sikh temples and thereby<br>contribute to the property\u2019s value.<br>With these main drivers of value<br>identified, the next logical step is to<br>decide the basis upon which appropriate<br>comparables will be selected. What<br>asset types would be a suitable proxy<br>for a Sikh temple? The subject property<br>is clearly not a generic asset that lends<br>itself to comparison. However, in lieu<br>of reliance upon other Sikh temple<br>transactions, which conceivably may not<br>exist, the question then is: What would a<br>prospective buyer of the subject property<br>consider as an alternative asset that could<br>be converted into a Sikh temple? If we<br>look at the key value drivers \u2013 building<br>size, location, and quality\/condition of<br>the capital improvements \u2013 it becomes<br>apparent that other assets may act as<br>surrogate comparables. Examples may<br>include a banquet hall and sports complex.<br>Typically, these types of buildings<br>are larger in size and offer ample parking<br>due to the building size\/capacity. Under<br>normal circumstances, adjustments for<br>differences between each comparable<br>and the subject are addressed through a<br>pairing analysis. However, if insufficient<br>market data exists in order to perform a<br>pairing study, then an alternate approach<br>is to survey prospective buyers of<br>religious properties and ask how they<br>determined value at the time of purchase<br>and on what basis and to what degree<br>would the purchase price vary due to the<br>differences between a comparable and a<br>subject property.<br>Canadian Property Valuation | \u00c9valuation 36 immobili\u00e8re au Canada Return to CONTENTS<br>Cost approach<br>On the surface, the cost approach\u2019s<br>application is very different than the direct<br>comparison approach. However, a closer<br>examination of the relationship between<br>these two methodologies reveals the fact<br>that they are both comparison based.<br>The more unique a property is, the less<br>likely that generic comparisons exist. If a<br>property is so unique that no true comparison<br>exists, then the logical \u2018comparison\u2019<br>becomes the cost to re-create the property<br>as a proxy of its value. The cost to re-create<br>becomes its own comparison to a potential<br>buyer. Examples include a 3.5M square foot<br>industrial building \u2013 there are only a handful<br>of buildings of this size in Canada. In this<br>case, a buyer would determine the value of<br>the underlying land through comparison and<br>than estimate cost to build, which collectively<br>would give a summation of value through<br>the cost approach. More importantly, a<br>comparison was made between the subject<br>property and cost.<br>Income approach<br>Through the course of analysis and market<br>research, it became clear that the Sikh<br>temples are not typically leased through<br>a management company or otherwise<br>purchased for income. Rather, temples are<br>most often purchased and owned by a<br>non-profit on behalf of the Sikh community for<br>a use that is typically not directly associated<br>with an income stream. Consequently, the<br>value of the subject does not correspond to an<br>income-based valuation methodology.<br>Conditional considerations<br>While the standard limiting conditions may<br>appropriately address most of the subject<br>value drivers, given their impact on value it<br>is noteworthy to highlight them here.<\/li>\n\n\n\n<li>In the case of the subject project, the<br>fact that it is land-locked was addressed<br>through an easement agreement with<br>the condominium (strata) corporation<br>of the industrial units within the<br>complex. Accordingly, the subject\u2019s<br>value is conditional upon the continued<br>existence and legal enforceability of<br>the easement agreement that provides<br>access and parking.<\/li>\n\n\n\n<li>As indicated earlier, the feasibility of the<br>subject and its sustained value is tied to the<br>level of donations. Therefore, Market Value<br>is contingent upon an existing demographic<br>that will support and maintain a financially<br>solvent non-profit corporation.<\/li>\n\n\n\n<li>Market Value is also predicated<br>upon economic conditions yielding a<br>discretionary income level that enables<br>parishioners to make financial donations<br>to the non-profit.<br>\u25e6 The value of the subject through<br>the notion of Value in Use was<br>$16,000,000. If the Sikh temple was<br>no longer in demand or financially<br>insolvent for whatever reason, the<br>value would revert to open Market<br>Value, which was determined to<br>be $4,500,000 (land value) less<br>demolition costs of the existing Sikh<br>temple building. Accordingly, if the<br>authorized user of the report is a<br>lender, the disparity in value from a<br>Value in Use to open Market Value is<br>a critical notation to include in the<br>report in order to inform the client<br>of potential future risk related to the<br>length of the loan amortization period.<br>Summary<br>At the onset of this article, I stated that<br>routine valuation procedures adequately<br>address valuation issues of even the<br>most unique or difficult valuations, and<br>this holds true. It is simply a matter of<br>understanding the market in which<br>the subject property operates and the<br>corresponding motivations and interests<br>of the prospective buyers within that<br>particular market segment.<br>Suite 101, 24 Inglewood Drive, St. Albert, AB T8N 6K4<br>Please send resumes to: info@crvg.com<br>AACI &amp; Candidates<br>Tel: (780) 424-8856 \u2022 Fax: (587) 290-2267<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 37<br>\u00c9valuation<br>d\u2019un lieu de culte :<br>BIEN UNIQUE<br>Par Demitry Omrin, MBA, \u00c9. Pro., AACI, PLE, MRICS<br>Les biens immobiliers atypiques<br>sont souvent consid\u00e9r\u00e9s comme les plus<br>difficiles ou les plus complexes \u00e0 \u00e9valuer.<br>Un exemple, que j\u2019examinerai dans cet article,<br>est l\u2019\u00e9valuation d\u2019un lieu de culte. En r\u00e9alit\u00e9,<br>les m\u00e9thodologies utilis\u00e9es pour \u00e9valuer<br>les actifs les plus couramment \u00e9chang\u00e9s<br>sont \u00e9galement employ\u00e9es pour l\u2019\u00e9valuation<br>des biens uniques. Il s\u2019agit d\u2019appliquer des<br>principes d\u2019\u00e9valuation connus dans le contexte<br>sp\u00e9cifique du bien \u00e9valu\u00e9. Dans le cadre de<br>cet article, l\u2019\u00e9tude de cas porte sur un temple<br>sikh construit il y a cinq ans dans la r\u00e9gion<br>ouest de Toronto, en Ontario.<br>Au terme d\u2019une proc\u00e9dure d\u2019\u00e9valuation<br>de routine, la question initiale est celle<br>Canadian Property Valuation | \u00c9valuation 38 immobili\u00e8re au Canada Return to CONTENTS<br>de la bien entendu, la suivante : \u00ab Quelle<br>est l&rsquo;utilisation optimale du terrain, qu&rsquo;il<br>soit vacant ou am\u00e9lior\u00e9? \u00bb Mais avant<br>de pouvoir r\u00e9pondre \u00e0 cette question,<br>il est important d\u2019encadrer l\u2019analyse de<br>l\u2019utilisation optimale en comprenant<br>comment le mot \u00ab march\u00e9 \u00bb est d\u00e9fini pour<br>le bien en question et si les circonstances<br>dans lesquelles le bien en question est<br>n\u00e9goci\u00e9 refl\u00e8tent une d\u00e9finition de la<br>valeur autre que la valeur marchande.<br>Les acheteurs de ce type de biens<br>op\u00e8rent sur un march\u00e9 quelque peu ferm\u00e9.<br>La notion d&rsquo;un march\u00e9 restreint ou ferm\u00e9<br>donne lieu \u00e0 la possibilit\u00e9 d\u2019une autre<br>d\u00e9finition de la valeur, connue sous le<br>nom de \u00ab valeur pour le propri\u00e9taire \u00bb.<br>Il s\u2019agit d\u2019un concept selon lequel la<br>valeur, en raison de sa sp\u00e9cificit\u00e9 unique,<br>peut \u00eatre plus \u00e9lev\u00e9e pour un acheteur<br>potentiel particulier. Par exemple, la raret\u00e9<br>relative des temples sikhs dans une r\u00e9gion<br>disposant de la d\u00e9mographie n\u00e9cessaire<br>cr\u00e9era une demande et donc une valeur<br>pour le propri\u00e9taire qui peut \u00eatre plus<br>\u00e9lev\u00e9e que la valeur marchande ouverte<br>bas\u00e9e sur des utilisations de terrain plus<br>courantes. En fin de compte, les lieux de<br>culte rev\u00eatent une grande importance pour<br>les membres d\u2019une religion donn\u00e9e, ce<br>qui donne lieu \u00e0 la notion de valeur pour<br>le propri\u00e9taire. L\u2019application de la partie<br>faisabilit\u00e9 de l\u2019analyse de l\u2019utilisation<br>optimal, qui permettra de confirmer ou<br>d\u2019infirmer si le concept de valeur pour<br>le propri\u00e9taire est plus important que le<br>concept de valeur marchande.<br>S\u2019appuyant sur une compr\u00e9hension<br>pr\u00e9liminaire du march\u00e9 du bien en objet<br>et de ses motivations sous-jacentes,<br>l\u2019analyse de l\u2019utilisation optimale sera plus<br>facile \u00e0 comprendre autour des quatre<br>piliers \u00e0 prendre en consid\u00e9ration :<\/li>\n\n\n\n<li>l\u00e9galement permissible ;<\/li>\n\n\n\n<li>physiquement possible ;<\/li>\n\n\n\n<li>financi\u00e8rement faisable ; et<\/li>\n\n\n\n<li>le plus productif possible.<br>Examinons chaque pilier dans le contexte<br>du bien en question.<br>L\u00e9galement permissible<\/li>\n\n\n\n<li>Le zonage autorise l\u2019utilisation pour<br>industrie l\u00e9g\u00e8re, ce qui a \u00e9t\u00e9 le principal<br>d\u00e9veloppement dans la zone imm\u00e9diate<br>et dans le complexe en question.<\/li>\n\n\n\n<li>Les autres utilisations autoris\u00e9es dans<br>le cadre du contr\u00f4le de l\u2019occupation des<br>sols sont les bureaux commerciaux et<br>les commerces de d\u00e9tail.<\/li>\n\n\n\n<li>Sur la seule base de la l\u00e9galit\u00e9, il existe<br>un certain nombre d\u2019options alternatives.<br>Physiquement possible<\/li>\n\n\n\n<li>Le lieu de culte en question est situ\u00e9<br>sur la partie restante d\u2019un site r\u00e9sultant<br>de l\u2019ach\u00e8vement d\u2019un projet de<br>condominium industriel (strata).<br>Il ne restait donc que peu d\u2019options en<br>raison de la superficie relativement<br>r\u00e9duite du terrain et du fait que la<br>parcelle en question est enclav\u00e9e,<br>c\u2019est-\u00e0-dire que l\u2019entr\u00e9e et la sortie<br>doivent se faire \u00e0 travers le centre<br>commercial industriel.<br>Financi\u00e8rement faisable \u2013<br>recherche du march\u00e9 :<\/li>\n\n\n\n<li>Quelle(s) utilisation(s) est (sont)<br>en demande d\u2019apr\u00e8s la base<br>d\u00e9mographique? La plus grande<br>proportion de la population se trouve<br>dans la communaut\u00e9 sikhe.<\/li>\n\n\n\n<li>De quelle(s) utilisation(s) la<br>communaut\u00e9 sikhe a-t-elle le plus<br>besoin et \u00e0 quelle(s) utilisation(s)<br>accorde-t-elle la plus grande valeur ?<br>Les membres de la communaut\u00e9 sikhe<br>se d\u00e9placent bien au-del\u00e0 de la r\u00e9gion<br>pour assister aux offices religieux.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 39<\/li>\n\n\n\n<li>S\u2019il existe une demande pour un lieu<br>de culte, quel est le rapport co\u00fbt\/<br>rendement? Comment le quantifier dans<br>le contexte d\u2019un d\u00e9veloppement qui n\u2019est<br>pas achet\u00e9 pour un investissement?<br>En d\u2019autres termes, comment mesurer<br>la faisabilit\u00e9? Comme nous le verrons<br>plus loin dans cet article, la faisabilit\u00e9 est<br>mesur\u00e9e en tenant compte du fait que la<br>soci\u00e9t\u00e9 \u00e0 but non lucratif propri\u00e9taire du<br>bien doit \u00eatre financi\u00e8rement viable, au<br>m\u00eame titre que les soci\u00e9t\u00e9s \u00e0 but lucratif.<br>Le plus productif possible<\/li>\n\n\n\n<li>Parmi les options possibles, laquelle<br>ou quelles combinaisons d\u2019options<br>maximisent la valeur et d\u00e9finissent<br>avec pr\u00e9cision l\u2019utilisation optimale?<br>Dans le cas pr\u00e9sent, compte tenu des<br>limites du site et d\u2019autres facteurs, il<br>a \u00e9t\u00e9 d\u00e9termin\u00e9 que l\u2019utilisation d\u2019un<br>temple sikh repr\u00e9sentait l\u2019utilisation<br>optimale, comme si le terrain \u00e9tait vacant<br>et am\u00e9lior\u00e9.<br>Utilisation optimale<br>Comme si vacant<br>Comme nous l\u2019avons mentionn\u00e9<br>pr\u00e9c\u00e9demment, la parcelle en question a<br>\u00e9t\u00e9 d\u00e9lib\u00e9r\u00e9ment laiss\u00e9e vacante apr\u00e8s la<br>construction d\u2019un condominium industriel<br>l\u00e9ger (strata) au sein du complexe. Cette<br>d\u00e9cision s\u2019explique par un certain nombre<br>de facteurs. Premi\u00e8rement, l\u2019\u00e9chelle (par<br>rapport \u00e0 la demande) de l\u2019utilisation de<br>l\u2019industrie l\u00e9g\u00e8re dans le complexe de<br>condominiums (strata) a \u00e9t\u00e9 maximis\u00e9e.<br>Deuxi\u00e8mement, la demande pour d\u2019autres<br>utilisations autoris\u00e9es par le contr\u00f4le<br>de l\u2019occupation des sols, telles que les<br>commerces de d\u00e9tail et les bureaux<br>commerciaux, a diminu\u00e9 apr\u00e8s la pand\u00e9mie.<br>Par cons\u00e9quent, le seuil de faisabilit\u00e9 n\u2019a<br>pas \u00e9t\u00e9 atteint par l\u2019utilisation de locaux<br>industriels, commerciaux ou de bureaux.<br>Enfin, le site en question ne disposait<br>pas d\u2019un acc\u00e8s ind\u00e9pendant, c\u2019est-\u00e0-dire<br>qu\u2019il \u00e9tait enclav\u00e9 et ne disposait pas d\u2019un<br>stationnement sur place.<br>Toutefois, une \u00e9tude de march\u00e9 a<br>permis de d\u00e9terminer qu\u2019il existait une<br>population sikhe pr\u00e9dominante et que les<br>paroissiens sikhs de la r\u00e9gion parcouraient<br>actuellement une distance importante pour<br>se rendre \u00e0 leur lieu de culte. Dans cette<br>optique, le conseil de copropri\u00e9t\u00e9 (strata) a<br>exprim\u00e9 sa volont\u00e9 de fournir une servitude<br>permettant l\u2019acc\u00e8s au temple sikh \u00e0 travers<br>le complexe industriel \u00e0 la condition<br>que le d\u00e9veloppement soit strictement<br>r\u00e9serv\u00e9 \u00e0 un temple sikh. Par cons\u00e9quent,<br>compte tenu des limitations uniques et<br>des consid\u00e9rations d\u00e9mographiques,<br>l\u2019utilisation la plus souhaitable et la plus<br>valoris\u00e9e est celle d\u2019un temple sikh si le site<br>en question \u00e9tait hypoth\u00e9tiquement vacant<br>\u00e0 la date d\u2019\u00e9valuation.<br>Tel qu\u2019am\u00e9lior\u00e9<br>Dans cette \u00e9tude de cas particuli\u00e8re, le<br>temple sikh en question a \u00e9t\u00e9 r\u00e9cemment<br>construit. Dans une certaine mesure,<br>le recul est b\u00e9n\u00e9fique. Les registres de<br>fr\u00e9quentation confirment que le temple<br>fonctionne quotidiennement \u00e0 pleine<br>capacit\u00e9 ou presque. Au cours de la phase<br>de faisabilit\u00e9 de l\u2019analyse, il a \u00e9t\u00e9 not\u00e9 que<br>la valeur et le rendement le plus \u00e9lev\u00e9<br>des co\u00fbts de construction \u00e9taient les plus<br>importants lorsque la taille\/capacit\u00e9 du<br>b\u00e2timent \u00e9tait la plus grande possible.<br>En effet, plus le b\u00e2timent est grand, plus<br>le nombre de paroissiens susceptibles de<br>contribuer financi\u00e8rement \u00e0 l\u2019entit\u00e9 \u00e0 but<br>non lucratif propri\u00e9taire de l\u2019immeuble<br>est important. En d\u2019autres termes, les<br>\u00e9conomies d\u2019\u00e9chelle ne peuvent \u00eatre<br>r\u00e9alis\u00e9es que si les dons sont r\u00e9partis entre<br>un grand nombre de paroissiens. Cela a \u00e9t\u00e9<br>confirm\u00e9 par l\u2019examen des \u00e9tats financiers<br>de la soci\u00e9t\u00e9 \u00e0 but non lucratif. Il est clair<br>que la solvabilit\u00e9 financi\u00e8re de l\u2019association<br>\u00e0 but non lucratif est essentielle pour<br>que le bien en question continue d\u2019\u00eatre<br>exploit\u00e9 en tant que temple sikh. Par<br>cons\u00e9quent, l\u2019utilisation optimale du bien<br>tel qu\u2019am\u00e9lior\u00e9 est celui d\u2019un temple sikh<br>dans sa forme actuelle en ce qui concerne<br>la taille\/capacit\u00e9 du b\u00e2timent et la qualit\u00e9<br>des am\u00e9liorations apport\u00e9es aux<br>immobilisations, qui maximisent l\u2019attrait<br>et la valeur du bien.<br>M\u00e9thodologie d\u2019\u00e9valuation<br>L\u2019utilisation optimale \u00e9tant \u00e9tablie en<br>tant que temple sikh r\u00e9gional, l\u2019analyse<br>porte ensuite sur la d\u00e9termination de<br>la valeur du bien. \u00c0 cet \u00e9gard, il est<br>essentiel de comprendre le processus<br>de r\u00e9flexion des acheteurs potentiels<br>sur le march\u00e9 du bien en question.<br>En effet, les v\u00e9ritables \u00e9valuateurs sont<br>les acheteurs que nous, \u00e9valuateurs<br>immobiliers, devons comprendre afin de<br>communiquer leurs motivations dans un<br>rapport d\u2019\u00e9valuation. Le comportement<br>de l\u2019acheteur est pris en compte dans<br>une ou plusieurs de nos m\u00e9thodes<br>d\u2019\u00e9valuation traditionnelles : la m\u00e9thode<br>de la comparaison directe, la m\u00e9thode du<br>co\u00fbt et la m\u00e9thode du revenu.<br>M\u00e9thode de la comparaison directe<br>Si les acheteurs du segment de march\u00e9<br>concern\u00e9 doivent quantifier la valeur<br>de ce bien, quels sont les \u00e9l\u00e9ments<br>d\u2019\u00e9valuation qu\u2019ils consid\u00e8rent comme<br>pertinents? De toute \u00e9vidence, comme<br>indiqu\u00e9 pr\u00e9c\u00e9demment, un b\u00e2timent<br>plus grand aura une valeur plus \u00e9lev\u00e9e<br>car il permet de r\u00e9aliser des \u00e9conomies<br>d\u2019\u00e9chelle gr\u00e2ce \u00e0 un plus grand nombre<br>de personnes susceptibles d\u2019offrir des<br>dons \u00e0 l\u2019organisation \u00e0 but non lucratif.<br>L\u2019emplacement est \u00e9galement un facteur<br>essentiel, car le temple doit \u00eatre proche<br>de la population qu\u2019il dessert. L\u2019\u00e9tat du<br>b\u00e2timent et la qualit\u00e9 des am\u00e9liorations<br>apport\u00e9es p\u00e8sent \u00e9galement dans la<br>balance. La religion et la pratique de la foi<br>d\u2019une personne sont v\u00e9n\u00e9r\u00e9s. Cela signifie<br>que des mat\u00e9riaux de construction de<br>qualit\u00e9 et des finitions appropri\u00e9es<br>(c\u2019est-\u00e0-dire des embellissements<br>religieux) sont des \u00e9l\u00e9ments importants.<br>Ils font partie des am\u00e9liorations<br>apport\u00e9es au capital, conform\u00e9ment<br>\u00e0 la tradition des temples sikhs, et<br>contribuent ainsi \u00e0 la valeur du bien.<br>Canadian Property Valuation | \u00c9valuation 40 immobili\u00e8re au Canada Return to CONTENTS<br>Une fois ces principaux facteurs de<br>valeur identifi\u00e9s, l\u2019\u00e9tape logique suivante<br>consiste \u00e0 d\u00e9cider de la base sur laquelle<br>les \u00e9l\u00e9ments de comparaison appropri\u00e9s<br>seront s\u00e9lectionn\u00e9s. Quels types de<br>biens pourraient constituer un substitut<br>ad\u00e9quat pour un temple sikh? Le bien en<br>question n\u2019est manifestement pas un actif<br>g\u00e9n\u00e9rique qui se pr\u00eate \u00e0 la comparaison.<br>Toutefois, au lieu de s\u2019appuyer sur d\u2019autres<br>transactions relatives \u00e0 des temples sikhs,<br>qui pourraient ne pas exister, la question<br>qui se pose est la suivante : qu\u2019est-ce qu\u2019un<br>acheteur potentiel du bien en question<br>consid\u00e9rerait comme un actif alternatif<br>susceptible d\u2019\u00eatre converti en temple sikh?<br>Si nous examinons les principaux facteurs<br>de valeur &#8211; taille du b\u00e2timent, emplacement<br>et qualit\u00e9\/\u00e9tat des am\u00e9liorations apport\u00e9es<br>aux immobilisations &#8211; il devient \u00e9vident<br>que d\u2019autres actifs peuvent servir de<br>comparables de substitution. Il pourrait<br>s\u2019agir, par exemple, d\u2019une salle de banquet<br>ou d\u2019un complexe sportif.<br>En r\u00e8gle g\u00e9n\u00e9rale, ces types de<br>b\u00e2timents sont plus grands et offrent un<br>grand nombre de places de stationnement<br>en raison de la taille\/capacit\u00e9 du b\u00e2timent.<br>Dans des circonstances normales,<br>les ajustements pour les diff\u00e9rences<br>entre chaque comparable et le bien en<br>sont trait\u00e9s par le biais d\u2019une analyse<br>d\u2019appariement. Toutefois, si les donn\u00e9es du<br>march\u00e9 sont insuffisantes pour r\u00e9aliser une<br>\u00e9tude d\u2019appariement, une autre m\u00e9thode<br>consiste \u00e0 interroger les acheteurs<br>potentiels de biens immobiliers religieux et<br>\u00e0 leur demander comment ils ont d\u00e9termin\u00e9<br>la valeur au moment de l\u2019achat et sur quelle<br>base et dans quelle mesure le prix d\u2019achat<br>varierait en raison des diff\u00e9rences entre<br>un bien immobilier comparable et un bien<br>immobilier en question.<br>M\u00e9thode du co\u00fbt<br>\u00c0 premi\u00e8re vue, l\u2019application de la m\u00e9thode<br>du co\u00fbt est tr\u00e8s diff\u00e9rente de celle de<br>la m\u00e9thode de la comparaison directe.<br>Toutefois, un examen plus approfondi de<br>la relation entre ces deux m\u00e9thodes r\u00e9v\u00e8le<br>qu\u2019elles sont toutes deux bas\u00e9es sur<br>des comparaisons.<br>Plus un bien est unique, moins il est<br>probable qu\u2019il existe des comparaisons<br>g\u00e9n\u00e9riques. Si un bien est tellement<br>unique qu\u2019il n\u2019existe pas de v\u00e9ritable<br>comparaison, la \u00ab comparaison \u00bb logique<br>devient le co\u00fbt de reproduction du bien<br>en tant qu\u2019indicateur de sa valeur. Le co\u00fbt<br>de reproduction devient l\u2019\u00e9l\u00e9ment de<br>comparaison pour un acheteur potentiel.<br>Par exemple, un b\u00e2timent industriel<br>de 3,5 millions de pieds carr\u00e9s &#8211; il n\u2019y a<br>qu\u2019une poign\u00e9e de b\u00e2timents de cette<br>taille au Canada. Dans ce cas, un acheteur<br>d\u00e9terminerait, par comparaison, la<br>valeur du terrain sous-jacent, puis<br>estimerait le co\u00fbt de construction, ce qui,<br>collectivement, donnerait une somme de<br>valeur par le biais de la m\u00e9thode du co\u00fbt.<br>Plus important encore, une comparaison a<br>\u00e9t\u00e9 faite entre le bien en question et le co\u00fbt.<br>M\u00e9thode du revenu<br>Au cours de l\u2019analyse et de l\u2019\u00e9tude de<br>march\u00e9, il est apparu clairement que les<br>temples sikhs ne sont g\u00e9n\u00e9ralement pas<br>lou\u00e9s par l\u2019interm\u00e9diaire d\u2019une soci\u00e9t\u00e9<br>de gestion ou achet\u00e9s pour en tirer un<br>revenu. Au contraire, les temples sont<br>le plus souvent achet\u00e9s et d\u00e9tenus par<br>une association \u00e0 but non lucratif au<br>nom de la communaut\u00e9 sikhe pour une<br>utilisation qui n\u2019est g\u00e9n\u00e9ralement pas<br>directement associ\u00e9e \u00e0 un flux de revenus.<br>Par cons\u00e9quent, la valeur de l\u2019objet ne<br>correspond pas \u00e0 une m\u00e9thode d\u2019\u00e9valuation<br>bas\u00e9e sur le revenu.<br>Consid\u00e9rations conditionnelles<br>Bien que les conditions limitatives<br>ordinaires puissent r\u00e9pondre de mani\u00e8re<br>appropri\u00e9e \u00e0 la plupart des facteurs de<br>valeur de l\u2019objet, il convient de les mettre<br>en \u00e9vidence ici, compte tenu de leur impact<br>sur la valeur.<\/li>\n\n\n\n<li>Dans le cas du projet en question, le<br>fait qu\u2019il soit enclav\u00e9 a \u00e9t\u00e9 r\u00e9solu par un<br>accord de servitude avec l\u2019association<br>des copropri\u00e9taires (strata) des unit\u00e9s<br>industrielles du complexe. Par cons\u00e9quent,<br>la valeur du projet d\u00e9pend de l\u2019existence<br>continue et de la force ex\u00e9cutoire de<br>l\u2019accord de servitude qui fournit l\u2019acc\u00e8s et<br>le stationnement.<\/li>\n\n\n\n<li>Comme indiqu\u00e9 pr\u00e9c\u00e9demment, la<br>faisabilit\u00e9 de l\u2019objet et sa valeur durable<br>sont li\u00e9es au niveau des donations.<br>Par cons\u00e9quent, la valeur marchande<br>d\u00e9pend de la d\u00e9mographie existante qui<br>soutiendra et maintiendra une soci\u00e9t\u00e9 \u00e0<br>but non lucratif financi\u00e8rement solvable.<\/li>\n\n\n\n<li>La valeur marchande d\u00e9pend \u00e9galement<br>des conditions \u00e9conomiques qui<br>permettent aux paroissiens de disposer<br>d\u2019un revenu discr\u00e9tionnaire suffisant<br>pour faire des dons financiers \u00e0<br>l\u2019association \u00e0 but non lucratif.<br>\u25e6 La valeur du bien en objet \u00e0 travers<br>la notion de valeur d\u2019utilisation est<br>de 16 000 000 $. Si le temple sikh<br>n\u2019\u00e9tait plus demand\u00e9 ou s\u2019il \u00e9tait<br>financi\u00e8rement insolvable pour<br>quelque raison que ce soit, la valeur<br>reviendrait \u00e0 la valeur marchande<br>libre, qui a \u00e9t\u00e9 d\u00e9termin\u00e9e \u00e0 4 500 000 $<br>(valeur du terrain) moins les co\u00fbts<br>de d\u00e9molition du b\u00e2timent existant<br>du temple sikh. Par cons\u00e9quent, si<br>l\u2019utilisateur autoris\u00e9 du rapport est un<br>pr\u00eateur, la disparit\u00e9 de valeur entre<br>la valeur d\u2019utilisation et la valeur<br>marchande ouverte est une note<br>essentielle \u00e0 inclure dans le rapport<br>afin d\u2019informer le client du risque<br>potentiel futur li\u00e9 \u00e0 la dur\u00e9e de la<br>p\u00e9riode d\u2019amortissement du pr\u00eat.<br>R\u00e9sum\u00e9<br>Au d\u00e9but de cet article, j\u2019ai d\u00e9clar\u00e9 que<br>les proc\u00e9dures d\u2019\u00e9valuation de routine<br>permettaient de traiter de mani\u00e8re<br>ad\u00e9quate les questions d\u2019\u00e9valuation,<br>m\u00eame les plus uniques ou les plus difficiles,<br>et cela reste vrai. Il s\u2019agit simplement de<br>comprendre le march\u00e9 sur lequel le bien<br>en question est exploit\u00e9, ainsi que les<br>motivations et les int\u00e9r\u00eats des acheteurs<br>potentiels au sein de ce segment de<br>march\u00e9 particulier.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 41<br>Characteristics of a<br>lease renewal and lease extension<br>A resetting of rent during the term of an<br>existing space lease (i.e., part or all of a<br>building) always takes into consideration the<br>lease itself, and typically all of the subsisting<br>terms remain intact in fixing the new rent.<br>The same holds true when resetting rent for<br>a stated term under an option to extend1 an<br>existing lease.<br>An option to renew constitutes a new<br>lease, and resetting of the rent for the term<br>covered by the renewal option may or may<br>not take into account the subsisting terms of<br>the original lease.<br>There is a technical distinction between a<br>[lease] renewal and [lease] extension.<br>An extension is a stretching or spreading<br>out of the term of the lease. A renewal, on<br>the other hand, creates a new and distinct<br>tenancy and is not merely a perpetuation<br>of the old tenancy. It contemplates the<br>execution of a new lease document.2<br>In Fire Productions Ltd. v. Lauro,3 the<br>British Columbia appellate court addressed<br>the interpretation of the term \u2019fair market<br>rent\u2019 in the renewal clause of the lease:<br>\u201c\u2026 provided that the rental payable<br>under the [renewal] of the lease will<br>be the fair market rent for the Premises<br>as mutually agreed upon by the parties<br>hereto within one (1) month after the<br>giving of such notice, provided that<br>upon failure of such agreement, the<br>same will be determined by a single<br>arbitrator acting in accordance with<br>the Commercial Arbitration Act<br>(British Columbia), whose decision<br>will be binding on the parties hereto.\u201d<br>The tenant exercised a second renewal<br>option for a term of five years commencing<br>May 1, 2003. The dispute was whether the<br>tenant\u2019s leasehold improvements should be<br>considered in the rent reset analysis upon<br>\u2019renewal\u2019 of the lease. The court treated<br>the renewal option as if the premises were<br>available for lease in \u2019as is\u2019 condition (i.e., as<br>finished space) on the open market to any<br>potential third party, commenting as follows:<br>\u201cThe tenant has not been disadvantaged<br>if on exercising his right of renewal he<br>RENT RESET ISSUES<br>By TONY SEVELKA, P. App., AACI, President,<br>International Valuation Consultants Inc.<br>PART 2<br>Arbitration<br>and appraisal:<br>NOTE: Part 1 of this article appeared in Canadian Property Valuation, Volume 68, Book 1 and can be viewed online at<br>https:\/\/www.aicanada.ca\/about-aic\/canadian-property-valuation-magazine\/<br>Canadian Property Valuation | \u00c9valuation 42 immobili\u00e8re au Canada Return to CONTENTS<br>Existing use or (unrestricted)<br>highest and best use<br>A use clause in a space lease dictates the type<br>of use(s) to which the demised premises can<br>be put during the term of the lease or during<br>the period of a lease extension. However,<br>the formula or mechanism for resetting the<br>rent during the term of the lease or during<br>the period of a lease extension may have<br>no connection to what is actually permitted<br>under the use clause. Unless the language<br>of the lease has a contrary intention, the<br>appraiser should estimate rent on the basis of<br>the use(s) permitted under the use clause in<br>the existing lease.<br>If a rent reset clause in a space lease<br>stipulates that market rent be based on the<br>highest and best use4 of the space (demised<br>premises), all relevant factors, including<br>the following, should be taken into account<br>by the appraiser as of the valuation date<br>stipulated in the lease:<\/li>\n\n\n\n<li>The years remaining on the existing lease5<br>and any lease extensions unilaterally<br>exercisable by the lessee (tenant) at the<br>time of the rent reset or the period of time<br>stipulated in the rent reset clause.6<\/li>\n\n\n\n<li>The location of the space within the<br>building or complex.<\/li>\n\n\n\n<li>The type of access to the space<br>(e.g., stairs, elevator, street grade, etc.).<\/li>\n\n\n\n<li>The amount of space and its utility.<\/li>\n\n\n\n<li>The condition of the space<br>(i.e., finished or unfinished).<\/li>\n\n\n\n<li>The age and condition of the building or<br>complex housing the space.<\/li>\n\n\n\n<li>The uses permitted under the prevailing<br>land use controls, and not prohibited by any<br>restrictive covenants registered against<br>title or by covenants in other tenant leases.<\/li>\n\n\n\n<li>The market support and level of demand<br>for each permitted (viable) use.<br>A space lease (demised premises) that makes<br>no provision for parking (either onsite or<br>offsite) eliminates permitted uses dependent<br>on parking, and permitted uses that cannot<br>be accommodated within the space or within<br>the unexpired term of the lease and any lease<br>extensions are also eliminated from further<br>consideration. Likewise, any permitted<br>use that is not financially feasible given the<br>remaining term of the lease, coupled with<br>any lease extensions, is also eliminated from<br>further consideration in the highest and best<br>use analysis.<br>In McDonald\u2019s Corporation v. 1552<br>Broadway Retail Owner, LLC,7 a dispute arose<br>as to whether resetting of the rent during the<br>first five years of a 10-year Lease Extension8<br>should be based on the existing restaurant use<br>or the (unrestricted) highest and best use of<br>the \u2019demised premises\u2019 defined as follows:<br>\u201cThe demised premises consist of<br>a ground floor space [2,200 square<br>feet], basement [315 square feet] and<br>mezzanine [3,700 square feet]\u2026 \u201d<br>ng of rent for the five-year period<br>of June 1, 2014 to May 31, 2019 is<br>pursuant to the following formula as<br>set out in valuation clause 4(b)(1):<br>\u201cNinety percent (90%) of the fair<br>market rent (the \u2019FMV\u2019) for the demised<br>premises determined as of the date<br>occurring six (6) months prior to<br>June 1, 2014 [the \u2019Determination<br>Date\u2019]\u2026 The FMV shall be determined<br>on the basis of the highest and best<br>use of the demised premises and<br>considering all relevant factors.\u201d9<br>According to Article 9 of the lease, the only<br>permitted use of the demised premises is as a<br>McDonald\u2019s restaurant or another restaurant<br>that McDonald\u2019s operates.<br>In this example, the use clause is in<br>conflict with the rent reset (valuation)<br>clause, and to suggest restaurant use is the<br>only permitted use of the demised premises<br>would render the valuation clause and the<br>concept of highest and best use meaningless.<br>At the tenant\u2019s insistence, the court was<br>persuaded to intervene on a threshold issue<br>of \u2019highest and best use,\u2019 arguing that the<br>arbitration would be impracticable if the<br>parties\u2019 competing valuations were premised<br>on different concepts of value. \u2019Highest and<br>best use\u2019 is not a term typically found in rent<br>reset clauses associated with space leases<br>in a building. Also, reference in the rent reset<br>clause to fair market rent as FMV is confusing<br>on its face, as FMR is the common initialism<br>for fair market rent. A poorly drafted rent<br>reset clause can make it difficult for an<br>appraiser to determine appropriate uses<br>of the demised premises, define the type<br>of value, and apply appropriate appraisal<br>methods and techniques, and can be a<br>challenge for an arbitrator to interpret.<br>As noted by the court, \u2019highest and best<br>use\u2019 is a phrase used often in the real estate<br>industry. Determining highest and best use<br>is required to pay the rent the landlord<br>would be able to obtain if the lease<br>was not renewed. The tenant may in<br>one sense be paying interest on the<br>improvements he made, but he has the<br>continued use of the improvements,<br>which have become the property of<br>the landlord, to the end of the renewal<br>period. It is all a matter of the bargain<br>driven when the parties enter into the<br>lease and it is then essential that effect be<br>given to the wording the parties actually<br>employed to express their bargain in any<br>given instance. In this case, the bargain<br>made in terms of the renewal rent to be<br>paid favoured the landlord.\u201d<br>Nature of rent to be determined<br>In exchange for the right of a tenant to<br>occupy space on specified terms and<br>conditions, a landlord is entitled to<br>receive rent. The nature of the rent to be<br>determined for the demised premises<br>(or leased space) is defined and dictated<br>by the language of the lease, and may<br>deviate from Market Rent, which, according<br>to The Dictionary of Real Estate Appraisal,<br>7th edition, is defined as follows:<br>\u201cThe most probable rent that a property<br>should bring in a competitive and open<br>market under all conditions requisite<br>to a fair lease transaction, the lessee<br>and lessor each acting prudently and<br>knowledgeably, and assuming the<br>rent is not affected by undue stimulus.\u201d<br>Implicit in this definition is the execution<br>of a lease as of a specified date under<br>conditions whereby:<\/li>\n\n\n\n<li>Lessee and lessor are<br>typically motivated;<\/li>\n\n\n\n<li>Both parties are well informed or<br>well advised, and acting in what they<br>consider their best interests;<\/li>\n\n\n\n<li>Payment is made in terms of cash or<br>in terms of financial arrangements<br>comparable thereto; and<\/li>\n\n\n\n<li>The rent reflects specified terms and<br>conditions found in that market, such<br>as permitted uses, use restrictions,<br>expense obligations, duration,<br>concessions, rental adjustments and<br>revaluations, renewal and purchase<br>options, frequency of payments<br>(annual, monthly, etc.), and tenant<br>improvements (TIs) [p. 117].\u201d<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 43<br>Credible appraisal evidence is crucial<br>in a rent reset dispute, and each party<br>(or their legal counsel) should exercise<br>due diligence in overseeing the appraisal<br>process to provide for the following:<\/li>\n\n\n\n<li>The appraiser\u2019s overriding duty is to<br>assist the trier of fact (i.e., arbitrator,<br>arbitral panel, or court) and to<br>provide evidence that is objective<br>and non-partisan, and a statement to<br>that effect should be attached to the<br>appraisal report.<\/li>\n\n\n\n<li>The appraisal report must identify<br>the intended user, the intended use<br>(i.e., arbitration), type of value<br>(e.g., market value, market rental value)<br>and sourced definitions, effective date<br>of opinions and conclusions, and any<br>assignment conditions.13<\/li>\n\n\n\n<li>The appraisal report should include<br>detailed a curriculum vitae disclosing<br>professional qualifications and<br>emphasizing knowledge and<br>experience relevant to the valuation<br>issue(s) in dispute.<\/li>\n\n\n\n<li>The Scope of Work14 undertaken and<br>presented in the appraisal must be<br>consistent with the intended use,<br>outlining the nature and extent of the<br>research conducted in connection<br>with the rent reset assignment, and<br>reliance on reports prepared by other<br>professionals must be disclosed.<br>The appraisal report should be<br>proofread for typographical errors,<br>mathematical errors, factual omissions,<br>inconsistent statements, and inclusion<br>of privileged documents or information<br>inadmissible in a court of law such as<br>protected client-lawyer communications<br>or work product.15<\/li>\n\n\n\n<li>The appraisal report should be<br>independently reviewed before reports<br>are exchanged, and prior to submitting<br>the report to the arbitrator or arbitral<br>panel. If necessary, the appraisal report<br>should be amended to shore up any<br>weaknesses, reconcile inconsistencies,<br>and correct errors of commission or<br>omission, all to ensure compliance with<br>professional appraisal standards,16 and<br>applicable legal requirements.<\/li>\n\n\n\n<li>The appraisal report should include<br>sketches (or architectural drawings, if<br>available) and confirmed measurements<br>of the demised premises17 or premises<br>in dispute if not explicitly defined in<br>the lease or agreed to by the parties.<br>It is preferable for the parties to jointly<br>retain a qualified third-party to conduct<br>measurements of demised premises<br>in dispute prior to commencing the<br>arbitration. If the demised premises<br>include improvements or structures,<br>a building permit history and analysis<br>should be provided, if readily available.<\/li>\n\n\n\n<li>Ideally, the appraisal report should<br>include an abstract of title or parcel<br>register for each comparable sale or<br>comparable lease relied on in the rent<br>reset analysis.<\/li>\n\n\n\n<li>The appraisal should disclose and<br>analyze recent leasing activity or<br>listings of the subject and all of the<br>comparable market data relied on in<br>the rent reset analysis extending for<br>a period of time prior to the effective<br>date of the rent reset considered<br>appropriate by the appraiser.<\/li>\n\n\n\n<li>The appraisal should disclose the<br>address or legal description of<br>each comparable lease\/rental and<br>the extent of documentation and<br>verification of each comparable<br>lease\/rental relied on in the rent<br>reset analysis.<\/li>\n\n\n\n<li>The appraisal should disclose whether<br>and when a sale or lease\/rental<br>comparable has been inspected, and,<br>ideally, by whom. All photographs and<br>aerial views should be date-stamped.<\/li>\n\n\n\n<li>The reliance on published surveys<br>(e.g., land prices, rental rates, rates<br>of return, etc.) should reflect an<br>understanding as to how they<br>were conducted, for what purpose,<br>and by whom.<\/li>\n\n\n\n<li>The reliance on any assignment<br>conditions18 must not limit the scope<br>of work to such a degree that the<br>assignment results are not credible in<br>the context of the intended use, and<br>the assignment conditions must be<br>disclosed in the appraisal report.<\/li>\n\n\n\n<li>The appraisal methods and<br>techniques relied on must be<br>appropriate and properly applied,<br>consistent with the intended use of<br>the appraisal, and reflect the current<br>body of appraisal knowledge.19<br>is within the jurisdiction of the arbitrators<br>(unless the use is stipulated in the lease<br>or agreed upon by the parties). However,<br>the court ruled that the arbitrators<br>could not limit their valuation analysis<br>to the use of the demised premises as a<br>McDonald\u2019s restaurant without determining<br>whether there are more valuable uses<br>for the demised premises pursuant to the<br>language of the rent reset clause.<br>\u2019Highest and best use\u2019 analysis can<br>prove challenging in a rent reset of a<br>leasehold defined only as part of a building<br>or complex and with a fixed term under<br>single tenant occupancy. McDonald\u2019s<br>space lease, with a remaining term of<br>10 years,10 consists of 5,900 square feet<br>on two levels, street frontage of 37.75 feet<br>(midblock location), and benefits from<br>exposure to pedestrian and vehicular<br>traffic (high volume in Times Square).<br>The potential proxy tenant pool for the<br>space occupied by McDonald\u2019s is limited,<br>as space requirements vary from tenant<br>to tenant depending on the nature of the<br>business and intended use.<br>Appraisal suggestions and content<br>A lease that calls for the exchange of<br>appraisal reports by a specified date<br>requires that each party give its appraiser<br>sufficient lead time to complete the<br>appraisal in a credible and timely manner.<br>Conversely, it is equally important that<br>an appraiser retained on behalf of a party<br>involved in a rental dispute be aware of<br>and comply with contractual obligations<br>involving compliance with recognized<br>appraisal principles and standards such<br>as the Uniform Standards of Professional<br>Appraisal Practice (USPAP), Canadian<br>Uniform Standards of Professional<br>Appraisal Practice (CUSPAP), or<br>International Valuation Standards (IVS),11<br>and timely completion and delivery of<br>an appraisal report. If the appraisal is to<br>be independently reviewed,12 more lead<br>time should be set aside to commission<br>the appraisal. A lease clause or provision<br>that imposes unrealistic timeframes for<br>the preparation and exchange of appraisal<br>reports should, if possible, be renegotiated<br>or temporarily relaxed for the mutual<br>benefit of the parties before proceeding<br>to arbitration.<br>Canadian Property Valuation | \u00c9valuation 44 immobili\u00e8re au Canada Return to CONTENTS<br>rental dispute required a reasoned award,20<br>reveals the following:<\/li>\n\n\n\n<li>\u2019Sales volumes,\u201921 a fundamental metric<br>of a \u2019big box\u201922 retail operation, and the<br>typical parking ratio required to support<br>a retail operation23 are not mentioned<br>in the arbitral award, but it is unknown<br>whether this information was contained<br>in either party\u2019s appraisal report.<\/li>\n\n\n\n<li>One of the appraisals treated the<br>store and parking as two discrete<br>components, contrary to the language<br>of the lease,24 to derive a market rental<br>rate for the Premises (consisting of the<br>property as a whole), an approach<br>which is inconsistent with recognized<br>appraisal theory.<\/li>\n\n\n\n<li>In the presentation of comparable<br>lease\/rental data, the reported per<br>square foot rates are \u2019net,\u2019 but it is<br>unknown whether either party\u2019s<br>appraisal report included a cost of<br>occupancy analysis25 to account for<br>differences in operating expenses<br>between the subject Premises and each<br>comparable lease\/rental.<\/li>\n\n\n\n<li>As for the corresponding parking ratios<br>of the comparables, it is unknown<br>whether that information was provided in<br>either party\u2019s appraisal report.<\/li>\n\n\n\n<li>Although the arbitrator accepted that the<br>\u201camended use provision [in the Lease]<br>is broad enough to encompass a wide<br>variety of uses,\u201d there is no reference<br>in the decision as to the zoning of the<br>subject property (Premises) and the<br>Permitted Uses. It is unknown whether<br>either party\u2019s appraisal report contains a<br>zoning analysis of the demised premises.<\/li>\n\n\n\n<li>There is no indication which, if any, of<br>the uses reflected in the comparable<br>lease\/rental data would be permitted<br>in, or suitable for the subject Premises<br>(37,000 square feet over two levels), and<br>available for the five years remaining<br>on the term of the Lease. It is unknown<br>whether this information is contained in<br>either party\u2019s appraisal report.<\/li>\n\n\n\n<li>Only one of the rental comparables<br>(an available sublease) presented in<br>one of the party\u2019s appraisal report is for<br>a term of five years, consistent with the<br>five-year period for which the rent was to<br>be fixed, and is on two levels (13,400 sq. ft.<br>on the 1st floor, and 14,500 sq. ft. on the<br>2nd floor), as is the subject space, but it<br>was dismissed by the arbitrator as \u201cnot<br>an accurate reflection of the market.\u201d<br>There may be no reasonable basis for the<br>large divergence in the opinions of market<br>rental value, and why the arbitration should<br>have taken \u2019some 10 days\u2019 to complete is<br>not entirely clear. Neither party\u2019s opinion<br>of market rental value was accepted<br>by the arbitrator, who fixed the rent for<br>the Premises at $1,279,260. Based on<br>the entirety of the evidence presented<br>by the parties, the arbitrator identified<br>the Landlord as \u2019the prevailing party,\u2019<br>leaving the Tenant to bear the cost of<br>the arbitration, including the Landlord\u2019s<br>Costs Award of $383,000. On appeal, the<br>Tenant argued unsuccessfully against the<br>Costs Award claiming that the Awarded<br>Rent of $1,279,260 was closer to the<br>minimum \u2019Base Rent\u2019 of $1,095,030 than the<br>Landlord\u2019s settlement Offer of $1,550,000.<br>As noted by the court,<br>\u201cThe Arbitrator was entitled to<br>exercise his discretion in weighing<br>the relevant factors he considered in<br>making the Costs Award.\u201d<br>The arbitration lasted 10 days at an<br>approximate cost of $1,000,000. Both<br>parties would likely have benefited had<br>each party undertaken an independent<br>review of their own appraisal prior to<br>relying on it for the purpose of the rent<br>reset arbitration, assuming no such review<br>was undertaken.<br>Ensuring an appraisal report has<br>addressed the disputed rent reset<br>valuations issue(s) in a thorough and<br>credible manner should be of assistance<br>to each party in understanding the<br>relative merits and strength of its case<br>and assist the arbitrator or arbitral panel<br>in deciding the dispute and would reduce<br>the cost of the arbitration to both parties.<br>Arbitrators make decisions on the basis of<br>the appraisal evidence presented to them,<br>and the decisions they make are guided by<br>the completeness, accuracy, adequacy,<br>relevance, and reasonableness of the<br>appraisal reports.<br>Arbitrator rejects<br>non-compliant appraisal report<br>Presenting appraisal evidence that falls<br>short of the professional standards<br>Case study \u2013<br>Review of a rent reset arbitration award<br>In a rent reset involving a landlord and<br>Best Buy Canada Ltd. as the lessee<br>(tenant), the dispute was confined to<br>determining \u2019market rent\u2019 of a space lease<br>for five years, consisting of a 37,000 sq. ft.<br>store (occupied by Best Buy) on two levels<br>(17,385 sq. ft. on the 1st floor, and 19,598 sq.<br>ft. on the 2nd floor) and 109 surface parking<br>spaces, argued before a \u201csingle\u201d arbitrator:<br>\u201cFixed Rent for the sixteenth (16th)<br>through twentieth (20th) Lease<br>Years [June 1, 2014 \u2013 May 31, 2019]<br>(i.e., the second option period)<br>shall equal the greater of<br>(i)\u2026$1,095,030.00 per annum;<br>or (ii) the market rental value for<br>the Premises but excluding from<br>consideration, the Tenant\u2019s signs,<br>trade fixtures, furnishings and<br>interior finishes. Should the Landlord<br>and Tenant not be able to agree on<br>the market rental value in respect<br>of the Premises, the issue shall be<br>arbitrated in accordance with the<br>Arbitration Act (Ontario).\u201d<br>\u201cIn the event of any bona fide<br>dispute arising between Tenant<br>and Landlord under this Lease, the<br>dispute, at the option of Landlord or<br>Tenant will immediately be referred<br>to a single arbitrator to be agreed<br>upon by Tenant and Landlord\u2026<br>Such arbitrator, whether agreed<br>on or appointed, will have access<br>to such records of the parties as<br>are reasonably necessary and the<br>decision of such arbitrator will be<br>final and binding upon the parties.<br>The cost of the arbitration will<br>follow the award, unless otherwise<br>determined by the arbitrator.\u201d<br>At the outset of the arbitration, the<br>Landlord\u2019s appraisal estimated the annual<br>market rental value at $1,653,140, while<br>the Tenant\u2019s appraisal estimated the<br>annual market rental value as a range of<br>$662,771 to $983,232, with both appraisers<br>relying on comparable lease\/rental data.<br>Subsequent settlement offers made by<br>each party were rejected. The divergence in<br>the parties\u2019 market rental value estimates is<br>an astonishing 68% to 150%. A brief review<br>of the arbitrator\u2019s award, which in this<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 45<br>expected of a \u2019reasonable appraiser\u201926<br>and that does not follow \u2019applicable<br>appraisal principles\u2019 can cause a party to<br>sustain significant financial losses, and in<br>turn, could have unintended consequences<br>for an appraiser whose client has received<br>an unfavourable decision in an arbitration<br>as occurred in the dispute between two<br>parties over the value of an unserviced<br>84-acre parcel to be developed some<br>six to eight years in the future as a<br>residential subdivision.27<br>A retired judge presided over an 18-day<br>hearing as the sole arbitrator, and based<br>on a very detailed analysis referencing an<br>authoritative appraisal text and generally<br>accepted appraisal standards, he rejected<br>the appraisal prepared on behalf of one<br>of the parties. In effect, one party was left<br>without any appraisal evidence on which to<br>rely in support of its position. The reasoning<br>in support of the arbitrator\u2019s decision to<br>reject the appraisal is reproduced, in part,<br>as follows:<br>\u201cIn his analysis, [the] Arbitrator\u2026<br>imported and, with rigour, applied<br>a number of professional standards<br>from the Canadian Uniform Standards<br>of Professional Appraisal Practice<br>[CUSPAP] and the text The Appraisal<br>of Real Estate, 3rd Edition, Canadian<br>Edition, published by the Appraisal<br>Institute of Canada [AIC]. He reasoned<br>that the latter part of Article 9 [of the<br>Co-Tenancy Agreement] was intended<br>to make the AIC Standards and<br>principles in its text applicable to the<br>appraisals called for under the CTA.28<br>\u2026[T]he\u2026Report did not qualify as<br>an appraisal under Article 9 of the<br>CTA [Co-Tenancy Agreement]; on the<br>evidence there was no factual basis<br>for estimating the value of the land<br>using the appraisal method [Land<br>Residual Approach] chosen by\u2026 [the<br>appraiser]; and, there were errors in<br>the inputs and\/or calculations\u2026 [the<br>appraiser] had made, as reflected in<br>the detailed reasons given between<br>pages 15 and 40 of his decision.<br>\u2026[The] Arbitrator examined the<br>\u2019Land Residual Approach\u2019 said by\u2026<br>[the appraiser] to have been used to<br>determine the fair market value[29] of<br>the subject property. This approach<br>was described in the AIC text as<br>one technique of giving effect to the<br>income approach. In contradiction,<br>notes the Arbitrator, the income<br>approach was said by the appraisal<br>not to be relevant. He rejected\u2026<br>[the appraiser\u2019s] insistence that the<br>Land Residual Approach was the<br>same as the Subdivision Development<br>Approach, as being inconsistent<br>with the authoritative text\u2026 In<br>comparing\u2026 [the appraiser\u2019s]<br>report and evidence to specific A.I.C.<br>standards, [the] Arbitrator said they<br>\u201c\u2026 did not begin to comply.\u201d\u201d<br>The arbitrator informed himself as to<br>the body of knowledge articulated in<br>The Appraisal of Real Estate, and<br>the Canadian Uniform Standards of<br>Professional Appraisal Practice (CUSPAP),<br>standards to which all members of the<br>Appraisal Institute of Canada must comply.<br>It is apparent that the \u2019Land Residual<br>Approach\u2019 is not the same as the<br>\u2019Subdivision Development Approach,\u201930<br>and one is not a substitute for the other.<br>The financial losses sustained by the party<br>left without an acceptable appraisal,<br>including a reported $800,000 payment<br>of costs levied by the arbitrator, could<br>possibly have been avoided had the<br>appraisal report been independently<br>reviewed prior to the arbitration, assuming<br>no such review was undertaken. The party\u2019s<br>trust in the appraisal proved fatal. In some<br>jurisdictions, an appraiser retained as an<br>expert witness may be liable for negligence<br>in their report or testimony,31 and could<br>be held liable if the retainer agreement<br>(contract) with the client is breached and<br>results in financial losses. The appraiser\u2019s<br>work product might also lead to an<br>investigation by the umbrella organization<br>of which the appraiser is a Member.<br>Of course, before an assignment is<br>accepted, an appraiser has an obligation<br>to satisfy the competency provision as set<br>out in CUSPAP, USPAP, or IVS, depending<br>on the governing Standards.32<br>Conclusion<br>Arbitration may be preferable to court<br>proceedings as a mechanism to resolve<br>disputes over private contracts such<br>as leases, especially valuation issues<br>involving rent resets. While still<br>adversarial, arbitration is a consensual<br>and typically less formal procedure,<br>and resolution of a dispute is timely.<br>Arbitrators experienced as valuators<br>understand the appraisal process and<br>the governing appraisal standards<br>(e.g., USPAP, CUSPAP, IVS), making<br>appraisers suitably qualified to act as<br>arbitrators in rent reset disputes.<br>An arbitrator whose rent reset decision<br>rests on appraisal evidence has an<br>expectation of being able to rely on<br>credible appraisals, as does each<br>party on whose behalf the appraisal<br>has been prepared.<br>An arbitrator retained for their<br>subject matter expertise should be<br>capable of identifying both the strengths<br>and weaknesses of each party\u2019s<br>appraisal evidence, while performing<br>the arbitral duties in a neutral manner<br>and in accordance with the arbitration<br>agreement and arbitration act governing<br>the geographic location of the demised<br>premises. Depending on the jurisdiction<br>in which the property is located, the<br>complexity of the valuation issue(s),<br>or the amount of rent in dispute, it may<br>be appropriate for each party to have<br>its own appraisal report independently<br>reviewed by a qualified appraiser prior<br>to the arbitration, and address any<br>shortcomings warranting revisions to<br>the appraisal report. A party\u2019s failure to<br>have its own appraisal independently<br>reviewed prior to acting upon it could<br>prove to be a costly oversight.<br>Arbitrators exercise wide discretion<br>as to how they weigh appraisal<br>evidence, and appraisal evidence that<br>is credible will carry more weight.<br>Valuations at the extremes do little to<br>enhance the credibility of the appraisal<br>profession. Arbitration awards are final<br>and binding,33 absent any extremely<br>limited irregularities. Accordingly, each<br>party should exercise due diligence in<br>formulating an appropriate appraisal<br>strategy in anticipation of a rent reset<br>arbitration. Rent reset arbitrations can<br>be costly, but an effective pre-arbitration<br>appraisal strategy will shorten the<br>duration of the arbitration and likely result<br>in substantial cost savings to both parties.<br>Canadian Property Valuation | \u00c9valuation 46 immobili\u00e8re au Canada Return to CONTENTS<br>End notes<br>1 According to The Dictionary of Real Estate<br>Appraisal, 7th ed., an option to extend<br>a lease is synonymous with the term<br>\u2019renewal option,\u2019 defined as \u201can agreement<br>entered into at the time of the original<br>lease providing the tenant with the right,<br>but not the obligation, to extend the lease<br>term for a specified time at a rent specified<br>in the option agreement or at the market<br>rate at the time of renewal.\u201d<br>2 See 10 Miller &amp; Starr, Cal. Real Estate<br>(4th ed. 2020). Landlord and Tenant,<br>\u2019Renewal\u2019 and \u2019extension\u2019 distinguished<br>\u00a734.73 (Miller &amp; Starr)<br>3 Fire Productions Ltd. V. Laura, 2006 BCCA<br>497 (CanLII), <a href=\"http:\/\/canlii.ca\/t\/1q1r7\">http:\/\/canlii.ca\/t\/1q1r7<\/a>,<br>retrieved on 22 November 2023.<br>4 \u2019Highest and best use\u2019 is \u201cThe reasonably<br>probable use of property that results<br>in the highest value [and] [t]he four<br>criteria that\u2026must be me[t] are legal<br>permissibility, physical possibility,<br>financial feasibility, and maximum<br>productivity,\u201d The Dictionary of Real<br>Estate Appraisal, 7th ed., p. 88. For a<br>discussion of \u2019highest and best use\u2019<br>involving ground leases see \u2019Ground<br>Leases: Rent Reset Valuation Issues,\u2019 The<br>Appraisal Journal, (Fall 2011), p. 316-317.<br>5 An early termination clause exercisable<br>at the discretion of the owner (landlord)<br>effectively reduces the remaining term of<br>the lease for the purpose of a rent reset,<br>and has an impact on highest and best<br>use analysis, resulting in a lower rent for<br>the rent reset period. To achieve a higher<br>rent, it is in the best interest of the owner<br>(landlord) to waive the early termination<br>clause for the purpose of resetting the rent<br>for the period covered by the rent reset.<br>6 In Galvano Enterprises Limited v. Orionvink<br>BV, [1999] NICA 11, at each rent reset date<br>of the 25-year term of the space lease<br>rent is to be fixed \u201cfor a term equal to,<br>whichever is the greater of, the period of<br>15 years or the remainder of the Term.\u201d<br>7 McDonald\u2019s Corporation v. 1552<br>Broadway Retail Owner, LLC, 2017 NY<br>Slip Op 50011(U) \u2013 NY: Supreme Court,<br>2017, https:\/\/static.schlamstone.com\/<br>docs\/1552-Broadway-Retail-Owner-<br>LLC-v-McDonalds-Corporation-2017-<br>NY-Slip-Op-50011U.pdf retrieved on 11<br>November 2023.<br>8 Pursuant to the Lease, the rent in<br>years 6-10 is to be 115% of the rent<br>fixed during years 1-5 of the 10-year<br>Lease Extension.<br>9 Highest and best use in the context of<br>estimating market rent of a space lease<br>should consider reasonably probable<br>uses permitted under the prevailing land<br>use controls supported by an investment<br>horizon or holding period of 10 years,<br>consistent with the term of the lease<br>extension and lease expiry, as of the<br>valuation or rent reset date stipulated in<br>the lease. In other words, prospective<br>retail\/commercial tenants requiring<br>more than 10 years recouping their<br>investment in the business and leasehold<br>improvements should be disregarded<br>in the highest and best use analysis.<br>Certainly, the remaining term of the<br>lease, i.e., the 10-year lease extension<br>and lease expiry of May 31, 2024, is a<br>\u2019relevant factor\u2019 in the highest and best<br>use analysis.<br>10 In United Equities, Inc. V. Mardordic<br>Co., 8 AD 2d 398 (1st Dept. 1959), affd<br>7 N.Y. 2d 911 (1960), the court ruled<br>that consideration must be given to the<br>term of the rent reset (21 years) and the<br>renewal option (21 years), or 42 years<br>in total, in determining \u201cthe best use to<br>which the land can be put and not limited<br>to improvement as a garage,\u201d para.<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li>With rent fixed for only 21 years,<br>redevelopment options may be impacted<br>by mortgage financing constraints.<br>11 In Westnay Container Services Ltd. V.<br>Freeport Properties Ltd., 2009 BCSC 184<br>(CanLII), the arbitrator rejected a twostep<br>procedure (i.e., estimated property<br>value times estimated rate of return)<br>in favour of an estimated lease rate<br>applied directly to the demised premises<br>in resetting the rent. The rationale<br>for resorting to indirect methods of<br>estimating rent should be adequately<br>explained in the appraisal report.<br>12 Appraisal Review requirements are<br>covered under Standard 3 and Reporting<br>Standard 4 of USPAP; Standards Rule<br>10 and 11, and Reporting Standards 6<br>and 7 of CUSPAP; and Section 6 under<br>Professional Standard 2 of the RICS<br>Valuation \u2013 Global Standards, effective<br>January 31, 2022.<br>13 See \u2019Identification of the Appraisal<br>Problem,\u2019 The Appraisal of Real Estate,<br>15th ed., p. 30.<br>14 CUSPAP (effective January 1, 2024)<br>3.72 defines Scope of Work as \u201c[t]he<br>type of Inspection, the type and extent<br>of research and analysis required, any<br>limitations, or other terms to fulfill the<br>Authorized Assignment. The Scope of<br>Work for an Assignment is determined by<br>the Member\u2019s compliance to CUSPAP and<br>applicable legislation. [see 6.2.4, 7.5, 7.6]<br>15 The rules of privilege are matters of<br>public policy that are to be enforced<br>in arbitration just as they would be in<br>litigation, p. 4; \u2019Best Practices Regarding<br>Evidence in Arbitrations,\u2019 American<br>College of Trial Lawyers, Alternative<br>Dispute Resolution Committee, February<br>2018, https:\/\/www.actl.com\/docs\/<br>default-source\/alternative-disputeresolution-<br>committee\/adr_best_<br>practices_regarding_evidence_in_<br>arbitrations.pdf?sfvrsn=2.<br>16 Compliance with CUSPAP, USPAP,<br>or IVS, depending on the laws in the<br>jurisdiction in which the property<br>is located, and, if a member of a<br>professional organization, compliance<br>with their rules and regulations.<br>17 Demised premises are defined as \u201c[p]<br>roperty that is leased to a person or<br>entity for s specific period of time\u2026,\u201d The<br>Dictionary of Real Estate Appraisal, 7th ed.<br>(Chicago: Appraisal Institute, 2022), 51.<br>18 USPAP defines Assignment Conditions<br>as \u201cassumptions, extraordinary<br>assumptions, hypothetical conditions,<br>laws and regulations, jurisdictional<br>exceptions, and other conditions that<br>affect the scope of work. Laws include<br>constitutions, legislative and courtmade<br>law, administrative rules, and<br>ordinances. Regulations include rules or<br>orders, having legal force, issued by an<br>administrative agency.\u201d<br>19 References to outdated appraisal texts<br>should be avoided. Quoting from outdated<br>appraisal texts may be a sign of indifference<br>to the profession expanding its body of<br>knowledge or his or her own knowledge,<br>especially if the appraiser\u2019s curriculum<br>vitae fails to demonstrate the knowledge<br>and experience necessary to complete an<br>assignment for its intended use.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 47<br>20 References to outdated appraisal<br>texts should be avoided. Quoting from<br>outdated appraisal texts may be a<br>sign of indifference to the profession<br>expanding its body of knowledge or<br>his or her own knowledge, especially<br>if the appraiser\u2019s curriculum vitae<br>fails to demonstrate the knowledge<br>and experience necessary to<br>complete an assignment for its<br>intended use.<br>21 In 2009, at the time of the previous<br>rent reset, the Best Buy brand<br>averaged sales of $877 per sq.<br>ft. based on 1,023 stores and an<br>average store size of 39,000 sq. ft.<br>In 2014, Best Buy\u2019s average store<br>size was 27,400 sq. ft., and sales<br>volume averaged $770 per sq. ft.<br>based on 1,779 stores, https:\/\/retailindex.<br>emarketer.com\/company\/<br>data\/5374f24e4d4afd2bb4446640\/<br>5374f25d4d4afd824cc1564d\/lfy\/<br>false\/best- buy-real-estate<br>[accessed 27 November 2023].<br>According to CBRE\u2019s July 13, 2015<br>Marketflash (Money Talks: Retail<br>Sales Productivity Show Divergence<br>in Performance), Best Buy Co. Inc.\u2019s<br>(Future Shop, Best Buy, Best Buy<br>Mobile) sales productivity in<br>Canada averaged $800 per sq. ft.<br>in 2013.<br>22 \u2019A single-use store, typically between<br>10,000 and 100,000 square feet or<br>more, such as a large bookstore,<br>office-supply store, pet store,<br>electronics store, or toy store (ICSC)\u2019<br>Dictionary of Real Estate, 7th ed. p. 18.<br>The typical lease term for a \u2019Big Box\u2019<br>store is 20 years, often structured<br>as an initial term of 10 years at fixed<br>rental rates with two five-year lease<br>extensions or options to renew, also<br>at fixed rental rates.<br>23 A typical parking ratio for a \u2019big box\u2019<br>retailer is between 4.5 and 5.5 stalls<br>per 1,000 sq. ft. of Gross Leaseable<br>Area (GLA). The subject Premises<br>has a parking ratio of 2.87 stalls per<br>1,000 sq. ft. of GLA, which may be<br>appropriate given that the store is<br>located in a densely populated urban<br>area on a subway line in midtown<br>Toronto, Ontario.<br>24 The parking component is operated<br>by a third party on behalf of the tenant<br>under a License Agreement with the<br>tenant. A \u2019license\u2019 is not an interest in<br>land, and The Dictionary of Real Estate,<br>7th ed., defines \u2019license\u2019 as \u201c[f]or real<br>property, a personal, unassignable, and<br>typically revocable privilege or permit<br>to perform some activity on the land of<br>another without obtaining an interest<br>in the property.\u201d [p. 108] In 12400<br>Stowe Drive, LP v. Cycle Express, LLC,<br>Cal: Court of Appeals, 4th Appellate<br>District, Division One, the \u2019Premises\u2019<br>consist of a 133,125 sq. ft. industrial<br>building on a 297,505 sq. ft. site and an<br>adjoining 112,830 sq. ft. vacant lot used<br>for customer parking during auctions,<br>as no off-site parking is permitted.<br>In resetting the rent for the five-year<br>lease extension, the court found in<br>favor of the tenant\u2019s appraisal, which<br>estimated the market rental value of the<br>two components as one \u2019collective unit\u2019<br>at $106,500 per month, based on the<br>conditions and restrictions contained<br>in the Lease. The landlord\u2019s appraisal<br>valued each component separately in<br>its highest and best use and arrived<br>at a combined market rental value of<br>$138,270 per month.<br>25 Tenants are concerned about<br>Occupancy Cost, which \u201c\u2026constitute<br>the rent and reimbursables (expense<br>reimbursements to the landlord as<br>specified in the lease), which may<br>include items such as heat, utilities,<br>janitor service, taxes not included<br>in the rent, and amortization of the<br>tenant\u2019s cost of alterations over the<br>term of the lease.\u201d The Dictionary of<br>Real Estate, 7th ed., p. 134.<br>26 CUSPAP 3.64 defines \u2019Reasonable<br>Appraiser\u2019 as \u201c[a] Member providing<br>Professional Services within an<br>acceptable standard of care and<br>based on rational assumptions.<br>[see 4.2.5, 7.1.2, 9.9]<br>27 On the facts of the case, the<br>arbitrator concluded that the<br>Subdivision Development Approach<br>had no application.<br>28 Under the CTA, the appraisals had to be<br>prepared by designated \u2019AACI\u2019 members<br>of the Appraisal Institute of Canada.<br>29 The Dictionary of Real Estate, 6th<br>ed., 2015, defines \u201cfair market value,<br>in nontechnical usage, a term that<br>is equivalent to the contemporary<br>usage of market value.\u201d The 7th ed.,<br>2022, defines \u201cfair market value,<br>in nontechnical usage, a term that<br>is generally synonymous with the<br>contemporary usage of market value.\u201d<br>30 According to The Appraisal of Real<br>Estate \u2019Third Canadian Edition, 2010,\u2019<br>[t]he land residual technique is a<br>method of estimating land value<br>in which the net operating income<br>attributable to the land is isolated and<br>capitalized to produce an indication<br>of the land\u2019s contribution to the<br>total property,\u201d [p. 16.12] which<br>differs from the steps involved in<br>\u201csubdivision development analysis.\u201d<br>See Subdivision Valuation, 2nd ed.,<br>\u00a9 2017, Appraisal Institute, Chapter<br>11 (Land Value Using the Subdivision<br>Development Method).<br>31 In Canada, an expert witness that<br>\u201cprovides evidence that was useless\u201d<br>to the client and to the court (arbitrator<br>or arbitral panel) is entitled to \u201cexpert<br>witness immunity.\u201d (See The 6th Line<br>Mofos Limited v. Stewart 2022 ONSC<br>520). In the United States, some<br>jurisdictions do not permit a party to<br>sue its own expert witness. In Florida,<br>an expert in an arbitration hearing<br>may not rely on the statutory immunity<br>granted to arbitrators and may be sued<br>for negligence. Fla. Stat. \u00a7682.0 51<br>(2016) created statutory immunity for<br>arbitrators, and immunity has never<br>been expressly expanded to include<br>experts. (Brian C. Willis, \u201cResolving<br>\u2019Disputes By Expert Determination:<br>What Happens When Parties<br>Select Appraisers, Accountants, Or<br>Other Technical Experts To Decide<br>Disputes,\u2019) Florida Bar Journal, Vol.<br>91, No. 7 July\/Aug 2017, p. 35, https:\/\/<br>www.floridabar.org\/the-florida-barjournal\/<br>resolving, accessed on 14<br>November 2023. In the United Kingdom,<br>in the decision of the Supreme Court in<br>Jones v. Kaney, [2011] UKSC 13, \u201cexpert<br>witness immunity\u201d was abolished for a<br>party suing its own expert in a claim<br>for negligence.<br>Canadian Property Valuation | \u00c9valuation 48 immobili\u00e8re au Canada Return to CONTENTS<br>32 Peter T. Christensen, \u2019Averting Professional<br>Liability Claims, Essential guidelines for<br>appraisers serving as expert witnesses,\u2019<br>Right of Way (November\/December<br>2016): 24-27, https:\/\/www.liability.com\/<br>publications\/2016\/averting-professionalliability-<br>claims.aspx, accessed on 20<br>November 2023.<br>33 \u201cArbitrators are judges chosen by the parties<br>to decide the matters submitted to them,<br>finally and without appeal. As a mode of<br>settling disputes, it should receive every<br>encouragement from courts of equity. If the<br>award is within the submission, and contains<br>the honest decision of the arbitrators, after<br>a full and fair hearing of the parties, a court<br>of equity will not set it aside for error, either<br>in law or fact.\u201d Burchell v. Marsh, 58 US 344<br>(1854) 17 How.344.<br>References<br>Blankley, K. M. (2014). Lying, Stealing,<br>and Cheating: The Role of Arbitrators<br>as Ethics Enforcers. University of<br>Louisville Law Review, 443-496.<br>Retrieved from http:\/\/digitalcommons.<br>unl.edu\/cgi\/viewcontent.<br>cgi?article=1180&amp;context=lawfacpub.<br>Celik, D. D. (2013). Judicial Review<br>under the UK and US Arbitration Acts:<br>Is Arbitration a Better Substitute for<br>Litigation? IALS Student Law Review,<br>1(1), 13-25. Retrieved from https:\/\/<br>sas-space.sas.ac.uk\/5237\/1\/1702-2275-<br>1-PB.pdf.<br>Chalk, J. A. (2019). Award Writing: Clear,<br>Concise, and Complete. State Bar of<br>Texas, Arbitration Strategies: Taking<br>your Practice to the Next Level, Chapter<br>4, Austin, March 27, 2019. Retrieved<br>from https:\/\/www.whitakerchalk.<br>com\/wp-content\/uploads\/2020\/02\/<br>Chalk-Award-Writing-Clear-Concise-<br>Complete.pdf<br>Kirchner, R. J. (2014). Land Rent Reset<br>Arbitration in Hawaii: Credibility and<br>Transparency. The Appraisal Journal,<br>2014(Fall), 308-317.<br>Sevelka, T. (2011). Ground Leases: Rent<br>Reset Valuation Issues. The Appraisal<br>Journal, 2011(Fall), 314-326.<br>Sevelka, T. (2020). Long-Term Leases:<br>Rent Reset Analysis. The Appraisal<br>Journal, 2020(Winter), 30-41.<br>Sorenson, R. C. (2010). Appraising the<br>Appraisal: The Art of Appraisal Review,<br>2nd ed., Chicago, USA: Appraisal Institute.<br>Konikoff, P. K. (2022). Appraisers in<br>Arbitration, Second Edition. Chicago,<br>USA: Appraisal Institute.<br>Thayer, D., &amp; Smith, M.K.L. (2012). Binding<br>mediation, a trap for the unwary. THE<br>RECORDER, 136(31), July 30, 2012.<br>Retrieved from https:\/\/jenner.com\/<br>system\/assets\/publications\/10484\/<br>original\/501081203_Jenner_.<br>pdf?1348064604[accessed on 23<br>November 2023].<br>Carneghi, C. (1999). Appraisal Arbitration:<br>The Role of the Real Estate Appraiser in<br>Resolving Value Disputes. The Appraisal<br>Journal, 1999(April), 119-125.<br>OUR VISION<br>To be the most trusted association of<br>residential appraisal firms in Canada.<br>OUR MANDATE<br>BAREA protects and promotes the<br>business interests of our member firms<br>through a strong and cohesive voice<br>as well as the sharing of best practices.<br>Business Association of Real Estate Appraisers<br>Stronger together<br>DON\u2019T GO IT ALONE<br>OUR VISION<br>To be the most trusted association of<br>residential appraisal firms in Canada.<br>OUR MANDATE<br>BAREA protects and promotes the<br>business interests of our member firms<br>through a strong and cohesive voice<br>as well as the sharing of best practices.<br>Business Association of Real Estate Appraisers<br>barea.ca<br>Stronger together<br>DON\u2019T GO IT ALONE<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 49<br>Caract\u00e9ristiques d\u2019un renouvellement<br>et d\u2019une prolongation de bail<br>Une r\u00e9\u00e9valuation du loyer pendant la dur\u00e9e<br>d\u2019un bail portant sur des locaux existants<br>(c\u2019est-\u00e0-dire une partie ou la totalit\u00e9 d\u2019un<br>b\u00e2timent) prend toujours en consid\u00e9ration le<br>bail lui-m\u00eame et, en r\u00e8gle g\u00e9n\u00e9rale, toutes les<br>conditions en vigueur restent intactes lors de<br>la fixation du nouveau loyer. Il en va de m\u00eame<br>lorsqu\u2019il s\u2019agit de fixer un nouveau loyer pour<br>une dur\u00e9e d\u00e9termin\u00e9e dans le cadre d\u2019une<br>option de prolongation1 d\u2019un bail existant.<br>Une option de renouvellement constitue<br>un nouveau bail, et la r\u00e9\u00e9valuation du loyer<br>pour la p\u00e9riode couverte par l\u2019option de<br>renouvellement peut ou non tenir compte<br>des conditions subsistantes du bail initial.<br>QUESTIONS RELATIVES \u00c0<br>LA R\u00c9INITIALISATION DES LOYERS<br>Par TONY SEVELKA, \u00c9. Pro., AACI, Pr\u00e9sident,<br>International Valuation Consultants Inc.<br>Arbitrage<br>et \u00e9valuation :<br>Il existe une distinction technique entre<br>le renouvellement et la prolongation d\u2019un<br>bail. Une prolongation est un allongement<br>de la dur\u00e9e du bail. Un renouvellement, en<br>revanche, cr\u00e9e un nouveau bail distinct et<br>n\u2019est pas simplement une perp\u00e9tuation de<br>l\u2019ancien bail. Il implique la signature d\u2019un<br>nouveau document de bail.2<br>Dans l\u2019affaire Fire Productions Ltd. c. Lauro,3<br>la cour d\u2019appel de la Colombie-Britannique s\u2019est<br>pench\u00e9e sur l\u2019interpr\u00e9tation de l\u2019expression<br>\u00ab fair market rent \u00bb (loyer \u00e9quitable) dans la<br>clause de renouvellement du bail :<br>\u00ab \u2026 \u00e0 condition que le loyer payable<br>en vertu du [renouvellement] du bail<br>soit le loyer du march\u00e9 pour les locaux<br>tel que mutuellement convenu par les<br>parties aux pr\u00e9sentes dans un d\u00e9lai d\u2019un<br>(1) mois apr\u00e8s la remise de ce pr\u00e9avis,<br>\u00e0 condition qu\u2019\u00e0 d\u00e9faut d\u2019un tel accord,<br>celui-ci soit d\u00e9termin\u00e9 par un arbitre<br>unique agissant conform\u00e9ment au<br>Commercial Arbitration Act (Colombie-<br>Britannique), dont la d\u00e9cision sera<br>contraignante pour les parties aux<br>pr\u00e9sentes. \u00bb (Traduction)<br>Le locataire a exerc\u00e9 une deuxi\u00e8me option de<br>renouvellement pour une dur\u00e9e de cinq ans<br>\u00e0 compter du 1er mai 2003. Le litige portait<br>sur la question de savoir si les am\u00e9liorations<br>locatives du locataire devaient \u00eatre prises en<br>compte dans l\u2019analyse de la revalorisation<br>du loyer au moment du \u00ab renouvellement \u00bb<br>du bail. Le tribunal a trait\u00e9 l\u2019option de<br>PARTIE 2<br>NOTE : La premi\u00e8re partie de cet article a \u00e9t\u00e9 publi\u00e9e dans le volume 68 d\u2019\u00c9IC, tome 1 et peut \u00eatre consult\u00e9e en ligne \u00e0 l\u2019adresse suivante<br>https:\/\/www.aicanada.ca\/about-aic\/canadian-property-valuation-magazine\/<br>Canadian Property Valuation | \u00c9valuation 50 immobili\u00e8re au Canada Return to CONTENTS<br>renouvellement comme si les locaux \u00e9taient<br>disponibles \u00e0 la location \u00ab en l\u2019\u00e9tat \u00bb<br>(c\u2019est-\u00e0-dire en tant qu\u2019espace fini) sur le<br>march\u00e9 libre \u00e0 toute tierce partie potentielle,<br>en commentant comme suit :<br>\u00ab Le locataire n\u2019est pas d\u00e9savantag\u00e9<br>si, en exer\u00e7ant son droit de<br>renouvellement, il doit payer le loyer<br>que le propri\u00e9taire pourrait obtenir si le<br>bail n\u2019\u00e9tait pas renouvel\u00e9. Le locataire<br>peut en un sens payer des int\u00e9r\u00eats sur<br>les am\u00e9liorations qu\u2019il a apport\u00e9es,<br>mais il peut continuer \u00e0 utiliser les<br>am\u00e9liorations, qui sont devenues la<br>propri\u00e9t\u00e9 du bailleur, jusqu\u2019\u00e0 la fin de<br>la p\u00e9riode de renouvellement. Tout<br>d\u00e9pend du march\u00e9 conclu par les<br>parties lors de la signature du bail et<br>il est essentiel de tenir compte de la<br>formulation utilis\u00e9e par les parties<br>pour exprimer leur march\u00e9 dans un<br>cas donn\u00e9. En l\u2019esp\u00e8ce, le march\u00e9<br>conclu en ce qui concerne le loyer de<br>renouvellement \u00e0 payer a favoris\u00e9 le<br>bailleur \u00bb. (Traduction)<br>Nature du loyer \u00e0 d\u00e9terminer<br>En \u00e9change du droit d\u2019un locataire d\u2019occuper<br>un espace \u00e0 des conditions sp\u00e9cifiques, le<br>propri\u00e9taire a le droit de percevoir un loyer.<br>La nature du loyer \u00e0 d\u00e9terminer pour les<br>locaux lou\u00e9s (ou l\u2019espace lou\u00e9) est d\u00e9finie et<br>dict\u00e9e par le libell\u00e9 du bail et peut s\u2019\u00e9carter<br>du loyer de march\u00e9 qui, selon le Dictionary<br>of Real Estate Appraisal, 7e \u00e9dition, est d\u00e9fini<br>comme suit :<br>\u00ab Le loyer le plus probable qu\u2019un bien<br>immobilier devrait rapporter sur un<br>march\u00e9 concurrentiel et ouvert, dans<br>toutes les conditions requises pour une<br>transaction de location \u00e9quitable, le<br>locataire et le bailleur agissant chacun<br>avec prudence et en connaissance de<br>cause, et en supposant que le loyer n\u2019est<br>pas influenc\u00e9 par des stimuli injustifi\u00e9s. \u00bb<br>(Traduction) Cette d\u00e9finition implique<br>implicitement l\u2019ex\u00e9cution d\u2019un bail<br>\u00e0 partir d\u2019une date pr\u00e9cise dans des<br>conditions d\u00e9termin\u00e9es voulant que :<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>le locataire et le bailleur soient<br>g\u00e9n\u00e9ralement motiv\u00e9s ;<\/li>\n\n\n\n<li>les deux parties soient bien<br>inform\u00e9es ou bien conseill\u00e9es, et<br>agissent dans ce qu\u2019elles consid\u00e8rent<br>\u00eatre leur meilleur int\u00e9r\u00eat ;<\/li>\n\n\n\n<li>le paiement soit effectu\u00e9 en esp\u00e8ces<br>ou selon des modalit\u00e9s financi\u00e8res<br>comparables ; et<\/li>\n\n\n\n<li>le loyer refl\u00e8te les conditions<br>sp\u00e9cifiques du march\u00e9, telles<br>que les utilisations autoris\u00e9es,<br>les restrictions d\u2019utilisation, les<br>obligations de d\u00e9penses, la dur\u00e9e,<br>les concessions, les ajustements de<br>loyer et les r\u00e9\u00e9valuations, les options<br>de renouvellement et d\u2019achat, la<br>fr\u00e9quence des paiements (annuels,<br>mensuels, etc.) et les am\u00e9liorations<br>locatives [p. 117] \u00bb.<br>Utilisation existante ou utilisation optimale<br>(sans restriction)<br>Une clause d\u2019utilisation dans un bail<br>de locaux dicte le type d\u2019utilisation des<br>locaux lou\u00e9s pendant la dur\u00e9e du bail ou<br>pendant la p\u00e9riode de prolongation du bail.<br>Cependant, la formule ou le m\u00e9canisme<br>de r\u00e9initialisation du loyer pendant la<br>dur\u00e9e du bail ou pendant la p\u00e9riode de<br>prolongation du bail peut n\u2019avoir aucun lien<br>avec ce qui est effectivement autoris\u00e9 par<br>la clause d\u2019utilisation. \u00c0 moins que le libell\u00e9<br>du bail n\u2019indique une intention contraire,<br>l\u2019\u00e9valuateur doit estimer le loyer sur la base<br>de l\u2019utilisation ou des utilisations autoris\u00e9es<br>par la clause d\u2019utilisation du bail existant.<br>Si une clause de r\u00e9initialisation du<br>loyer dans un bail portant sur des locaux<br>stipule que le loyer du march\u00e9 est bas\u00e9 sur<br>l\u2019utilisation optimale4 de l\u2019espace (locaux<br>lou\u00e9s), l\u2019\u00e9valuateur doit tenir compte de<br>tous les facteurs pertinents, y compris<br>les suivants, \u00e0 la date d\u2019\u00e9valuation stipul\u00e9e<br>dans le bail :<\/li>\n\n\n\n<li>Le nombre d\u2019ann\u00e9es restant \u00e0 courir sur<br>le bail existant5 et toute extension de bail<br>pouvant \u00eatre exerc\u00e9e unilat\u00e9ralement par<br>le preneur (locataire) au moment de la<br>r\u00e9initialisation du loyer ou de la p\u00e9riode<br>de temps stipul\u00e9e dans la clause de<br>r\u00e9initialisation du loyer.6<\/li>\n\n\n\n<li>La localisation de l\u2019espace dans le<br>b\u00e2timent ou le complexe.<\/li>\n\n\n\n<li>Le type d\u2019acc\u00e8s \u00e0 l\u2019espace (par exemple,<br>escaliers, ascenseurs, niveau de la<br>rue, etc.).<\/li>\n\n\n\n<li>La superficie de l\u2019espace et son utilit\u00e9.<\/li>\n\n\n\n<li>L\u2019\u00e9tat de l\u2019espace (fini ou non fini).<\/li>\n\n\n\n<li>L\u2019\u00e2ge et l\u2019\u00e9tat du b\u00e2timent ou du complexe<br>qui abrite l\u2019espace.<\/li>\n\n\n\n<li>Les utilisations autoris\u00e9es par les contr\u00f4les<br>d\u2019occupation des sols en vigueur, et non<br>interdites par des clauses restrictives<br>enregistr\u00e9es sur le titre de propri\u00e9t\u00e9 ou<br>par des clauses figurant dans les baux<br>d\u2019autres locataires.<\/li>\n\n\n\n<li>Le soutien du march\u00e9 et le niveau<br>de la demande pour chaque usage<br>autoris\u00e9 (viable).<br>Un bail d\u2019espace (locaux lou\u00e9s) qui ne pr\u00e9voit<br>pas de stationnement (sur site ou hors site)<br>\u00e9limine les usages autoris\u00e9s qui en d\u00e9pendent,<br>et les usages autoris\u00e9s qui ne peuvent pas \u00eatre<br>accueillis dans l\u2019espace ou pendant la dur\u00e9e<br>non \u00e9coul\u00e9e du bail et de toute prolongation<br>du bail sont \u00e9galement \u00e9limin\u00e9s. De m\u00eame,<br>toute utilisation autoris\u00e9e qui n\u2019est pas<br>financi\u00e8rement r\u00e9alisable compte tenu de la<br>dur\u00e9e restante du bail et de ses \u00e9ventuelles<br>prolongations est \u00e9galement exclue de<br>l\u2019analyse de l\u2019utilisation optimale.<br>Dans l\u2019affaire McDonald\u2019s Corporation<br>c. 1552 Broadway Retail Owner, LLC,7 un<br>litige est apparu sur la question de savoir si<br>la r\u00e9initialisation du loyer au cours des cinq<br>premi\u00e8res ann\u00e9es d\u2019une prolongation de bail<br>de 10 ans8 devait \u00eatre bas\u00e9e sur l\u2019utilisation<br>existante du restaurant ou sur l\u2019utilisation<br>optimale (sans restriction) des \u00ab locaux<br>d\u00e9molis\u00bb d\u00e9finis comme suit :<br>\u00ab Les locaux lou\u00e9s se composent d\u2019un<br>rez-de-chauss\u00e9e [2 200 pieds carr\u00e9s],<br>d\u2019un sous-sol [315 pieds carr\u00e9s] et d\u2019une<br>mezzanine [3 700 pieds carr\u00e9s] \u2026 \u00bb<br>La fixation du loyer pour la p\u00e9riode de<br>5 ans allant du 1er juin 2014 au 31 mai<br>2019 se fait selon la formule suivante,<br>telle qu\u2019elle figure dans la clause<br>d\u2019\u00e9valuation 4(b)(1) :<br>\u00ab Quatre-vingt-dix pour cent (90 %)<br>du loyer de march\u00e9 \u00e9quitable (le \u00ab FMV \u00bb)<br>pour les locaux lou\u00e9s, d\u00e9termin\u00e9 \u00e0 la<br>date survenant six (6) mois avant le 1er<br>juin 2014 [la \u00ab date de d\u00e9termination \u00bb]<br>\u2026.Le FMV sera d\u00e9termin\u00e9 sur la base de<br>l\u2019utilisation optimale des locaux lou\u00e9s et<br>en tenant compte de tous les facteurs<br>pertinents. \u00bb.9(Traduction)<br>Selon l\u2019article 9 du bail, la seule utilisation<br>autoris\u00e9e des locaux lou\u00e9s est celle d\u2019un<br>restaurant McDonald\u2019s ou d\u2019un autre restaurant<br>exploit\u00e9 par McDonald\u2019s.<br>Dans cet exemple, la clause d\u2019utilisation est<br>en conflit avec la clause de r\u00e9initialisation du<br>loyer (\u00e9valuation), et sugg\u00e9rer que l\u2019utilisation<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 51<br>en tant que restaurant est la seule autoris\u00e9e<br>pour les locaux lou\u00e9s viderait de son sens la<br>clause d\u2019\u00e9valuation et le concept d\u2019utilisation<br>optimale. Sur l\u2019insistance du locataire, le<br>tribunal a \u00e9t\u00e9 persuad\u00e9 d\u2019intervenir sur la<br>question de l\u2019\u00ab utilisation optimale \u00bb, arguant<br>que l\u2019arbitrage serait impossible si les<br>\u00e9valuations concurrentes des parties \u00e9taient<br>fond\u00e9es sur des concepts de valeur diff\u00e9rents.<br>L\u2019expression \u00ab utilisation optimale \u00bb n\u2019est<br>pas un terme que l\u2019on trouve g\u00e9n\u00e9ralement<br>dans les clauses de r\u00e9initialisation de loyer<br>associ\u00e9es aux baux d\u2019espace dans un b\u00e2timent.<br>De m\u00eame, la r\u00e9f\u00e9rence dans la clause de<br>r\u00e9initialisation du loyer \u00e0 la juste valeur<br>marchande (fair market rent ou FMV) pr\u00eate \u00e0<br>confusion, car FMR est l\u2019acronyme courant de<br>fair market rent (juste valeur locative). Une<br>clause de r\u00e9initialisation du loyer mal r\u00e9dig\u00e9e<br>peut rendre difficile pour un \u00e9valuateur de<br>d\u00e9terminer les utilisations appropri\u00e9es des<br>locaux lou\u00e9s, de d\u00e9finir le type de valeur<br>et d\u2019appliquer les m\u00e9thodes et techniques<br>d\u2019\u00e9valuation appropri\u00e9es, et peut \u00eatre difficile<br>\u00e0 interpr\u00e9ter pour un arbitre.<br>Comme l\u2019a not\u00e9 le tribunal, l\u2019expression<br>\u00ab utilisation optimale \u00bb est souvent<br>utilis\u00e9e dans le secteur de l\u2019immobilier. La<br>d\u00e9termination de l\u2019utilisation optimale rel\u00e8ve<br>de la comp\u00e9tence des arbitres (\u00e0 moins que<br>l\u2019utilisation ne soit stipul\u00e9e dans le bail ou<br>convenue par les parties). Toutefois, la Cour a<br>jug\u00e9 que les arbitres ne pouvaient pas limiter<br>leur analyse de l\u2019\u00e9valuation \u00e0 l\u2019utilisation<br>des locaux lou\u00e9s en tant que restaurant<br>McDonald\u2019s sans d\u00e9terminer s\u2019il existait des<br>utilisations plus int\u00e9ressantes pour les locaux<br>lou\u00e9s, conform\u00e9ment au libell\u00e9 de la clause de<br>r\u00e9initialisation du loyer.<br>L\u2019analyse de l\u2019utilisation optimale<br>peut s\u2019av\u00e9rer difficile dans le cas d\u2019une<br>r\u00e9initialisation du loyer d\u2019un bail d\u00e9fini<br>uniquement comme une partie d\u2019un b\u00e2timent<br>ou d\u2019un complexe, avec une dur\u00e9e d\u00e9termin\u00e9e<br>et une occupation par un seul locataire. Le<br>bail de McDonald\u2019s, d\u2019une dur\u00e9e r\u00e9siduelle<br>de 10 ans,10 comprend 5 900 pieds carr\u00e9s<br>sur deux niveaux, une fa\u00e7ade de 37,75<br>pieds (emplacement au milieu d\u2019un p\u00e2t\u00e9<br>de maisons), et b\u00e9n\u00e9ficie d\u2019une exposition<br>au trafic pi\u00e9tonnier et automobile (volume<br>\u00e9lev\u00e9 \u00e0 Times Square). Le bassin de<br>locataires potentiels pour l\u2019espace occup\u00e9<br>par McDonald\u2019s est limit\u00e9, car les exigences<br>en mati\u00e8re d\u2019espace varient d\u2019un locataire \u00e0<br>l\u2019autre en fonction de la nature de l\u2019activit\u00e9 et<br>de l\u2019utilisation pr\u00e9vue.<br>Suggestions d\u2019\u00e9valuation et contenu<br>Un bail qui pr\u00e9voit l\u2019\u00e9change de rapports<br>d\u2019\u00e9valuation \u00e0 une date pr\u00e9cise exige que<br>chaque partie donne \u00e0 son \u00e9valuateur un<br>d\u00e9lai suffisant pour r\u00e9aliser l\u2019\u00e9valuation<br>de mani\u00e8re cr\u00e9dible et en temps voulu.<br>Inversement, il est tout aussi important<br>qu\u2019un \u00e9valuateur engag\u00e9 au nom d\u2019une partie<br>impliqu\u00e9e dans un litige locatif connaisse<br>et respecte les obligations contractuelles<br>impliquant la conformit\u00e9 aux principes et<br>normes d\u2019\u00e9valuation reconnus tels que les<br>Uniform Standards of Professional Appraisal<br>Practice (USPAP), les Normes uniformes<br>de pratique professionnelle en mati\u00e8re<br>d\u2019\u00e9valuation au Canada (NUPPEC) ou les<br>International Valuation Standards (IVS),11<br>ainsi que la r\u00e9alisation et la prestation<br>d\u2019un rapport d\u2019\u00e9valuation dans les d\u00e9lais<br>impartis. Si l\u2019\u00e9valuation doit faire l\u2019objet d\u2019un<br>examen ind\u00e9pendant,12 il convient de pr\u00e9voir<br>un d\u00e9lai plus long pour la commande de<br>l\u2019\u00e9valuation. Une clause ou une disposition<br>du bail qui impose des d\u00e9lais irr\u00e9alistes pour<br>la pr\u00e9paration et l\u2019\u00e9change des rapports<br>d\u2019\u00e9valuation devrait, si possible, \u00eatre<br>ren\u00e9goci\u00e9e ou temporairement assouplie<br>dans l\u2019int\u00e9r\u00eat mutuel des parties avant de<br>proc\u00e9der \u00e0 l\u2019arbitrage.<br>Des preuves d\u2019\u00e9valuation cr\u00e9dibles<br>sont cruciales dans un litige portant sur la<br>r\u00e9initialisation du loyer, et chaque partie<br>(ou son conseiller juridique) doit faire<br>preuve de diligence raisonnable dans la<br>supervision du processus d\u2019\u00e9valuation afin<br>d\u2019assurer ce qui suit :<\/li>\n\n\n\n<li>Le devoir primordial de l\u2019\u00e9valuateur est<br>d\u2019aider le juge des faits (c\u2019est-\u00e0-dire<br>l\u2019arbitre, la commission d\u2019arbitrage ou<br>le tribunal) et de fournir des preuves<br>objectives et impartiales, et une<br>d\u00e9claration \u00e0 cet effet doit \u00eatre jointe au<br>rapport d\u2019\u00e9valuation.<\/li>\n\n\n\n<li>Le rapport d\u2019\u00e9valuation devrait identifier<br>l\u2019utilisateur pr\u00e9vu, l\u2019utilisation pr\u00e9vue<br>(c\u2019est-\u00e0-dire l\u2019arbitrage), le type de<br>valeur (par exemple, la valeur de<br>march\u00e9, la valeur locative de march\u00e9)<br>et les d\u00e9finitions invoqu\u00e9es, la date<br>d\u2019entr\u00e9e en vigueur des avis et des<br>conclusions, ainsi que les \u00e9ventuelles<br>conditions d\u2019affectation.13<\/li>\n\n\n\n<li>Le rapport d\u2019\u00e9valuation devrait inclure<br>un curriculum vitae d\u00e9taill\u00e9 faisant \u00e9tat<br>des qualifications professionnelles et<br>mettant l\u2019accent sur les connaissances<br>et l\u2019exp\u00e9rience pertinentes pour la ou les<br>questions d\u2019\u00e9valuation en litige.<\/li>\n\n\n\n<li>L\u2019envergure des travaux14 entrepris et<br>pr\u00e9sent\u00e9s dans l\u2019\u00e9valuation doit \u00eatre<br>coh\u00e9rente avec l\u2019utilisation pr\u00e9vue, en<br>d\u00e9crivant la nature et l\u2019\u00e9tendue des<br>recherches effectu\u00e9es dans le cadre de<br>la t\u00e2che de r\u00e9initialisation des loyers,<br>et la d\u00e9pendance \u00e0 l\u2019\u00e9gard de rapports<br>pr\u00e9par\u00e9s par d\u2019autres professionnels doit<br>\u00eatre divulgu\u00e9e. Le rapport d\u2019\u00e9valuation<br>devrait \u00eatre relu pour v\u00e9rifier qu\u2019il ne<br>contient pas d\u2019erreurs typographiques,<br>d\u2019erreurs math\u00e9matiques, d\u2019omissions<br>factuelles, de d\u00e9clarations incoh\u00e9rentes,<br>de documents privil\u00e9gi\u00e9s ou<br>d\u2019informations irrecevables devant un<br>tribunal, telles que les communications<br>prot\u00e9g\u00e9es entre le client et l\u2019avocat ou le<br>produit du travail.15<\/li>\n\n\n\n<li>Le rapport d\u2019\u00e9valuation devrait faire<br>l\u2019objet d\u2019une r\u00e9vision ind\u00e9pendante<br>avant l\u2019\u00e9change des rapports et avant la<br>pr\u00e9sentation du rapport \u00e0 l\u2019arbitre ou au<br>groupe sp\u00e9cial d\u2019arbitrage. Si n\u00e9cessaire,<br>le rapport d\u2019\u00e9valuation devrait \u00eatre<br>modifi\u00e9 afin de corriger les faiblesses,<br>les incoh\u00e9rences et les erreurs de<br>commission ou d\u2019omission, et ce afin de<br>garantir la conformit\u00e9 avec les normes<br>professionnelles d\u2019\u00e9valuation16 et les<br>exigences l\u00e9gales applicables.<\/li>\n\n\n\n<li>Le rapport d\u2019\u00e9valuation devrait<br>comprendre des croquis (ou des dessins<br>d\u2019architecture, s\u2019ils sont disponibles)<br>et des mesures confirm\u00e9es des locaux<br>lou\u00e9s ou des locaux en litige s\u2019ils ne<br>sont pas explicitement d\u00e9finis dans le<br>bail ou convenus par les parties. Il est<br>pr\u00e9f\u00e9rable que les parties retiennent<br>conjointement les services d\u2019un tiers<br>qualifi\u00e9 pour effectuer le mesurage des<br>locaux lou\u00e9s en litige17 avant d\u2019entamer la<br>proc\u00e9dure d\u2019arbitrage. Si les locaux lou\u00e9s<br>comprennent des am\u00e9liorations ou des<br>structures, un historique et une analyse<br>des permis de construire devraient \u00eatre<br>fournis, s\u2019ils sont facilement disponibles.<\/li>\n\n\n\n<li>Id\u00e9alement, le rapport d\u2019\u00e9valuation devrait<br>inclure un r\u00e9sum\u00e9 du titre de propri\u00e9t\u00e9 ou<br>un registre parcellaire pour chaque vente<br>Canadian Property Valuation | \u00c9valuation 52 immobili\u00e8re au Canada Return to CONTENTS<br>ou bail comparable utilis\u00e9 dans l\u2019analyse<br>de la r\u00e9initialisation du loyer.<\/li>\n\n\n\n<li>L\u2019\u00e9valuation devrait divulguer et analyser<br>les activit\u00e9s de location ou les inscriptions<br>r\u00e9centes du bien en question, ainsi que<br>toutes les donn\u00e9es comparables du<br>march\u00e9 utilis\u00e9es dans l\u2019analyse de la<br>r\u00e9initialisation du loyer pour une p\u00e9riode<br>ant\u00e9rieure \u00e0 la date d\u2019entr\u00e9e en vigueur<br>de la r\u00e9initialisation du loyer, jug\u00e9e<br>appropri\u00e9e par l\u2019\u00e9valuateur.<\/li>\n\n\n\n<li>L\u2019\u00e9valuation devrait indiquer l\u2019adresse<br>ou la description l\u00e9gale de chaque bail\/<br>location comparable et l\u2019\u00e9tendue de<br>la documentation et de la v\u00e9rification<br>de chaque bail\/location comparable<br>utilis\u00e9(e) dans l\u2019analyse de la<br>r\u00e9initialisation du loyer.<\/li>\n\n\n\n<li>L\u2019\u00e9valuation devrait indiquer si et<br>quand une vente ou un bail\/une<br>location comparable a \u00e9t\u00e9 inspect\u00e9(e)<br>et, id\u00e9alement, par qui. Toutes les<br>photographies et vues a\u00e9riennes devraient<br>\u00eatre horodat\u00e9es.<\/li>\n\n\n\n<li>L\u2019utilisation d\u2019enqu\u00eates publi\u00e9es (par<br>exemple, prix des terrains, taux de<br>location, taux de rendement, etc.) devrait<br>refl\u00e9ter une compr\u00e9hension de la mani\u00e8re<br>dont elles ont \u00e9t\u00e9 men\u00e9es, dans quel but<br>et par qui.<\/li>\n\n\n\n<li>Le recours \u00e0 des conditions d\u2019affectation18<br>ne doit pas limiter l\u2019\u00e9tendue des travaux<br>au point que les r\u00e9sultats de la mission<br>ne soient pas cr\u00e9dibles dans le contexte<br>de l\u2019utilisation pr\u00e9vue, et les conditions<br>d\u2019affectation doivent \u00eatre mentionn\u00e9es<br>dans le rapport d\u2019\u00e9valuation.<\/li>\n\n\n\n<li>Les m\u00e9thodes et techniques d\u2019\u00e9valuation<br>utilis\u00e9es doivent \u00eatre appropri\u00e9es et<br>correctement appliqu\u00e9es, compatibles<br>avec l\u2019utilisation pr\u00e9vue de l\u2019\u00e9valuation et<br>refl\u00e9ter l\u2019\u00e9tat actuel des connaissances en<br>mati\u00e8re d\u2019\u00e9valuation.19<br>\u00c9tude de cas &#8211; r\u00e9vision d\u2019une sentence<br>arbitrale de r\u00e9initialisation de loyer<br>Dans le cadre d\u2019une r\u00e9initialisation de<br>loyer impliquant un propri\u00e9taire et Best<br>Buy Canada Ltd. en tant que preneur \u00e0<br>bail (locataire), le litige se limitait \u00e0 la<br>d\u00e9termination du \u00ab loyer du march\u00e9 \u00bb d\u2019un<br>bail de cinq ans, comprenant un magasin de<br>37 000 pieds carr\u00e9s (occup\u00e9 par Best Buy)<br>sur deux niveaux (17 385 pieds carr\u00e9s au 1er<br>\u00e9tage et 19 598 pieds carr\u00e9s au 2e \u00e9tage)<br>et 109 places de stationnement en surface,<br>d\u00e9battu devant un arbitre \u00ab unique \u00bb :<br>\u00ab Le loyer fixe pour les seizi\u00e8me (16e) \u00e0<br>vingti\u00e8me (20e) ann\u00e9es du bail [1er juin<br>2014 &#8211; 31 mai 2019] (c\u2019est-\u00e0-dire la<br>deuxi\u00e8me p\u00e9riode d\u2019option) sera \u00e9gal<br>au montant le plus \u00e9lev\u00e9 entre (i)\u2026<br>1 095 030,00 $ par an; ou (ii) la<br>valeur locative du march\u00e9 pour les<br>locaux, \u00e0 l\u2019exclusion des enseignes,<br>des installations commerciales,<br>de l\u2019ameublement et des finitions<br>int\u00e9rieures du locataire. Si le bailleur<br>et le locataire ne parviennent<br>pas \u00e0 s\u2019entendre sur la valeur<br>locative marchande des locaux, la<br>question sera soumise \u00e0 l\u2019arbitrage<br>conform\u00e9ment \u00e0 la Loi sur l\u2019arbitrage<br>(Ontario). \u00bb<br>\u00ab En cas de litige de bonne foi entre<br>le locataire et le propri\u00e9taire en vertu<br>du pr\u00e9sent bail, le litige, au choix du<br>propri\u00e9taire ou du locataire, sera<br>imm\u00e9diatement soumis \u00e0 un arbitre<br>unique convenu entre le locataire<br>et le propri\u00e9taire\u2026 Cet arbitre, qu\u2019il<br>soit convenu ou nomm\u00e9, aura acc\u00e8s<br>aux dossiers des parties qui sont<br>raisonnablement n\u00e9cessaires et la<br>d\u00e9cision de cet arbitre sera d\u00e9finitive<br>et contraignante pour les parties. Le<br>co\u00fbt de l\u2019arbitrage suivra la sentence,<br>sauf d\u00e9cision contraire de l\u2019arbitre. \u00bb<br>(Traduction)<br>Au d\u00e9but de l\u2019arbitrage, l\u2019\u00e9valuation du<br>propri\u00e9taire a estim\u00e9 la valeur locative<br>annuelle du march\u00e9 \u00e0 1 653 140 $, tandis<br>que l\u2019\u00e9valuation du locataire a estim\u00e9 que<br>la valeur locative annuelle du march\u00e9 se<br>situait dans une fourchette de 662 771 $ \u00e0<br>983 232 $, les deux \u00e9valuateurs s\u2019appuyant<br>sur des donn\u00e9es de location comparables.<br>Les offres de r\u00e8glement ult\u00e9rieures faites par<br>chaque partie ont \u00e9t\u00e9 rejet\u00e9es. La divergence<br>entre les estimations de la valeur locative<br>de march\u00e9 des parties est \u00e9tonnante,<br>puisqu\u2019elle se situe entre 68 % et 150 %.<br>Un bref examen de la sentence arbitrale, qui,<br>dans ce litige locatif, devait \u00eatre motiv\u00e9e,20<br>r\u00e9v\u00e8le ce qui suit :<\/li>\n\n\n\n<li>Le \u00ab volume des ventes \u00bb,21 une mesure<br>fondamentale d\u2019un commerce de d\u00e9tail<br>de type \u00ab grande surface \u00bb,22 et le ratio de<br>stationnement typique n\u00e9cessaire pour<br>soutenir l\u2019exploitation d\u2019un commerce de<br>d\u00e9tail23 ne sont pas mentionn\u00e9s dans la<br>sentence arbitrale, mais on ne sait pas si<br>ces informations \u00e9taient contenues dans<br>le rapport d\u2019\u00e9valuation de l\u2019une ou l\u2019autre<br>des parties.<\/li>\n\n\n\n<li>L\u2019une des \u00e9valuations a trait\u00e9 le magasin et<br>le stationnement comme deux \u00e9l\u00e9ments<br>distincts, contrairement au libell\u00e9 du<br>bail,24 afin de calculer un taux de location<br>du march\u00e9 pour les locaux (c\u2019est-\u00e0-dire le<br>bien dans son ensemble), une approche<br>qui n\u2019est pas conforme \u00e0 la th\u00e9orie<br>reconnue en mati\u00e8re d\u2019\u00e9valuation.<\/li>\n\n\n\n<li>Dans la pr\u00e9sentation des donn\u00e9es de<br>location comparables, les taux rapport\u00e9s<br>par pied carr\u00e9 sont \u00ab nets \u00bb, mais on ne sait<br>pas si le rapport d\u2019\u00e9valuation de l\u2019une ou<br>l\u2019autre des parties a inclus une analyse du<br>co\u00fbt d\u2019occupation25 pour tenir compte des<br>diff\u00e9rences de d\u00e9penses d\u2019exploitation<br>entre les locaux en question et chaque<br>bail\/location comparable.<\/li>\n\n\n\n<li>Quant aux ratios de stationnement des<br>biens comparables, on ne sait pas si cette<br>information a \u00e9t\u00e9 fournie dans le rapport<br>d\u2019\u00e9valuation de l\u2019une ou l\u2019autre des parties.<\/li>\n\n\n\n<li>Bien que l\u2019arbitre ait reconnu que<br>\u00ab la disposition relative \u00e0 l\u2019utilisation<br>modifi\u00e9e [dans le bail] est suffisamment<br>large pour englober une grande vari\u00e9t\u00e9<br>d\u2019utilisations \u00bb (Traduction), la d\u00e9cision<br>ne fait aucune r\u00e9f\u00e9rence au zonage de la<br>propri\u00e9t\u00e9 en question (les locaux) et aux<br>utilisations autoris\u00e9es. On ne sait pas si le<br>rapport d\u2019\u00e9valuation de l\u2019une ou l\u2019autre des<br>parties contient une analyse du zonage<br>des locaux lou\u00e9s.<\/li>\n\n\n\n<li>Il n\u2019y a aucune indication sur les<br>utilisations, s\u2019il y en a, refl\u00e9t\u00e9es dans<br>les donn\u00e9es de location comparables,<br>qui seraient autoris\u00e9es ou adapt\u00e9es aux<br>locaux en question (37 000 pieds carr\u00e9s<br>sur deux niveaux), et disponibles pendant<br>les cinq ann\u00e9es restantes de la dur\u00e9e du<br>bail. On ne sait pas si ces informations<br>figurent dans le rapport d\u2019\u00e9valuation de<br>l\u2019une ou l\u2019autre des parties.<\/li>\n\n\n\n<li>Un seul des loyers comparables (une<br>sous-location disponible) pr\u00e9sent\u00e9<br>dans le rapport d\u2019\u00e9valuation de l\u2019une des<br>parties a une dur\u00e9e de cinq ans, ce qui<br>correspond \u00e0 la p\u00e9riode de cinq ans pour<br>laquelle le loyer devait \u00eatre fix\u00e9, et se<br>situe sur deux niveaux (13 400 pieds<br>carr\u00e9s au 1er \u00e9tage et 14 500 pieds<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 53<br>carr\u00e9s au 2e \u00e9tage), comme l\u2019espace en<br>question, mais il a \u00e9t\u00e9 rejet\u00e9 par l\u2019arbitre<br>comme \u00ab n\u2019\u00e9tant pas un reflet exact<br>du march\u00e9 \u00bb.<br>Il se peut qu\u2019il n\u2019y ait pas de base<br>raisonnable pour la grande divergence<br>entre les opinions sur la valeur locative<br>du march\u00e9, et la raison pour laquelle<br>l\u2019arbitrage aurait d\u00fb prendre \u00ab une dizaine<br>de jours \u00bb n\u2019est pas tout \u00e0 fait claire.<br>L\u2019arbitre n\u2019a accept\u00e9 aucune des opinions<br>des parties sur la valeur locative du<br>march\u00e9 et a fix\u00e9 le loyer des locaux \u00e0<br>1 279 260 $. Sur la base de l\u2019ensemble<br>des preuves pr\u00e9sent\u00e9es par les parties,<br>l\u2019arbitre a d\u00e9sign\u00e9 le bailleur comme \u00ab la<br>partie gagnante \u00bb, laissant au locataire le<br>soin de supporter les frais de l\u2019arbitrage,<br>y compris la somme de 383 000 $ allou\u00e9e<br>par le bailleur au titre des d\u00e9pens. En<br>appel, le locataire a contest\u00e9 en vain la<br>condamnation aux d\u00e9pens en faisant valoir<br>que le loyer adjug\u00e9 de 1 279 260 $ \u00e9tait<br>plus proche du \u00ab loyer de base \u00bb minimum<br>de 1 095 030 $ que l\u2019offre de r\u00e8glement<br>du bailleur de 1 550 000 $. Comme l\u2019a not\u00e9<br>le tribunal,<br>\u00ab L\u2019arbitre \u00e9tait en droit d\u2019exercer<br>son pouvoir discr\u00e9tionnaire dans<br>l\u2019\u00e9valuation des facteurs pertinents<br>qu\u2019il a pris en compte pour rendre sa<br>sentence sur les frais. \u00bb (Traduction)<br>L\u2019arbitrage a dur\u00e9 10 jours et a co\u00fbt\u00e9 environ<br>1 000 000 $. Les deux parties auraient<br>probablement b\u00e9n\u00e9fici\u00e9 d\u2019un examen<br>ind\u00e9pendant de leur propre \u00e9valuation<br>avant de s\u2019y fier dans le cadre de l\u2019arbitrage<br>sur la r\u00e9vision des loyers, en supposant<br>qu\u2019un tel examen n\u2019a pas \u00e9t\u00e9 entrepris.<br>Le fait de s\u2019assurer qu\u2019un rapport<br>d\u2019\u00e9valuation a trait\u00e9 de mani\u00e8re approfondie<br>et cr\u00e9dible la ou les questions litigieuses<br>relatives \u00e0 la r\u00e9initialisation de la valeur<br>des loyers devrait aider chaque partie \u00e0<br>comprendre les m\u00e9rites relatifs et la solidit\u00e9<br>de son dossier et aider l\u2019arbitre ou le comit\u00e9<br>d\u2019arbitrage \u00e0 trancher le litige, tout en<br>r\u00e9duisant le co\u00fbt de l\u2019arbitrage pour les<br>deux parties. Les arbitres prennent<br>leurs d\u00e9cisions sur la base des preuves<br>d\u2019\u00e9valuation qui leur sont pr\u00e9sent\u00e9es, et les<br>d\u00e9cisions qu\u2019ils prennent sont guid\u00e9es par<br>l\u2019exhaustivit\u00e9, l\u2019exactitude, l\u2019ad\u00e9quation, la<br>pertinence et le caract\u00e8re raisonnable des<br>rapports d\u2019\u00e9valuation.<br>L\u2019arbitre rejette un rapport<br>d\u2019\u00e9valuation non conforme<br>La pr\u00e9sentation de preuves d\u2019\u00e9valuation<br>qui ne r\u00e9pondent pas aux normes<br>professionnelles attendues d\u2019un \u00ab \u00e9valuateur<br>raisonnable \u00bb26 et qui ne respectent pas les<br>\u00ab principes d\u2019\u00e9valuation applicables \u00bb peut<br>entra\u00eener des pertes financi\u00e8res importantes<br>pour une partie et avoir des cons\u00e9quences<br>inattendues pour un \u00e9valuateur dont le client<br>a re\u00e7u une d\u00e9cision d\u00e9favorable dans un<br>arbitrage, comme cela s\u2019est produit dans le<br>litige entre deux parties concernant la valeur<br>d\u2019une parcelle non viabilis\u00e9e de 84 acres<br>devant \u00eatre am\u00e9nag\u00e9e six \u00e0 huit ans plus tard<br>en lotissement r\u00e9sidentiel.27<br>Un juge \u00e0 la retraite a pr\u00e9sid\u00e9 une<br>audience de 18 jours en tant qu\u2019arbitre unique<br>et, sur la base d\u2019une analyse tr\u00e8s d\u00e9taill\u00e9e<br>faisant r\u00e9f\u00e9rence \u00e0 un texte d\u2019\u00e9valuation<br>faisant autorit\u00e9 et \u00e0 des normes d\u2019\u00e9valuation<br>g\u00e9n\u00e9ralement accept\u00e9es, il a rejet\u00e9<br>l\u2019\u00e9valuation pr\u00e9par\u00e9e pour le compte de l\u2019une<br>des parties. En effet, l\u2019une des parties s\u2019est<br>retrouv\u00e9e sans aucune preuve d\u2019\u00e9valuation<br>sur laquelle s\u2019appuyer pour d\u00e9fendre sa<br>position. Le raisonnement \u00e0 l\u2019appui de la<br>d\u00e9cision de l\u2019arbitre de rejeter l\u2019\u00e9valuation est<br>reproduit, en partie, comme suit :<br>\u00ab Dans son analyse, l\u2019arbitre a import\u00e9<br>et appliqu\u00e9 avec rigueur un certain<br>nombre de normes professionnelles<br>tir\u00e9es des Normes uniformes de<br>pratique professionnelle en mati\u00e8re<br>d\u2019\u00e9valuation au Canada [NUPPEC] et du<br>texte L\u2019\u00e9valuation des biens immobiliers,<br>3e \u00e9dition, \u00e9dition canadienne, publi\u00e9<br>par l\u2019Institut canadien des \u00e9valuateurs<br>[ICE]. Il a jug\u00e9 que la derni\u00e8re partie<br>de l\u2019article 9 [de la convention de<br>colocation] visait \u00e0 rendre les normes<br>et les principes de l\u2019ICE applicables aux<br>\u00e9valuations pr\u00e9vues par la CCL.28<br>\u2026[L]e\u2026 rapport n\u2019\u00e9tait pas une<br>\u00e9valuation au sens de l\u2019article 9 de<br>la CCL [convention de colocation];<br>d\u2019apr\u00e8s les preuves, il n\u2019y avait pas de<br>base factuelle pour estimer la valeur<br>du terrain en utilisant la m\u00e9thode<br>d\u2019\u00e9valuation [approche r\u00e9siduelle du<br>terrain] choisie par\u2026 [l\u2019\u00e9valuateur]; et il<br>y avait des erreurs dans les donn\u00e9es et\/<br>ou les calculs\u2026 [l\u2019\u00e9valuateur], comme le<br>refl\u00e8tent les raisons d\u00e9taill\u00e9es donn\u00e9es<br>entre les pages 15 et 40 de sa d\u00e9cision.<br>\u2026 [L\u2019arbitre] a examin\u00e9 la \u00ab m\u00e9thode<br>r\u00e9siduelle du terrain \u00bb qui, selon \u2026<br>[l\u2019\u00e9valuateur], avait \u00e9t\u00e9 utilis\u00e9e pour<br>d\u00e9terminer la juste valeur marchande [29]<br>de la propri\u00e9t\u00e9 en question. Cette<br>m\u00e9thode est d\u00e9crite dans le texte de l\u2019ICE<br>comme une technique permettant de<br>donner effet \u00e0 la m\u00e9thode du revenu. En<br>contradiction, note l\u2019arbitre, la m\u00e9thode<br>du revenu a \u00e9t\u00e9 d\u00e9clar\u00e9e par l\u2019\u00e9valuateur<br>comme n\u2019\u00e9tant pas pertinente. Il a<br>rejet\u00e9 l\u2019insistance de l\u2019\u00e9valuateur sur<br>le fait que la m\u00e9thode r\u00e9siduelle du<br>terrain \u00e9tait la m\u00eame que la m\u00e9thode<br>de d\u00e9veloppement de la subdivision,<br>comme \u00e9tant incompatible avec le texte<br>faisant autorit\u00e9 \u2026.. En comparant le<br>rapport et les preuves de l\u2019\u00e9valuateur<br>aux normes sp\u00e9cifiques de l\u2019ICE, l\u2019arbitre<br>a d\u00e9clar\u00e9 qu\u2019ils \u00ab \u2026 ne se conformaient<br>aucunement \u00bb. (Traduction)<br>L\u2019arbitre s\u2019est inform\u00e9 de l\u2019ensemble des<br>connaissances \u00e9nonc\u00e9es dans L\u2019\u00e9valuation<br>des biens immobiliers et dans les Normes<br>uniformes de pratique professionnelle en<br>mati\u00e8re d\u2019\u00e9valuation au Canada (NUPPEC),<br>normes auxquelles tous les membres de<br>l\u2019Institut canadien des \u00e9valuateurs doivent<br>se conformer.<br>Il est \u00e9vident que la \u00ab m\u00e9thode<br>r\u00e9siduelle du terrain \u00bb n\u2019est pas la m\u00eame<br>chose que la \u00ab m\u00e9thode de d\u00e9veloppement<br>de la subdivision \u00bb,30 et que l\u2019une<br>ne remplace pas l\u2019autre. Les pertes<br>financi\u00e8res subies par la partie priv\u00e9e<br>d\u2019une \u00e9valuation acceptable, y compris le<br>paiement de 800 000 $ de frais impos\u00e9s<br>par l\u2019arbitre, auraient pu \u00eatre \u00e9vit\u00e9es si le<br>rapport d\u2019\u00e9valuation avait fait l\u2019objet d\u2019un<br>examen ind\u00e9pendant avant l\u2019arbitrage, en<br>supposant qu\u2019un tel examen n\u2019a pas eu lieu.<br>La confiance de la partie dans l\u2019\u00e9valuation<br>s\u2019est av\u00e9r\u00e9e fatale. Dans certaines<br>juridictions, un \u00e9valuateur engag\u00e9 comme<br>t\u00e9moin expert peut \u00eatre tenu responsable<br>en cas de n\u00e9gligence dans son rapport<br>ou son t\u00e9moignage,31 et peut \u00eatre tenu<br>responsable en cas de violation du mandat<br>de repr\u00e9sentation (contrat de service)<br>conclu avec le client et entra\u00eenant des<br>pertes financi\u00e8res. Le produit du travail de<br>l\u2019\u00e9valuateur peut \u00e9galement donner lieu \u00e0<br>une enqu\u00eate de l\u2019organisation fa\u00eeti\u00e8re dont<br>l\u2019\u00e9valuateur est membre. Bien entendu,<br>avant d\u2019accepter un contrat de service,<br>Canadian Property Valuation | \u00c9valuation 54 immobili\u00e8re au Canada Return to CONTENTS<br>l\u2019\u00e9valuateur a l\u2019obligation de satisfaire \u00e0 la<br>disposition relative aux comp\u00e9tences, telle<br>qu\u2019elle est \u00e9nonc\u00e9e dans les NUPPEC, les<br>USPAP ou les IVS, en fonction des normes<br>en vigueur.32<br>Conclusion<br>L\u2019arbitrage peut \u00eatre pr\u00e9f\u00e9rable aux<br>proc\u00e9dures judiciaires comme m\u00e9canisme<br>de r\u00e9solution des litiges relatifs aux contrats<br>priv\u00e9s tels que les baux, en particulier<br>les questions d\u2019\u00e9valuation impliquant<br>des r\u00e9initialisations de loyers. Bien que<br>toujours contradictoire, l\u2019arbitrage est une<br>proc\u00e9dure consensuelle et g\u00e9n\u00e9ralement<br>moins formelle, et la r\u00e9solution d\u2019un litige<br>est rapide. Les arbitres exp\u00e9riment\u00e9s en tant<br>qu\u2019\u00e9valuateurs comprennent le processus<br>d\u2019\u00e9valuation et les normes d\u2019\u00e9valuation en<br>vigueur (par exemple, USPAP, NUPPEC,<br>IVS), ce qui fait que les \u00e9valuateurs sont<br>parfaitement qualifi\u00e9s pour agir en tant<br>qu\u2019arbitres dans les litiges relatifs \u00e0 la<br>r\u00e9initialisation des loyers. Un arbitre<br>dont la d\u00e9cision de r\u00e9initialisation du<br>loyer repose sur des preuves d\u2019\u00e9valuation<br>s\u2019attend \u00e0 pouvoir s\u2019appuyer sur des<br>\u00e9valuations cr\u00e9dibles, tout comme<br>chaque partie pour le compte de laquelle<br>l\u2019\u00e9valuation a \u00e9t\u00e9 pr\u00e9par\u00e9e.<br>Un arbitre engag\u00e9 pour son expertise<br>en la mati\u00e8re doit \u00eatre capable d\u2019identifier<br>les forces et les faiblesses des preuves<br>d\u2019\u00e9valuation de chaque partie, tout en<br>s\u2019acquittant de ses fonctions arbitrales<br>de mani\u00e8re neutre et conform\u00e9ment \u00e0<br>la convention d\u2019arbitrage et \u00e0 la loi sur<br>l\u2019arbitrage qui r\u00e9gissent la situation<br>g\u00e9ographique des locaux lou\u00e9s. En<br>fonction de la juridiction dans laquelle<br>le bien est situ\u00e9, de la complexit\u00e9 des<br>questions d\u2019\u00e9valuation ou du montant du<br>loyer en litige, il peut \u00eatre opportun pour<br>chaque partie de faire examiner son propre<br>rapport d\u2019\u00e9valuation par un \u00e9valuateur<br>qualifi\u00e9 avant l\u2019arbitrage, et de rem\u00e9dier<br>\u00e0 toute lacune justifiant une r\u00e9vision du<br>rapport d\u2019\u00e9valuation. Le fait qu\u2019une partie<br>ne fasse pas examiner son propre rapport<br>d\u2019\u00e9valuation par un expert ind\u00e9pendant<br>avant d\u2019y donner suite pourrait s\u2019av\u00e9rer une<br>omission co\u00fbteuse.<br>Les arbitres disposent d\u2019un large pouvoir<br>discr\u00e9tionnaire quant \u00e0 la mani\u00e8re dont ils<br>\u00e9valuent les preuves d\u2019\u00e9valuation, et les<br>preuves d\u2019\u00e9valuation qui sont cr\u00e9dibles<br>auront plus de poids. Les \u00e9valuations<br>extr\u00eames ne contribuent gu\u00e8re \u00e0 renforcer<br>la cr\u00e9dibilit\u00e9 de la profession d\u2019\u00e9valuateur.<br>Les sentences arbitrales sont d\u00e9finitives<br>et contraignantes,33 sauf irr\u00e9gularit\u00e9s<br>extr\u00eamement limit\u00e9es. En cons\u00e9quence,<br>chaque partie doit faire preuve de diligence<br>dans la formulation d\u2019une strat\u00e9gie<br>d\u2019\u00e9valuation appropri\u00e9e en pr\u00e9vision d\u2019un<br>arbitrage de r\u00e9initialisation des loyers. Les<br>arbitrages de r\u00e9initialisation des loyers<br>peuvent \u00eatre co\u00fbteux, mais une strat\u00e9gie<br>d\u2019\u00e9valuation efficace avant l\u2019arbitrage<br>raccourcira la dur\u00e9e de l\u2019arbitrage et<br>permettra probablement aux deux parties de<br>r\u00e9aliser des \u00e9conomies substantielles.<br>Notes de fin<br>1 Selon le Dictionary of Real Estate Appraisal<br>(7e \u00e9dition), l\u2019option de prolongation<br>d\u2019un bail est synonyme d\u2019\u00ab option de<br>renouvellement \u00bb, d\u00e9finie comme \u00ab un accord<br>conclu au moment du bail initial qui donne<br>au locataire le droit, mais non l\u2019obligation, de<br>prolonger la dur\u00e9e du bail pour une dur\u00e9e<br>d\u00e9termin\u00e9e, moyennant un loyer sp\u00e9cifi\u00e9<br>dans l\u2019accord d\u2019option ou au taux du march\u00e9<br>au moment du renouvellement \u00bb.<br>2 Voir 10 Miller &amp; Starr, Cal. Real Estate<br>(4e \u00e9dition 2020). Landlord and Tenant,<br>distinction entre \u2018renouvellement\u2019 et<br>\u2018prolongation\u2019 \u00a734.73 (Miller &amp; Starr)<br>3 Fire Productions Ltd. c. Laura, 2006 BCCA<br>497 (CanLII), <a href=\"http:\/\/canlii.ca\/t\/1q1r7\">http:\/\/canlii.ca\/t\/1q1r7<\/a>,<br>consult\u00e9 le 22 novembre 2023.<br>4 L\u2019\u00ab utilisation optimale \u00bb est \u00ab l\u2019utilisation<br>raisonnablement probable d\u2019un bien qui<br>aboutit \u00e0 la valeur la plus \u00e9lev\u00e9e [et] les<br>quatre crit\u00e8res qui\u2026 doivent \u00eatre respect\u00e9s<br>sont l\u2019autorisation l\u00e9gale, la possibilit\u00e9<br>physique, la faisabilit\u00e9 financi\u00e8re et la<br>productivit\u00e9 maximale \u00bb(traduction),<br>The Dictionary of Real Estate Appraisal,<br>7e \u00e9dition, p. 88. Pour une discussion sur<br>l\u2019utilisation optimale concernant les baux<br>fonciers, voir Ground Leases : Rent Reset<br>Valuation Issues, The Appraisal Journal,<br>(automne 2011), p. 316-317.<br>5 Une clause de r\u00e9siliation anticip\u00e9e<br>pouvant \u00eatre exerc\u00e9e \u00e0 la discr\u00e9tion du<br>propri\u00e9taire (bailleur) r\u00e9duit effectivement<br>la dur\u00e9e restante du bail aux fins d\u2019une<br>r\u00e9initialisation du loyer et a un impact sur<br>l\u2019analyse de l\u2019utilisation optimale, ce qui se<br>traduit par un loyer plus bas pour la p\u00e9riode<br>de r\u00e9initialisation du loyer. Pour obtenir<br>un loyer plus \u00e9lev\u00e9, il est dans l\u2019int\u00e9r\u00eat du<br>propri\u00e9taire (bailleur) de renoncer \u00e0 la<br>clause de r\u00e9siliation anticip\u00e9e en vue de<br>la r\u00e9initialisation du loyer pour la p\u00e9riode<br>couverte par la r\u00e9initialisation du loyer.<br>6 Dans l\u2019affaire Galvano Enterprises Limited c.<br>Orionvink BV, [1999] NICA 11, \u00e0 chaque date<br>de r\u00e9initialisation du loyer au cours de la<br>p\u00e9riode de 25 ans du bail immobilier, le loyer<br>doit \u00eatre fix\u00e9 \u00ab pour une dur\u00e9e \u00e9gale \u00e0 la<br>plus longue des deux p\u00e9riodes suivantes :<br>la p\u00e9riode de 15 ans ou le reste de la dur\u00e9e<br>du bail \u00bb.(Traduction).<br>7 McDonald\u2019s Corporation c. 1552<br>Broadway Retail Owner, LLC, 2017 NY<br>Slip Op 50011(U) &#8211; NY : Supreme Court,<br>2017, https:\/\/static.schlamstone.com\/<br>docs\/1552-Broadway-Retail-Owner-LLC-v-<br>McDonalds-Corporation-2017-NY-Slip-Op-<br>50011U.pdf consult\u00e9 le 11 novembre 2023.<br>8 Conform\u00e9ment au bail, le loyer des ann\u00e9es<br>6 \u00e0 10 doit \u00eatre \u00e9gal \u00e0 115 % du loyer fix\u00e9<br>pendant les ann\u00e9es 1 \u00e0 5 de la prolongation<br>du bail de 10 ans.<br>9 L\u2019utilisation optimale dans le contexte de<br>l\u2019estimation du loyer de march\u00e9 d\u2019un bail<br>immobilier doit prendre en compte les<br>utilisations raisonnablement probables<br>autoris\u00e9es dans le cadre des contr\u00f4les de<br>l\u2019utilisation du sol en vigueur, soutenues par<br>un horizon d\u2019investissement ou une p\u00e9riode<br>de d\u00e9tention de 10 ans, compatible avec la<br>dur\u00e9e de la prolongation et de l\u2019expiration<br>du bail, \u00e0 la date d\u2019\u00e9valuation ou de<br>r\u00e9initialisation du loyer stipul\u00e9e dans le bail.<br>En d\u2019autres termes, les locataires potentiels<br>de commerces de d\u00e9tail\/commerciaux qui<br>ont besoin de plus de 10 ans pour r\u00e9cup\u00e9rer<br>leur investissement dans le commerce et les<br>am\u00e9liorations locatives ne doivent pas \u00eatre<br>pris en compte dans l\u2019analyse de l\u2019utilisation<br>optimale. Il est certain que la dur\u00e9e restante<br>du bail, c\u2019est-\u00e0-dire la prolongation de<br>10 ans et l\u2019expiration du bail le 31 mai 2024,<br>est un \u00ab facteur pertinent \u00bb dans l\u2019analyse de<br>l\u2019utilisation optimale.<br>10 Dans l\u2019affaire United Equities, Inc. c.<br>Mardordic Co, 8 AD 2e 398 (1er Dept. 1959),<br>affd 7 N.Y. 2d 911 (1960), la cour a statu\u00e9<br>qu\u2019il fallait tenir compte de la dur\u00e9e du<br>loyer r\u00e9initialis\u00e9 (21 ans) et de l\u2019option<br>de renouvellement (21 ans), soit 42 ans<br>au total, pour d\u00e9terminer \u00ab la meilleure<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 55<br>utilisation possible du terrain, qui ne se<br>limite pas \u00e0 son am\u00e9lioration en tant que<br>garage \u00bb (traduction), paragraphe 405.<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Le loyer n\u2019\u00e9tant fix\u00e9 que pour 21 ans,<br>les options de r\u00e9am\u00e9nagement peuvent<br>\u00eatre affect\u00e9es par des contraintes de<br>financement hypoth\u00e9caire.<br>11 Dans l\u2019affaire Westnay Container Services<br>Ltd. V. Freeport Properties Ltd., 2009<br>BCSC 184 (CanLII), l\u2019arbitre a rejet\u00e9 une<br>proc\u00e9dure en deux \u00e9tapes (c\u2019est-\u00e0-dire<br>la valeur estim\u00e9e du bien multipli\u00e9e par<br>le taux de rendement estim\u00e9) en faveur<br>d\u2019un taux de location estim\u00e9 appliqu\u00e9<br>directement aux locaux lou\u00e9s pour<br>r\u00e9initialiser le loyer. La raison du recours<br>\u00e0 des m\u00e9thodes indirectes d\u2019estimation<br>du loyer doit \u00eatre expliqu\u00e9e de mani\u00e8re<br>ad\u00e9quate dans le rapport d\u2019\u00e9valuation.<br>12 Les exigences en mati\u00e8re de r\u00e9vision des<br>\u00e9valuations sont couvertes par la norme<br>3 et la norme de rapport 4 des USPAP, les<br>r\u00e8gles 10 et 11 des normes et les normes<br>de rapport 6 et 7 des NUPPEC, et la section<br>6 de la norme professionnelle 2 des RICS<br>Valuation &#8211; Global Standards, entr\u00e9es en<br>vigueur le 31 janvier 2022.<br>13 Voir \u00ab Identification of the Appraisal<br>Problem \u00bb, The Appraisal of Real Estate,<br>15e \u00e9dition, p. 30.<br>14 La section 3.72 des NUPPEC (en vigueur<br>le 1er janvier 2024) d\u00e9finit l\u2019\u00e9tendue des<br>travaux comme \u00ab Le type d\u2019inspection,<br>le type et l\u2019\u00e9tendue de la recherche et<br>de l\u2019analyse n\u00e9cessaires, les limitations<br>ou autres conditions pour r\u00e9pondre \u00e0<br>l\u2019utilisation autoris\u00e9e d\u2019un contrat de service.<br>L\u2019envergure des travaux d\u2019un contrat de<br>service est d\u00e9termin\u00e9e par la conformit\u00e9 du<br>membre au NUPPEC et \u00e0 la loi applicable.<br>[v. 6.2.4, 7.5, 7.6] \u00bb<br>15 Les r\u00e8gles de privil\u00e8ge sont des questions<br>d\u2019ordre public qui doivent \u00eatre appliqu\u00e9es<br>dans l\u2019arbitrage tout comme elles le<br>seraient dans un litige, p. 4 ; \u00ab Best Practices<br>Regarding Evidence in Arbitrations \u00bb,<br>American College of Trial Lawyers,<br>Alternative Dispute Resolution Committee,<br>f\u00e9vrier 2018, https:\/\/www.actl.com\/<br>docs\/default-source\/alternative-disputeresolution-<br>committee\/adr_best_practices_<br>regarding_evidence_in_arbitrations.<br>pdf?sfvrsn=2<br>16 Conformit\u00e9 avec les NUPPEC, USPAP ou<br>IVS, en fonction des lois de la juridiction<br>dans laquelle le bien est situ\u00e9, et, s\u2019il est<br>membre d\u2019une organisation professionnelle,<br>conformit\u00e9 avec ses r\u00e8gles et r\u00e8glements.<br>17 Les locaux lou\u00e9s sont d\u00e9finis comme des<br>\u00ab biens lou\u00e9s \u00e0 une personne ou \u00e0 une entit\u00e9<br>pour une p\u00e9riode de temps sp\u00e9cifique\u2026 \u00bb<br>(Traduction), The Dictionary of Real Estate<br>Appraisal, 7e \u00e9d. (Chicago : Appraisal<br>Institute, 2022), 51.<br>18 Les USPAP d\u00e9finissent les conditions<br>d\u2019affectation comme \u00ab des hypoth\u00e8ses, des<br>hypoth\u00e8ses extraordinaires, des conditions<br>hypoth\u00e9tiques, des lois et des r\u00e8glements,<br>des exceptions juridictionnelles et d\u2019autres<br>conditions qui affectent l\u2019\u00e9tendue du<br>travail \u00bb. (Traduction) Les lois comprennent<br>les constitutions, le droit l\u00e9gislatif et<br>judiciaire, les r\u00e8gles administratives et les<br>ordonnances. Les r\u00e8glements comprennent<br>les r\u00e8gles ou les ordonnances ayant force de<br>loi, \u00e9mises par un organisme administratif.<br>19 Les r\u00e9f\u00e9rences \u00e0 des textes d\u2019\u00e9valuation<br>p\u00e9rim\u00e9s doivent \u00eatre \u00e9vit\u00e9es. Citer des textes<br>p\u00e9rim\u00e9s peut \u00eatre un signe d\u2019indiff\u00e9rence<br>\u00e0 l\u2019\u00e9gard de la profession qui \u00e9largit<br>son corpus de connaissances ou de ses<br>propres connaissances, en particulier si le<br>curriculum vitae de l\u2019\u00e9valuateur ne d\u00e9montre<br>pas les connaissances et l\u2019exp\u00e9rience<br>n\u00e9cessaires pour mener \u00e0 bien un contrat de<br>service dans le cadre de l\u2019utilisation pr\u00e9vue.<br>20 En vertu des r\u00e8gles d\u2019arbitrage commercial<br>de l\u2019American Arbitration Association<br>(CAR-46(b)), \u00ab [l]\u2019arbitre n\u2019est pas tenu<br>de rendre une sentence motiv\u00e9e \u00e0 moins<br>que les parties n\u2019en fassent la demande<br>par \u00e9crit avant la nomination de l\u2019arbitre ou<br>que l\u2019arbitre ne d\u00e9termine qu\u2019une sentence<br>motiv\u00e9e est appropri\u00e9e \u00bb (Traduction).<br>Selon la r\u00e8gle 24 (h) des Comprehensive<br>Arbitration Rules &amp; Procedures de JAMS,<br>entr\u00e9e en vigueur le 1er juin 2021, \u00ab [l]a<br>sentence consiste en une d\u00e9claration \u00e9crite<br>sign\u00e9e par l\u2019arbitre concernant le traitement<br>de chaque demande et la r\u00e9paration, le cas<br>\u00e9ch\u00e9ant, pour chacune d\u2019entre elles. \u00c0 moins<br>que toutes les parties n\u2019en conviennent<br>autrement, la sentence contient \u00e9galement<br>une d\u00e9claration \u00e9crite concise \u00e0 l\u2019appui de la<br>sentence \u00bb. (Traduction)<br>21 En 2009, au moment de la pr\u00e9c\u00e9dente<br>r\u00e9vision du loyer, la marque Best Buy a<br>r\u00e9alis\u00e9 des ventes moyennes de 877 $<br>par pied carr\u00e9 sur la base de 1 023 magasins<br>et d\u2019une taille moyenne de 39 000 pieds<br>carr\u00e9s, et le volume des ventes \u00e9tait<br>en moyenne de 770 $ par pied carr\u00e9<br>sur la base de 1 779 magasins, https:\/\/<br>retail- index.emarketer.com\/company\/<br>data\/5374f24e4d4afd2bb4446640\/<br>5374f25d4d4afd824cc1564d\/lfy\/<br>false\/best- buy-real-estate [consult\u00e9 le<br>27 novembre 2023]. Selon le Marketflash<br>du 13 juillet 2015 de CBRE (Money Talks :<br>Retail Sales Productivity Show Divergence<br>in Performance), Best Buy Co. Inc. (Future<br>Shop, Best Buy, Best Buy Mobile) au<br>Canada s\u2019\u00e9levait en moyenne \u00e0 800 $ par<br>pied carr\u00e9 en 2013.<br>22 \u00ab Un magasin \u00e0 usage unique, g\u00e9n\u00e9ralement<br>entre 10 000 et 100 000 pieds carr\u00e9s ou<br>plus, tel qu\u2019une grande librairie, un magasin<br>de fournitures de bureau, une animalerie,<br>un magasin d\u2019\u00e9lectronique ou un magasin<br>de jouets (ICSC) \u00bb (Traduction) Dictionary<br>of Real Estate, 7e \u00e9dition, p. 18. La dur\u00e9e<br>typique d\u2019un bail pour un magasin \u00ab grande<br>surface \u00bb est de 20 ans, souvent structur\u00e9<br>comme un bail initial de 10 ans \u00e0 des taux<br>de location fixes avec deux prolongations<br>de bail de cinq ans ou des options de<br>renouvellement, \u00e9galement \u00e0 des taux de<br>location fixes.<br>23 Le ratio de stationnement typique d\u2019un<br>magasin \u00e0 grande surface se situe entre<br>4,5 et 5,5 places pour 1 000 pieds carr\u00e9s de<br>surface locative brute (SLB). Les locaux en<br>question ont un ratio de stationnement de<br>2,87 places par 1 000 pieds carr\u00e9s de SLB,<br>ce qui peut \u00eatre appropri\u00e9 \u00e9tant donn\u00e9 que<br>le magasin est situ\u00e9 dans une zone urbaine<br>dens\u00e9ment peupl\u00e9e sur une ligne de m\u00e9tro<br>dans le centre-ville de Toronto, en Ontario.<br>24 Le stationnement est exploit\u00e9 par un<br>tiers pour le compte du locataire en vertu<br>d\u2019un contrat de licence conclu avec ce<br>dernier. Une \u00ab licence \u00bb n\u2019est pas un int\u00e9r\u00eat<br>foncier, et le Dictionary of Real Estate, 7e<br>\u00e9dition, d\u00e9finit la \u00ab licence \u00bb comme \u00ab [p]<br>our les biens immobiliers, un privil\u00e8ge<br>ou un permis personnel, incessible et<br>g\u00e9n\u00e9ralement r\u00e9vocable permettant<br>d\u2019exercer une activit\u00e9 sur le terrain d\u2019une<br>autre personne sans obtenir un int\u00e9r\u00eat<br>dans la propri\u00e9t\u00e9 \u00bb (Traduction) [p. 108].<br>[Dans l\u2019affaire 12400 Stowe Drive, LP c.<br>Cycle Express, LLC, Cal : Court of Appeals,<br>4th Appellate District, Division One, les<br>\u00ab locaux \u00bb consistent en un b\u00e2timent<br>industriel de 133 125 pieds carr\u00e9s sur<br>Canadian Property Valuation | \u00c9valuation 56 immobili\u00e8re au Canada Return to CONTENTS<br>un site de 297 505 pieds carr\u00e9s et un<br>terrain vague adjacent de 112 830 pieds<br>carr\u00e9s utilis\u00e9 pour le stationnement des<br>clients pendant les ventes aux ench\u00e8res,<br>aucun stationnement n\u2019\u00e9tant autoris\u00e9 en<br>dehors du site. En fixant le loyer pour la<br>prolongation du bail de cinq ans, le tribunal<br>s\u2019est prononc\u00e9 en faveur de l\u2019\u00e9valuation<br>du locataire, qui estimait la valeur locative<br>du march\u00e9 des deux composantes en tant<br>qu\u2019\u00ab unit\u00e9 collective \u00bb \u00e0 106 500 $ par mois,<br>sur la base des conditions et des restrictions<br>contenues dans le bail. L\u2019\u00e9valuation du<br>propri\u00e9taire a \u00e9valu\u00e9 chaque \u00e9l\u00e9ment<br>s\u00e9par\u00e9ment dans son utilisation optimale<br>et a abouti \u00e0 une valeur locative de march\u00e9<br>combin\u00e9e de 138 270 $ par mois.<br>25 Les locataires sont pr\u00e9occup\u00e9s par les frais<br>d\u2019occupation, qui \u00ab \u2026constituent le loyer et<br>les frais remboursables (remboursement<br>des d\u00e9penses au propri\u00e9taire, comme<br>sp\u00e9cifi\u00e9 dans le bail), qui peuvent inclure<br>des \u00e9l\u00e9ments tels que le chauffage, les<br>services publics, le service de conciergerie,<br>les taxes non incluses dans le loyer, et<br>l\u2019amortissement du co\u00fbt des modifications<br>effectu\u00e9es par le locataire pendant la dur\u00e9e<br>du bail \u00bb (Traduction) The Dictionary of Real<br>Estate, 7e \u00e9dition, p. 134.<br>26 La section 3.64 des NUPPEC d\u00e9finit<br>l\u2019\u00ab \u00e9valuateur raisonnable \u00bb comme \u00ab<br>Un membre qui fournit des services<br>professionnels conformes \u00e0 une norme de<br>soins acceptable et sur la base d\u2019hypoth\u00e8ses<br>rationnelles. [v., 4.2.5, 7.1.2, 9.9] \u00bb<br>27 Sur la base des faits de l\u2019affaire, l\u2019arbitre a<br>conclu que l\u2019approche du d\u00e9veloppement<br>de la subdivision n\u2019\u00e9tait pas applicable.<br>28 En vertu de la convention de colocation<br>(CCL), les \u00e9valuations devaient \u00eatre<br>pr\u00e9par\u00e9es par des membres d\u00e9sign\u00e9s AACI<br>de l\u2019Institut canadien des \u00e9valuateurs.<br>29 The Dictionary of Real Estate, 6e \u00e9dition,<br>2015, d\u00e9finit la \u00ab juste valeur marchande,<br>dans l\u2019usage non technique, un terme qui<br>est \u00e9quivalent \u00e0 l\u2019usage contemporain de<br>la valeur marchande \u00bb. La 7e \u00e9dition, 2022,<br>d\u00e9finit la \u00ab juste valeur marchande, dans<br>un usage non technique, un terme qui<br>est g\u00e9n\u00e9ralement synonyme de l\u2019usage<br>contemporain de la valeur marchande \u00bb.<br>30 Selon The Appraisal of Real Estate \u00ab Third<br>Canadian Edition, 2010, \u00ab [l]a m\u00e9thode<br>r\u00e9siduelle du terrain est une m\u00e9thode<br>d\u2019estimation de la valeur du terrain dans<br>laquelle le revenu net d\u2019exploitation<br>attribuable au terrain est isol\u00e9 et capitalis\u00e9<br>pour produire une indication de la<br>contribution du terrain \u00e0 l\u2019ensemble de<br>la propri\u00e9t\u00e9 \u00bb [p. 16.12], ce qui diff\u00e8re<br>des \u00e9tapes impliqu\u00e9es dans \u00ab l\u2019analyse<br>de l\u2019am\u00e9nagement du lotissement \u00bb. Voir<br>Subdivision Valuation, 2e \u00e9dition, \u00a9 2017,<br>Appraisal Institute, chapitre 11 (Land Value<br>Using the Subdivision Development Method).<br>31 Au Canada, un t\u00e9moin expert qui \u00ab fournit<br>des preuves qui s\u2019av\u00e8rent inutiles \u00bb au client<br>et au tribunal (\u00e0 l\u2019arbitre ou \u00e0 la commission<br>d\u2019arbitrage) a droit \u00e0 \u00ab l\u2019immunit\u00e9 du t\u00e9moin<br>expert \u00bb. (Voir The 6th Line Mofos Limited<br>c. Stewart 2022 ONSC 520). Aux \u00c9tats-<br>Unis, certaines juridictions ne permettent<br>pas \u00e0 une partie de poursuivre son propre<br>t\u00e9moin expert. En Floride, un expert<br>participant \u00e0 une audience d\u2019arbitrage ne<br>peut se pr\u00e9valoir de l\u2019immunit\u00e9 statutaire<br>accord\u00e9e aux arbitres et peut \u00eatre poursuivi<br>pour n\u00e9gligence. Fla. Stat. \u00a7682.0 51<br>(2016) a cr\u00e9\u00e9 une immunit\u00e9 statutaire<br>pour les arbitres, et l\u2019immunit\u00e9 n\u2019a jamais<br>\u00e9t\u00e9 express\u00e9ment \u00e9tendue pour inclure<br>les experts. (Brian C. Willis, \u00ab Resolving<br>Disputes By Expert Determination : What<br>Happens When Parties Select Appraisers,<br>Accountants, Or Other Technical Experts<br>To Decide Disputes \u00bb) Florida Bar Journal,<br>Vol. 91, No. 7 July\/Aug 2017, p. 35, https:\/\/<br>www.floridabar.org\/the-florida-barjournal\/<br>resolving, consult\u00e9 le 14 novembre<\/li>\n\n\n\n<li>Au Royaume-Uni, dans la d\u00e9cision<br>de la Cour supr\u00eame dans l\u2019affaire Jones c.<br>Kaney, [2011] UKSC 13, l\u2019\u00ab immunit\u00e9 du<br>t\u00e9moin expert \u00bb a \u00e9t\u00e9 abolie pour une partie<br>poursuivant son propre expert dans une<br>plainte pour n\u00e9gligence.<br>32 Peter T. Christensen, \u00ab Averting<br>Professional Liability Claims, Essential<br>guidelines for appraisers serving as expert<br>witnesses \u00ab, Right of Way (novembre\/<br>d\u00e9cembre 2016) : 24-27, https:\/\/www.<br>liability.com\/publications\/2016\/avertingprofessional-<br>liability-claims.aspx, consult\u00e9<br>le 20 novembre 2023.<br>33 \u00ab Les arbitres sont des juges choisis par<br>les parties pour trancher d\u00e9finitivement<br>et sans appel les questions qui leur sont<br>soumises. En tant que mode de r\u00e8glement<br>des litiges, ce recours devrait recevoir tous<br>les encouragements des tribunaux d\u2019\u00e9quit\u00e9.<br>Si la sentence est conforme \u00e0 la demande<br>et contient la d\u00e9cision honn\u00eate des arbitres,<br>apr\u00e8s une audition compl\u00e8te et \u00e9quitable<br>des parties, une cour d\u2019\u00e9quit\u00e9 ne l\u2019annulera<br>pas pour erreur, que ce soit en droit ou en<br>fait \u00bb (Traduction). Burchell c. Marsh, 58 US<br>344 (1854) 17 How.344.<br>R\u00e9f\u00e9rences<br>Blankley, K. M. (2014). Lying, Stealing, and<br>Cheating: The Role of Arbitrators as Ethics<br>Enforcers. University of Louisville Law<br>Review, 443-496. Consult\u00e9 au http:\/\/<br>digitalcommons.unl.edu\/cgi\/viewcontent.<br>cgi?article=1180&amp;context=lawfacpub.<br>Celik, D. D. (2013). Judicial Review under the<br>UK and US Arbitration Acts: Is Arbitration<br>a Better Substitute for Litigation? IALS<br>Student Law Review, 1(1), 13-25.<br>Consult\u00e9 au https:\/\/sas-space.sas.<br>ac.uk\/5237\/1\/1702-2275-1-PB.pdf.<br>Chalk, J. A. (2019). Award Writing: Clear,<br>Concise, and Complete. State Bar of<br>Texas, Arbitration Strategies: Taking your<br>Practice to the Next Level, Chapitre 4,<br>Austin, 27 mars 2019. Consult\u00e9 au https:\/\/<br>www.whitakerchalk.com\/wp-content\/<br>uploads\/2020\/02\/Chalk-Award-Writing-<br>Clear-Concise-Complete.pdf<br>Kirchner, R. J. (2014). Land Rent Reset<br>Arbitration in Hawaii: Credibility and<br>Transparency. The Appraisal Journal,<br>2014(automne), 308-317.<br>Sevelka, T. (2011). Ground Leases: Rent<br>Reset Valuation Issues. The Appraisal<br>Journal, 2011(automne), 314-326.<br>Sevelka, T. (2020). Long-Term Leases: Rent<br>Reset Analysis. The Appraisal Journal,<br>2020(hiver), 30-41.<br>Sorenson, R. C. (2010). Appraising the<br>Appraisal: The Art of Appraisal Review,<br>2nd ed., Chicago, USA: Appraisal Institute.<br>Konikoff, P. K. (2022). Appraisers in<br>Arbitration, Second Edition. Chicago, USA:<br>Appraisal Institute.<br>Thayer, D., &amp; Smith, M.K.L. (2012). Binding<br>mediation, a trap for the unwary.<br>THERECORDER, 136(31), 30 juillet 2012.<br>Consult\u00e9 au https:\/\/jenner.com\/system\/<br>assets\/publications\/10484\/original\/<br>501081203_Jenner_.pdf?1348064604<br>[Consult\u00e9 le 23 novembre 2023].<br>Carneghi, C. (1999). Appraisal Arbitration:<br>The Role of the Real Estate Appraiser in<br>Resolving Value Disputes. The Appraisal<br>Journal, 1999(avril), 119-125.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 57<br>LEGAL MATTERS<br>n expropriation law, an important principle is that increases<br>or decreases in market value attributable to the scheme of an<br>expropriation are ignored in assessing compensation payable<br>for expropriated property. Thus, compensation for land<br>expropriated for the construction and operation of a light<br>rapid transit system will not be increased even though the<br>availability of such a facility might be seen as a positive attribute<br>having upward pressure on market value. Market value will be<br>determined without regard for the presence of the light rapid<br>transit system. Conversely, if land zoned multi-family residential is<br>expropriated to provide some form of public facility, the decrease<br>in market value for land to be used in such a way will be ignored in<br>setting compensation.<br>This concept, referred to as the Pointe Gourde principle,1 was<br>the focus of the Supreme Court of Canada decision in St. John\u2019s<br>(City) v. Lynch2 handed down in May 2024. I wrote about the lower<br>court decisions in Lynch in a previous edition of this publication.3<br>However, the case bears further discussion now that we have<br>Supreme Court of Canada guidance on this topic.<br>Factual background<br>The subject property in Lynch is located in a watershed that feeds<br>a river supplying water to St. John\u2019s, Newfoundland (\u2018City\u2019). It was<br>acquired by the Lynch family through a Crown grant in 1917. At the<br>time of the grant, the land was outside municipal boundaries. Over<br>the years following the Crown grant, the City took steps to protect<br>the watershed from pollution. However, until 1992, residential uses<br>were not expressly prohibited.<br>In 1992, an expansion of the City\u2019s boundaries captured the<br>Lynch property and the City\u2019s zoning powers applied to the<br>property. Shortly thereafter, as part of a general reorganization<br>of the areas within the City boundaries, a Municipal Plan and<br>Expropriation \u2013 compensation:<br>ignoring the scheme<br>Supreme Court of Canada<br>guidance in St. John\u2019s v. Lynch<br>BY JOHN SHEVCHUK<br>Litigation Counsel, C.Arb, AACI (Hon)<br>Development Regulations implementing the plan were adopted.<br>A watershed zone was created that included the Lynch property.<br>No permitted uses were listed, but three discretionary uses \u2013<br>agriculture, forestry, and public utility \u2013 were contemplated.<br>In 1996, a policy document commissioned by the City<br>recommended that the City continue the City Act restriction on<br>erection of new buildings in the watershed and the continuation of a<br>ban on urban development with a long-term intention to revert the<br>area to \u2018natural, pristine conditions.\u2019<br>In 2011, the City advised the owners of the Lynch property<br>that no development would be allowed. In 2013, this position<br>was formally reinforced when an application to develop a 10-lot<br>residential subdivision was not approved. The City relied upon<br>the City Act and the watershed zoning under the Development<br>Regulations in refusing the application.<br>Legal background<br>In earlier proceedings before the Court of Appeal of Newfoundland<br>and Labrador, the owners of the Lynch property proved to<br>the satisfaction of the court that constructive (de facto)<br>expropriation had occurred. The court held that the 2011 and 2013<br>communications from the City to the owners resulted in a) the<br>City acquiring a beneficial interest in property or a beneficial<br>interest flowing from the property, and b) the City\u2019s actions<br>removed all reasonable uses of the property. That ruling was not<br>appealed.4 The next question became the compensation that was<br>due to the owners.<br>An application for compensation was made to the Board of<br>Commissioners of Public Utilities. The Pointe Gourde principle<br>was in play. The Board sought guidance from the Supreme Court<br>of Newfoundland and Labrador on whether compensation was to<br>be based upon existing discretionary uses for agriculture, forestry<br>Canadian Property Valuation | \u00c9valuation 58 immobili\u00e8re au Canada Return to CONTENTS<br>LEGAL MATTERS<br>and public utility purposes, or whether existing zoning should<br>be ignored and value determined as if residential development<br>was permissible. The answer depended upon whether a) the<br>existing zoning was part of the scheme to protect the water supply,<br>or b) the existing zoning was an enactment independent of the<br>pollution prevention scheme. The owners argued that the existing<br>zoning was part of the scheme, that it should be ignored, and that<br>compensation should be based on residential use. The application<br>judge held that the rezoning for discretionary uses introduced<br>through the Development Regulations was independent from the<br>City\u2019s pollution prevention scheme for the watershed. Influencing<br>the decision was her conclusion that the Development Regulations<br>were part of a comprehensive reorganization and rezoning process<br>and not specific to the Lynch property.<br>On the owners\u2019 appeal to the Newfoundland and Labrador Court<br>of Appeal, the application judge\u2019s decision was reversed. The Court<br>of Appeal held that the existing zoning was to be ignored, with the<br>result that the market value was to be determined based on the<br>more lucrative residential use.<br>The City appealed to the Supreme Court of Canada. That court<br>unanimously held that the Court of Appeal order could not stand<br>and the order of the Newfoundland and Labrador Supreme Court<br>application judge was restored. The land was to be valued based on<br>the existing, more restrictive, less valuable, discretionary uses of<br>agriculture, forestry and public utility.<br>Supreme Court of Canada analysis<br>In cases involving the Pointe Gourde principle, the point of the<br>inquiry is to determine if action taken by a public authority is a)<br>part of a process in furtherance of the scheme of expropriation,<br>or b) independent of efforts to further a scheme.5 In resolving<br>the question, the purposes of an enactment can be gleaned from<br>debates, deliberations and statements of policy leading to the<br>enactment. The rationale for an enactment may also be found<br>in a public authority\u2019s long-term plans and correspondence<br>involving officials.6<br>The court provided examples from the case law of independent<br>enactments and enactments in furtherance of a scheme. In one<br>case, the City of Toronto adopted a bylaw that prevented<br>construction on a 17-foot strip of property that was later<br>expropriated for road widening. The court hearing the case<br>held that it was open to the owner of the land to prove that the<br>bylaw freezing development was connected to the scheme for<br>widening the road.7<br>In another case, land initially zoned for residential development<br>was rezoned by local government for public service use. The<br>rezoning occurred after a provincial authority with expropriation<br>power was formed to develop a public facility. The provincial<br>authority expropriated land for its facility. In a split decision,<br>the majority of the court accepted the arbitrator\u2019s decision that<br>the re-zoning was an independent enactment despite the local<br>government\u2019s knowledge of the creation of the provincial authority.<br>A factor influencing the majority\u2019s opinion was that the rezoning<br>crystalized a city-wide plan that had been designed before the<br>creation of the provincial authority.8 Presumably, the majority<br>concluded that the expropriated property had not been singled out<br>in the rezoning process.<br>In a case where a development freeze was placed on land in an<br>area designated as a future park, the fact there was no immediate<br>intent to expropriate did not take away from the objective to<br>control development on the land so it would be available for park<br>use. The regulatory enactment was held to be made with a view<br>to expropriation.9 In such a case, the depressing effect on market<br>value of the development freeze would not be taken into account in<br>setting compensation.<br>A restrictive enactment on property that was subsequently<br>expropriated for a road project was held not to have been with a<br>view to expropriation because the enactment applied to all land in<br>the city.10<br>Growth &amp;<br>opportunity<br>That\u2019s your Altus Experience<br>Join a team of appraisers, economists,<br>market researchers, advisors and planners.<br>View opportunities at altusgroup.com\/careers<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 59<br>LEGAL MATTERS<br>A city\u2019s expropriation of land for the purpose of creating a<br>nature park followed on the heels of a province-wide policy<br>imposing development restrictions on environmentally sensitive<br>lands including the expropriated land. The court in that case held<br>that the province-wide policy could not be ignored in addressing<br>compensation because it was not directed at the subject lands.11<br>The inquiry in the case law examples provided in Lynch was<br>whether the actions of the public authority could be said to have<br>been made with a view to expropriation. If so, then those actions<br>should be considered part of the expropriation scheme and their<br>effects are to be excluded from the compensation assessment.12<br>A land use restriction enacted as part of a local governmentwide<br>or province-wide initiative not targeting specific properties<br>may suggest an independent enactment and is not to be excluded<br>in the compensation assessment. An enactment brought forth<br>by a different public authority may also indicate an independent<br>enactment. One government\u2019s knowledge of another government\u2019s<br>development plans is not conclusive that an enactment was made<br>with an intent to expropriate. Was the enactment made for the<br>purpose of expropriating or was it for regulating? In the end, each<br>case will depend on its facts.13<br>In Lynch, the key question was whether the Development<br>Regulations were enacted by the City with a view to the pollution<br>prevention scheme, i.e., to never allow development on the<br>Lynch Property. On her view of the evidence, the application judge<br>regarded the discretionary uses under the Development Regulations<br>as independent from the scheme to protect the watershed.<br>Reasonable people considering the same evidence could come to a<br>different conclusion. In restoring the Supreme Court of Newfoundland<br>and Labrador application judge\u2019s decision, Justice Martin for<br>the Supreme Court of Canada wrote \u201c\u2026 there will be reasonable<br>disagreements about the characterization of particular enactments,<br>given that this factual determination does not admit of bright-line<br>rules. In the circumstances, I see no basis to interfere with the<br>application judge\u2019s assessment. It is entitled to deference.\u201d14<br>Closing<br>As with so many other things in the law, the result in Lynch and the<br>cases cited therein demonstrate that the scheme of expropriation<br>is highly dependent upon the facts in each case, that there can be<br>more than one reasonable interpretation of the facts and that this<br>will lead to a high degree of uncertainty in how courts will rule.<br>Endnotes<br>1 Pointe Gourde Quarrying &amp; Transport Co. v. Sub-Intendent<br>of Crown Lands, (1947) A.C. 565 (H.L.); see for example<br>Expropriation Act, RSNL 1990, c E-19, s 27; The Expropriation Act,<br>CCSM c E190, s 27(2); Expropriations Act, RSO 1990, c E.26, s<br>14(4)(b); Expropriation Act, RSBC 1996, c 125, s 33; Expropriation<br>Act, RSA 2000, c E-13 s 45; Expropriation Act, RSNB 1973, c E-14,<br>s 39(4); Expropriation Act, RSNS 1989, c 156, s 33<br>2 St. John\u2019s (City) v. Lynch, 2024 SCC 17<br>3 Canadian Property Valuation, 2023 \u2013 Volume 63 \u2013 Book 3 \u2013<br>Compensation in Constructive (De Facto) Expropriation \u2013<br>Ignoring the Scheme<br>4 2016 NLCA 35; Annapolis Group Inc. v. Halifax Regional<br>Municipality, 2022 SCC 36 (Annapolis), paras. 18-19<br>5 Lynch, para. 46<br>6 Lynch, para. 48<br>7 Lynch, para. 42; Re Gibson and City of Toronto (1913), 11 D.L.R.<br>529 (Ont. S.C. (App. Div.))<br>8 Lynch, para. 43; Kramer v. Wescana Centre Authority, [1967]<br>S.C.R. 237<br>9 Lynch, para. 44; Halliday\u2019s Estate v. Newfoundland Light &amp;<br>Power Co. (1980), 29 Nfld. &amp; P.E.I.R. 212<br>10 Lynch, para. 44; Atlantic Shopping Centres Ltd. v. St. John\u2019s (City),<br>(1985), 56 Nfld. &amp; P.E.I.R. 44 (Nfld. C.A.)<br>11 Lynch, para. 45; Windsor (City) v. Paciorka Leaseholds Ltd.,<br>2021 ONCA 431<br>12 Lynch, para. 54<br>13 Lynch, paras. 56, 57<br>14 Lynch, para. 65<br>This article is provided for the purposes of generating<br>discussion. It is not to be taken as legal advice. Any questions<br>arising from this article in particular circumstances should be<br>put to qualified legal and appraisal practitioners.<br>Canadian Property Valuation | \u00c9valuation 60 immobili\u00e8re au Canada Return to CONTENTS<br>QUESTIONS JURIDIQUES<br>En droit de l\u2019expropriation, un principe important est<br>que les augmentations ou les diminutions de la valeur<br>marchande attribuables au plan d\u2019expropriation<br>ne sont pas prises en compte dans l\u2019\u00e9valuation de<br>l\u2019indemnit\u00e9 payable pour les biens expropri\u00e9s. Ainsi, l\u2019indemnit\u00e9<br>pour un terrain expropri\u00e9 pour la construction et l\u2019exploitation<br>d\u2019un syst\u00e8me de transport rapide l\u00e9ger ne sera pas augment\u00e9e,<br>m\u00eame si la disponibilit\u00e9 d\u2019une telle installation peut \u00eatre<br>consid\u00e9r\u00e9e comme un attribut positif exer\u00e7ant une pression \u00e0<br>la hausse sur la valeur marchande. La valeur marchande sera<br>d\u00e9termin\u00e9e sans tenir compte de la pr\u00e9sence du syst\u00e8me de<br>transport rapide l\u00e9ger. \u00c0 l\u2019inverse, si un terrain zon\u00e9 r\u00e9sidentiel<br>multifamilial est expropri\u00e9 en vue de la construction d\u2019une<br>installation publique, la diminution de la valeur marchande du<br>terrain utilis\u00e9 \u00e0 cette fin ne sera pas prise en compte lors de la<br>fixation de l\u2019indemnit\u00e9.<br>Ce concept, appel\u00e9 principe de Pointe Gourde,1 a \u00e9t\u00e9 au<br>centre de la d\u00e9cision de la Cour supr\u00eame du Canada dans<br>l\u2019affaire St. John\u2019s (City) c. Lynch,2 rendue en mai 2024. Dans<br>un num\u00e9ro pr\u00e9c\u00e9dent de la pr\u00e9sente publication,3 j\u2019ai parl\u00e9 des<br>d\u00e9cisions des tribunaux inf\u00e9rieurs dans l\u2019affaire Lynch, mais<br>l\u2019affaire m\u00e9rite d\u2019\u00eatre examin\u00e9e plus en d\u00e9tail maintenant que la<br>Cour supr\u00eame du Canada s\u2019est prononc\u00e9e sur ce sujet.<br>Contexte factuel<br>La propri\u00e9t\u00e9 en cause dans l\u2019affaire Lynch est situ\u00e9e dans un<br>bassin hydrographique qui alimente une rivi\u00e8re fournissant de<br>l\u2019eau \u00e0 St. John\u2019s, Terre-Neuve (\u00ab la ville \u00bb). Elle a \u00e9t\u00e9 acquise par<br>la famille Lynch par le biais d\u2019une concession de la Couronne<br>en 1917. \u00c0 l\u2019\u00e9poque, les terres se trouvaient en dehors des<br>limites de la municipalit\u00e9. Au cours des ann\u00e9es qui ont suivi<br>la concession de la Couronne, la ville a pris des mesures pour<br>Expropriation \u2013 indemnisation :<br>ignorer le r\u00e9gime<br>Orientation de la Cour<br>supr\u00eame du Canada dans<br>l\u2019affaire St. John\u2019s c. Lynch<br>PAR JOHN SHEVCHUK<br>Conseiller juridique, C.Arb, AACI(Hon), RI<br>prot\u00e9ger le bassin versant contre la pollution. Cependant,<br>jusqu\u2019en 1992, les utilisations r\u00e9sidentielles n\u2019\u00e9taient pas<br>express\u00e9ment interdites.<br>En 1992, une extension des limites de la ville a englob\u00e9<br>la propri\u00e9t\u00e9 de Lynch et les pouvoirs de zonage de la ville<br>se sont appliqu\u00e9s \u00e0 la propri\u00e9t\u00e9. Peu apr\u00e8s, dans le cadre<br>d\u2019une r\u00e9organisation g\u00e9n\u00e9rale des zones situ\u00e9es \u00e0 l\u2019int\u00e9rieur<br>des limites de la ville, un plan municipal et des r\u00e8glements<br>d\u2019am\u00e9nagement mettant en oeuvre le plan ont \u00e9t\u00e9 adopt\u00e9s. Une<br>zone de bassin versant a \u00e9t\u00e9 cr\u00e9\u00e9e, qui incluait la propri\u00e9t\u00e9 de<br>Lynch. Aucune utilisation autoris\u00e9e n\u2019y \u00e9tait mentionn\u00e9e, mais<br>trois utilisations discr\u00e9tionnaires &#8211; l\u2019agriculture, la sylviculture<br>et les services publics &#8211; \u00e9taient envisag\u00e9es.<br>En 1996, un document d\u2019orientation command\u00e9 par la<br>ville a recommand\u00e9 que la ville maintienne la restriction<br>impos\u00e9e par un d\u00e9cret municipal (the City Act) sur l\u2019\u00e9dification<br>de nouveaux b\u00e2timents dans le bassin versant et qu\u2019elle<br>continue d\u2019interdire le d\u00e9veloppement urbain, avec l\u2019intention<br>\u00e0 long terme de ramener la zone concern\u00e9e \u00e0 des \u00ab conditions<br>naturelles et vierges \u00bb.<br>En 2011, la ville a inform\u00e9 les propri\u00e9taires de la propri\u00e9t\u00e9<br>Lynch qu\u2019aucun d\u00e9veloppement ne serait autoris\u00e9. En 2013,<br>cette position a \u00e9t\u00e9 officiellement renforc\u00e9e lorsqu\u2019une<br>demande de d\u00e9veloppement d\u2019un lotissement r\u00e9sidentiel de<br>10 lots a \u00e9t\u00e9 rejet\u00e9e. La ville s\u2019est appuy\u00e9e sur le City Act et<br>sur le zonage des bassins versants pr\u00e9vu par son r\u00e8glement<br>d\u2019am\u00e9nagement pour refuser la demande.<br>Contexte juridique<br>Dans une proc\u00e9dure ant\u00e9rieure devant la Cour d\u2019appel de<br>Terre-Neuve-et-Labrador, les propri\u00e9taires de la propri\u00e9t\u00e9<br>Lynch ont prouv\u00e9 \u00e0 la satisfaction du tribunal qu\u2019il y avait eu<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 61<br>QUESTIONS JURIDIQUES<br>expropriation constructive (de facto). Le tribunal a estim\u00e9 que<br>les communications de 2011 et 2013 de la ville aux propri\u00e9taires<br>avaient entra\u00een\u00e9 a) l\u2019acquisition par la ville d\u2019un droit de<br>propri\u00e9t\u00e9 ou d\u2019un droit de propri\u00e9t\u00e9 d\u00e9coulant de la propri\u00e9t\u00e9, et<br>b) la suppression, par les actions de la ville, de toute utilisation<br>raisonnable de la propri\u00e9t\u00e9. Cette d\u00e9cision n\u2019a pas fait l\u2019objet<br>d\u2019un appel.4 La question suivante concernait l\u2019indemnisation due<br>aux propri\u00e9taires.<br>Une demande d\u2019indemnisation a \u00e9t\u00e9 d\u00e9pos\u00e9e aupr\u00e8s du<br>Board of Commissioners of Public Utilities. Le principe de<br>Pointe Gourde \u00e9tait en jeu. La Commission a demand\u00e9 \u00e0 la<br>Cour supr\u00eame de Terre-Neuve-et-Labrador si l\u2019indemnisation<br>devait \u00eatre bas\u00e9e sur les utilisations discr\u00e9tionnaires<br>existantes pour l\u2019agriculture, la sylviculture et les services<br>publics, ou si le zonage existant devait \u00eatre ignor\u00e9 et la valeur<br>d\u00e9termin\u00e9e comme si le d\u00e9veloppement r\u00e9sidentiel \u00e9tait<br>autoris\u00e9. La r\u00e9ponse d\u00e9pendait de la question de savoir si<br>a) le zonage existant faisait partie du programme de protection<br>de l\u2019approvisionnement en eau, ou b) le zonage existant<br>\u00e9tait un acte ind\u00e9pendant du programme de pr\u00e9vention de<br>la pollution. Les propri\u00e9taires ont fait valoir que le zonage<br>existant faisait partie du programme, qu\u2019il devait \u00eatre ignor\u00e9<br>et que l\u2019indemnisation devait \u00eatre bas\u00e9e sur l\u2019utilisation<br>r\u00e9sidentielle. Le juge des requ\u00eates a estim\u00e9 que le rezonage<br>pour des utilisations discr\u00e9tionnaires introduit par le r\u00e8glement<br>d\u2019am\u00e9nagement \u00e9tait ind\u00e9pendant du plan de pr\u00e9vention de<br>la pollution de la ville pour le bassin hydrographique. Cette<br>d\u00e9cision a \u00e9t\u00e9 influenc\u00e9e par sa conclusion selon laquelle les<br>r\u00e8glements d\u2019am\u00e9nagement faisaient partie d\u2019un processus<br>global de r\u00e9organisation et de rezonage et n\u2019\u00e9taient pas<br>sp\u00e9cifiques \u00e0 la propri\u00e9t\u00e9 de Lynch.<br>Lors de l\u2019appel des propri\u00e9taires devant la Cour d\u2019appel<br>de Terre-Neuve-et-Labrador, la d\u00e9cision du juge des requ\u00eates<br>a \u00e9t\u00e9 renvers\u00e9e. La Cour d\u2019appel a estim\u00e9 que le zonage<br>existant devait \u00eatre ignor\u00e9, de sorte que la valeur marchande<br>devait \u00eatre d\u00e9termin\u00e9e sur la base de l\u2019utilisation r\u00e9sidentielle,<br>plus lucrative.<br>La ville a fait appel devant la Cour supr\u00eame du Canada.<br>Cette derni\u00e8re a estim\u00e9 \u00e0 l\u2019unanimit\u00e9 que l\u2019ordonnance<br>de la cour d\u2019appel ne pouvait \u00eatre maintenue et que<br>l\u2019ordonnance du juge des requ\u00eates de la Cour supr\u00eame de<br>Terre-Neuve-et-Labrador \u00e9tait r\u00e9tablie. Le terrain devait \u00eatre<br>\u00e9valu\u00e9 sur la base des utilisations discr\u00e9tionnaires existantes,<br>plus restrictives et de moindre valeur, \u00e0 savoir l\u2019agriculture,<br>la sylviculture et les services publics.<br>Analyse de la Cour supr\u00eame du Canada<br>Dans les affaires faisant intervenir le principe de Pointe Gourde,<br>il s\u2019agit de d\u00e9terminer si les mesures prises par une autorit\u00e9<br>publique font a) partie d\u2019un processus visant \u00e0 favoriser le r\u00e9gime<br>d\u2019expropriation, ou b) sont ind\u00e9pendantes des efforts d\u00e9ploy\u00e9s<br>pour favoriser un tel r\u00e9gime.5 La raison d\u2019\u00eatre d\u2019un texte peut<br>\u00e9galement \u00eatre trouv\u00e9e dans les plans \u00e0 long terme d\u2019une autorit\u00e9<br>publique et dans la correspondance entre les fonctionnaires.6<br>La Cour a donn\u00e9 des exemples tir\u00e9s de la jurisprudence d\u2019actes<br>ind\u00e9pendants et d\u2019actes pris en application d\u2019un r\u00e9gime. Dans un<br>cas, la ville de Toronto a adopt\u00e9 un r\u00e8glement qui emp\u00eachait la<br>construction sur une bande de terrain de 17 pieds qui a ensuite \u00e9t\u00e9<br>expropri\u00e9e pour l\u2019\u00e9largissement de la route. Le tribunal saisi de<br>l\u2019affaire a estim\u00e9 qu\u2019il \u00e9tait loisible au propri\u00e9taire du terrain de<br>prouver que le r\u00e8glement interdisant la construction \u00e9tait li\u00e9 au<br>projet d\u2019\u00e9largissement de la route.7<br>Dans une autre affaire, un terrain initialement zon\u00e9 pour le<br>d\u00e9veloppement r\u00e9sidentiel a \u00e9t\u00e9 rezon\u00e9 par le gouvernement<br>local pour un usage de service public. Le rezonage a eu lieu<br>apr\u00e8s la cr\u00e9ation d\u2019une autorit\u00e9 provinciale dot\u00e9e d\u2019un pouvoir<br>d\u2019expropriation en vue de la construction d\u2019une installation<br>publique. L\u2019autorit\u00e9 provinciale a expropri\u00e9 des terrains pour<br>son installation. Dans une d\u00e9cision partag\u00e9e, la majorit\u00e9 de la<br>Cour a accept\u00e9 la d\u00e9cision de l\u2019arbitre selon laquelle le rezonage<br>\u00e9tait un acte ind\u00e9pendant, bien que le gouvernement local ait eu<br>connaissance de la cr\u00e9ation de l\u2019autorit\u00e9 provinciale. Un facteur<br>qui a influenc\u00e9 l\u2019opinion de la majorit\u00e9 \u00e9tait que le rezonage<br>cristallisait un plan \u00e0 l\u2019\u00e9chelle de la ville qui avait \u00e9t\u00e9 con\u00e7u avant<br>la cr\u00e9ation de l\u2019autorit\u00e9 provinciale,8 ce qui laisse supposer que la<br>majorit\u00e9 a conclu que la propri\u00e9t\u00e9 expropri\u00e9e n\u2019avait pas \u00e9t\u00e9 cibl\u00e9e<br>dans le processus de rezonage.<br>Dans un cas o\u00f9 un gel du d\u00e9veloppement a \u00e9t\u00e9 impos\u00e9 sur un<br>terrain situ\u00e9 dans une zone d\u00e9sign\u00e9e comme futur parc, le fait qu\u2019il n\u2019y<br>ait pas eu d\u2019intention imm\u00e9diate d\u2019expropriation n\u2019a pas enlev\u00e9 l\u2019objectif<br>de contr\u00f4ler le d\u00e9veloppement sur le terrain afin qu\u2019il soit disponible<br>pour l\u2019utilisation du parc. Il a \u00e9t\u00e9 jug\u00e9 que l\u2019acte r\u00e9glementaire avait \u00e9t\u00e9<br>pris en vue d\u2019une future expropriation.9 En pareil cas, l\u2019effet d\u00e9pressif<br>sur la valeur marchande du gel du d\u00e9veloppement ne serait pas pris en<br>compte dans la fixation de l\u2019indemnit\u00e9.<br>Un texte restrictif sur la propri\u00e9t\u00e9 qui a ensuite \u00e9t\u00e9 expropri\u00e9e<br>pour un projet routier a \u00e9t\u00e9 consid\u00e9r\u00e9 comme n\u2019ayant pas \u00e9t\u00e9 pris en<br>vue d\u2019une expropriation parce que le texte s\u2019appliquait \u00e0 toutes les<br>terres de la ville.10<br>L\u2019expropriation d\u2019un terrain par une ville en vue de la cr\u00e9ation<br>d\u2019un parc naturel a suivi l\u2019adoption d\u2019une politique provinciale<br>Canadian Property Valuation | \u00c9valuation 62 immobili\u00e8re au Canada Return to CONTENTS<br>QUESTIONS JURIDIQUES<br>imposant des restrictions en mati\u00e8re de d\u00e9veloppement sur<br>les terres \u00e9cologiquement sensibles, y compris le terrain<br>expropri\u00e9. Dans cette affaire, le tribunal a estim\u00e9 que la politique<br>provinciale ne pouvait \u00eatre ignor\u00e9e dans le cadre de l\u2019examen de<br>l\u2019indemnisation, car elle ne visait pas les terres en question.11<br>Dans les exemples jurisprudentiels fournis par Lynch, la<br>question est de savoir si les actions de l\u2019autorit\u00e9 publique<br>peuvent \u00eatre consid\u00e9r\u00e9es comme ayant \u00e9t\u00e9 prises en vue d\u2019une<br>expropriation. Dans l\u2019affirmative, ces mesures doivent \u00eatre<br>consid\u00e9r\u00e9es comme faisant partie du r\u00e9gime d\u2019expropriation et<br>leurs effets doivent \u00eatre exclus de l\u2019\u00e9valuation de l\u2019indemnit\u00e9.12<br>Une restriction de l\u2019utilisation des terres promulgu\u00e9e dans le<br>cadre d\u2019une initiative \u00e0 l\u2019\u00e9chelle locale ou provinciale ne visant<br>pas des propri\u00e9t\u00e9s sp\u00e9cifiques peut \u00eatre consid\u00e9r\u00e9e comme<br>un acte ind\u00e9pendant et ne doit pas \u00eatre exclue de l\u2019\u00e9valuation<br>de l\u2019indemnit\u00e9. Un texte promulgu\u00e9 par une autorit\u00e9 publique<br>diff\u00e9rente peut \u00e9galement indiquer qu\u2019il s\u2019agit d\u2019un texte<br>ind\u00e9pendant. La connaissance par un gouvernement des plans<br>d\u2019am\u00e9nagement d\u2019un autre gouvernement ne permet pas de<br>conclure qu\u2019un acte a \u00e9t\u00e9 pris dans l\u2019intention d\u2019exproprier. Le<br>texte a-t-il \u00e9t\u00e9 adopt\u00e9 dans le but d\u2019exproprier ou de r\u00e9glementer?<br>En fin de compte, chaque cas d\u00e9pendra des faits.13<br>Dans l\u2019affaire Lynch, la question cl\u00e9 \u00e9tait de savoir si le<br>r\u00e8glement d\u2019am\u00e9nagement avait \u00e9t\u00e9 adopt\u00e9 par la ville dans<br>le but de pr\u00e9venir la pollution, c\u2019est-\u00e0-dire de ne jamais<br>permettre l\u2019am\u00e9nagement de la propri\u00e9t\u00e9 de Lynch. D\u2019apr\u00e8s son<br>interpr\u00e9tation des \u00e9l\u00e9ments de preuve, la juge des requ\u00eates<br>a consid\u00e9r\u00e9 que les utilisations discr\u00e9tionnaires pr\u00e9vues<br>par le r\u00e8glement d\u2019am\u00e9nagement \u00e9taient ind\u00e9pendantes du<br>plan de protection du bassin hydrographique. Des personnes<br>raisonnables examinant les m\u00eames \u00e9l\u00e9ments de preuve<br>pourraient parvenir \u00e0 une conclusion diff\u00e9rente. En r\u00e9tablissant<br>la d\u00e9cision du juge des requ\u00eates de la Cour supr\u00eame de Terre-<br>Neuve-et-Labrador, le juge Martin de la Cour supr\u00eame du<br>Canada a \u00e9crit : \u00ab \u2026 il y aura des d\u00e9saccords raisonnables sur la<br>caract\u00e9risation de textes l\u00e9gislatifs particuliers, \u00e9tant donn\u00e9<br>que cette d\u00e9termination factuelle n\u2019admet pas de r\u00e8gles claires.<br>Dans les circonstances, je ne vois aucun motif d\u2019intervenir dans<br>l\u2019\u00e9valuation du juge des requ\u00eates. Il convient de faire preuve de<br>d\u00e9f\u00e9rence \u00e0 son \u00e9gard. \u00bb14<br>Conclusion<br>Comme pour beaucoup d\u2019autres choses en droit, le r\u00e9sultat de<br>l\u2019affaire Lynch et les affaires qui y sont cit\u00e9es d\u00e9montrent que le<br>r\u00e9gime d\u2019expropriation d\u00e9pend fortement des faits de chaque<br>affaire, qu\u2019il peut y avoir plus d\u2019une interpr\u00e9tation raisonnable des<br>faits et que cela conduira \u00e0 un degr\u00e9 \u00e9lev\u00e9 d\u2019incertitude dans la<br>mani\u00e8re dont les tribunaux statueront.<br>Notes de fin<br>1 Pointe Gourde Quarrying &amp; Transport Co. c. Sub-Intendent<br>of Crown Lands, (1947) A.C. 565 (H.L.); voir en exemple<br>Expropriation Act, RSNL 1990, c E-19, s 27; The Expropriation<br>Act, CCSM c E190, s 27(2); Expropriations Act, RSO 1990, c<br>E.26, s 14(4)(b); Expropriation Act, RSBC 1996, c 125, s 33;<br>Expropriation Act, RSA 2000, c E-13 s 45; Expropriation Act,<br>RSNB 1973, c E-14, s 39(4); Expropriation Act, RSNS 1989,<br>c 156, s 33<br>2 St. John\u2019s (City) v. Lynch, 2024 SCC 17<br>3 St. John\u2019s (City) v. Lynch, 2024 SCC 17<br>4 2016 NLCA 35; Annapolis Group Inc. c. Halifax Regional<br>Municipality, 2022 SCC 36 (Annapolis), paras. 18-19<br>5 Lynch, para. 46<br>6 Lynch, para. 48<br>7 Lynch, para. 42; Re Gibson and City of Toronto (1913), 11 D.L.R.<br>529 (Ont. S.C. (App. Div.))<br>8 Lynch, para. 43; Kramer c. Wescana Centre Authority, [1967]<br>S.C.R. 237<br>9 Lynch, para. 44; Halliday\u2019s Estate c. Newfoundland Light &amp;<br>Power Co. (1980), 29 Nfld. &amp; P.E.I.R. 212<br>10 Lynch, para. 44; Atlantic Shopping Centres Ltd. c. St. John\u2019s<br>(City), (1985), 56 Nfld. &amp; P.E.I.R. 44 (Nfld. C.A.)<br>11 Lynch, para. 45; Windsor (City) c. Paciorka Leaseholds Ltd.,<br>2021 ONCA 431<br>12 Lynch, para. 54<br>13 Lynch, paras. 56, 57<br>14 Lynch, para. 65<br>Cet article a pour but de susciter la discussion et de<br>sensibiliser les praticiens \u00e0 certains d\u00e9fis pos\u00e9s par la loi.<br>Il ne doit pas \u00eatre consid\u00e9r\u00e9 comme un conseil juridique.<br>Toute question relative \u00e0 l\u2019applicabilit\u00e9 de la l\u00e9gislation sur<br>l\u2019expropriation dans des circonstances particuli\u00e8res doit \u00eatre<br>pos\u00e9e \u00e0 des praticiens qualifi\u00e9s du droit et de l\u2019\u00e9valuation.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 63<br>ADVOCACY IN ACTION<br>n this edition of Advocacy in Action, our spotlight is on the<br>Appraisal Institute of Canada\u2019s 7th Annual Parliament Hill Day,<br>which was held from September 25-26, 2024.<br>AIC Advocacy Committee Members, Executives and<br>Provincial Representatives were excited to return to Parliament<br>2024 AIC Parliament Hill Day:<br>Building Transparency<br>and Trust in Canada\u2019s<br>Real Estate Market<br>Hill for AIC\u2019s 7th Annual Parliament Hill Day. Over 20 Members<br>of the AIC engaged key decision makers to communicate the<br>crucial role of AIC Professional Appraisers (P. App.) in building<br>transparency and trust and protecting the public and the<br>economy at large.<br>(L-R) Margie Carlson, Chief Executive Officer &#8211; AIC Ontario;<br>Alana Jennings-Coutts, P. App., CRA, President Elect &#8211; AIC Manitoba;<br>MP Karen Vecchio; Russell Enns, P. App., AACI, President Elect &#8211; AIC Ontario.<br>(L-R) Brandyn Hayes, AIC National &#8211; Manager, Public Affairs; MP Anna Roberts;<br>Alinda Dekker-Doucet, P. App., CRA, President &#8211; AIC Ontario;<br>Claudio Polito, P. App., AACI, AIC National &#8211; Immediate Past President.<br>Canadian Property Valuation | \u00c9valuation 64 immobili\u00e8re au Canada Return to CONTENTS<br>ADVOCACY IN ACTION<br>Parliament Hill Days provide an important opportunity for<br>AIC Members and leadership to introduce the AIC to these<br>government stakeholders to ensure that the AIC has a seat at<br>the table in federal conversations related to appraisal and the<br>Canadian real estate industry.<br>This year over the course of 25 successful meetings, we<br>called on the Federal Government to establish a National<br>Roundtable and a Finance Committee study on the entire<br>mortgage lending system to ensure that quality valuation<br>fundamentals and prudent underwriting practices are<br>maintained to safeguard the long-term stability of Canada\u2019s<br>lending system. We also asked that the Federal Government<br>include Professional Appraisers in key housing initiatives from<br>the 2024 federal budget, specifically the Building Homes on<br>Public Lands Plan and the conversion of underused federal<br>offices into housing.<br>The high level of stakeholder engagement, valuable<br>feedback, and the quality of the meetings held have made this<br>the most successful Hill Day to date. AIC leadership will continue<br>to engage with Federal Ministers, Members of Parliament, and<br>officials in the coming months and especially in the lead up to<br>the next federal election, scheduled to take place no later than<br>October 2025.<br>Claudio Polito, P. App., AACI, AIC National &#8211; Immediate Past President;<br>Donna Dewar, AIC National &#8211; Chief Executive Officer; Dena Knopp, P. App, CRA, AIC<br>National &#8211; President; Terry Dowle, P. App, AACI, AIC National &#8211; Incoming President.<br>Donna Dewar, AIC National &#8211; Chief Executive Officer; Dena Knopp, P. App,<br>CRA, AIC National &#8211; President; Sophie Lamontagne, AIC National &#8211; Director,<br>Public Affairs and Communications.<br>(L-R) Phil Kempton, P. App, AACI, Nova Scotia; Dean MacKinnon, P. App, AACI,<br>AIC National &#8211; Director; Adam Dickinson, P. App, AACI, New Brunswick;<br>MP Wayne Long.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 65<br>ADVOCACY IN ACTION<br>The AIC requests that the federal government establish a<br>National Roundtable and commission a comprehensive study by<br>the Standing Committee on Finance to review Canada\u2019s mortgage<br>lending system, ensuring that quality valuation fundamentals<br>and prudent underwriting practices are maintained to safeguard<br>the long-term stability of Canada\u2019s lending system. A national<br>conversation is needed among the AIC, lenders, mortgage<br>insurers, Appraisal Management Companies, realtors and<br>brokers, and regulators and agencies to ensure the protection<br>of what is the most significant investment for the majority of the<br>people in this country.<br>RATIONALE:<br>Complex lending environment<br>The mortgage lending industry is complex, with highly<br>competitive pressures and a wide range of organizations (small<br>niche players and private lenders to large banks and insurance<br>companies) competing for market share. This environment<br>results in industry players seeking out cost savings and<br>efficiencies at every stage of the mortgage lending process.<br>These efficiencies increase the risk that the quality of the checks<br>and balances inherent in our current system become vulnerable.<br>The integrity of the lending system must not be compromised in<br>the pursuit of efficiency.<br>Risks from outsourcing and automation<br>One key concern is the outsourcing of appraisal management<br>to Appraisal Management Companies (AMCs). AMCs compete<br>to secure business from lending institutions through service<br>level agreements that prioritize performance standards such as<br>turnaround times, lower fees, and data extraction.<br>The increasing reliance on Automated Valuation Models (AVMs)<br>further exacerbates these risks. While AVMs offer convenience,<br>they fail to consider critical appraisal factors, such as property<br>maintenance, current condition, and location-specific nuances to<br>name a few. While this business model is not expected to change<br>soon, there are significant concerns about the inherent risks of<br>commoditizing the residential appraisal function.<br>Prudent underwriting is essential<br>This is the cornerstone of a healthy and balanced real estate<br>market. As of Q1, 2024, almost one-third of first-time homebuyers<br>have Loan-to-Value (LT V) ratios higher than 80%.1 This reflects<br>an increasing risk in the market, especially in the event of an<br>economic downturn. With high interest rates and economic<br>uncertainty, it is more important than ever to ensure that proper<br>valuation criteria are in place. Professional Appraisers (P. App.)<br>play a crucial role in providing independent, third-party<br>opinions of value, helping to mitigate these risks by delivering<br>accurate, real-time appraisals based on on-site inspections and<br>thorough market analysis.<br>ACTION NEEDED:<br>Given the current market challenges, it is imperative to<br>conduct a national review of each step in the mortgage-lending<br>process, with a particular focus on maintaining strong valuation<br>fundamentals. This review should:<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Include a Standing Committee on Finance study comprised<br>of key stakeholders, including the AIC, lenders, mortgage<br>insurers, realtors, brokers, Appraisal Management<br>Companies (AMCs) and regulators to ensure that<br>independent, third-party valuations continue to safeguard<br>the mortgage lending process and the Canadian public.<\/li>\n\n\n\n<li>Include a National Roundtable as recommended by the<br>\u201cShaping our Economic Future\u201d Report of the Standing<br>Committee on Finance,2 which states: \u201c\u2026 a permanent<br>round table involving industry, government and regulatory<br>representatives [be] mandated to conduct semi-annual<br>reviews of Canada\u2019s regulated mortgage ecosystem,<br>particularly the impact of new regulations on lenders of all<br>sizes, and to develop a framework to assess government<br>proposals, ensuring that they address the unique needs of<br>small and mid-size regulated financial institutions and avoid<br>negative consequences.\u201d<\/li>\n\n\n\n<li>Include the expansion of the Office of the Superintendent<br>of Financial Institutions (OSFI) Guidelines B-20 and B-21<br>to apply to all financial institutions providing residential<br>mortgage financing, ensuring that proper due diligence \u2013<br>such as on-site inspections and third-party appraisals \u2013<br>is conducted.<\/li>\n\n\n\n<li>Include Professional Appraisers (P. App.) and others involved<br>in the home-buying process in work intended to improve<br>the public\u2019s financial literacy around mortgage lending to<br>enhance consumer understanding of fees, risks, and roles of<br>professionals involved in the home-buying process.<br>Endnotes<br>1 Indicators of Financial Vulnerabilities<br>2 Shaping our Economic Future: Canadian Priorities<br>(Februar y 2024 \/ 44th Parliament, 1st S ession)<br>2024 AIC Parliament Hill Day<br>RECOMMENDATION #1:<br>That the Federal Government Establish a National Roundtable and Finance Committee Study on the Mortgage<br>Lending System.<br>Canadian Property Valuation | \u00c9valuation 66 immobili\u00e8re au Canada Return to CONTENTS<br>ADVOCACY IN ACTION<br>The AIC calls on the federal government to ensure the involvement<br>of Professional Appraisers (P. App.) in key housing initiatives<br>outlined in the 2024 Federal Budget, particularly the Building<br>Homes on Public Lands Plan and the conversion of underused<br>federal offices into housing.<br>RATIONALE:<br>Building homes on public lands plan<br>Announced in Budget 2024, the Building Homes on Public Lands<br>plan aims to unlock 250,000 new homes by 2031 by converting public<br>lands to housing. This plan involves a comprehensive review of<br>federally owned land to identify sites for new homes, consultations<br>with municipal and provincial partners, and the creation of a Public<br>Lands Action Council to coordinate these efforts. Given the scale<br>and importance of this initiative, it is crucial that expert appraisers<br>are involved in the identification of lands and the valuation of these<br>properties. The federal government must ensure that they are<br>making informed decisions in the public interest, based on accurate<br>assessments of fair market value (FMV).<br>Office conversion<br>The federal government\u2019s plan to convert underused federal<br>offices into homes, supported by a $1.1 billion investment over<br>10 years, presents another need for the expertise of AIC Members.<br>Professional Appraisers (P. App.) can assist in identifying suitable<br>buildings for conversion, assessing deferred maintenance costs,<br>and evaluating the overall feasibility of these projects. Accurate<br>appraisals are essential for determining the highest and best use<br>(HBU) of these properties, ensuring that the public can trust the<br>government\u2019s investments in housing are sound and sustainable.<br>At a time when the cost of living is approaching a crisis level, the<br>federal government must show leadership, responsibility, and fiscal<br>restraint when implementing these housing measures.<br>Vacant land taxation and flood insurance<br>The 2024 federal budget also proposes measures taxing vacant<br>residentially zoned land to incentivize construction and advancing<br>national flood insurance, which both require the critical expertise of<br>Professional Appraisers (P. App.). Accurate, third-party appraisals<br>are essential for determining the appropriate tax on vacant land,<br>ensuring that it reflects the true market value. Similarly, expert<br>appraisers can provide invaluable insights into the valuation of<br>properties at high risk of flooding, contributing to the development<br>of a more resilient housing market.<br>ACTION NEEDED:<br>We urge the federal government to recognize the vital role that<br>Professional Appraisers (P. App.) play in ensuring the success of<br>housing and infrastructure initiatives undertaken by the federal<br>government. By formally incorporating P. App. services into the<br>planning, development, and execution of the projects outlined in the<br>2024 federal budget, the federal government can:<\/li>\n\n\n\n<li>Enhance the effectiveness of its strategies and ensure proper due<br>diligence is carried out when utilizing public funds.<\/li>\n\n\n\n<li>Contribute to the long-term stability and affordability of Canada\u2019s<br>housing market.<\/li>\n\n\n\n<li>Ensure that these initiatives are aligned with the federal<br>government\u2019s broader goals of improving housing affordability<br>and increasing supply.<\/li>\n\n\n\n<li>Integrate sound financial principles and valuation methodologies<br>into planning and development phases to ensure new housing<br>projects are based on accurate market assessments.<br>RECOMMENDATION #2:<br>Include Professional Appraisers (P. App.) in Key Housing Initiatives from the 2024 Federal Budget<br>As we navigate challenging economic times, it is crucial<br>that the federal government adopts policies that support<br>homebuyers and homeowners while safeguarding the<br>health of our financial system and real estate market.<br>Implementing the AIC\u2019s recommendations will help<br>mitigate market risks, enhance housing affordability<br>for aspiring homeowners, and improve the public\u2019s<br>understanding of the mortgage lending system.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 67<br>D\u00c9FENSE DES INT\u00c9R\u00caTS<br>Dans ce num\u00e9ro de D\u00e9fense des int\u00e9r\u00eats de l\u2019ICE, nous<br>mettons l\u2019accent sur la 7e Journ\u00e9e annuelle de l\u2019Institut<br>canadien des \u00e9valuateurs sur la Colline du Parlement,<br>qui s\u2019est tenue les 25 et 26 septembre 2024.<br>Les membres du Comit\u00e9 de D\u00e9fense des int\u00e9r\u00eats de l\u2019ICE,<br>les dirigeants et les repr\u00e9sentants provinciaux \u00e9taient enthousiastes<br>\u00e0 l\u2019id\u00e9e de retourner sur la Colline du Parlement pour la 7e Journ\u00e9e<br>annuelle de l\u2019ICE sur la Colline du Parlement. Plus de 20 membres<br>de l\u2019ICE ont rencontr\u00e9 des d\u00e9cideurs cl\u00e9s pour leur faire part<br>Journ\u00e9e sur la Colline du<br>Parlement de l&rsquo;ICE 2024:<br>Renforcer la transparence<br>et la confiance dans le march\u00e9<br>immobilier canadien<br>du r\u00f4le crucial des \u00e9valuateurs professionnels de l\u2019ICE dans<br>l\u2019\u00e9tablissement de la transparence et de la confiance et dans la<br>protection du public et de l\u2019\u00e9conomie en g\u00e9n\u00e9ral.<br>Les journ\u00e9es sur la Colline du Parlement sont une<br>occasion importante pour les membres et les dirigeants de<br>l\u2019ICE de pr\u00e9senter l\u2019ICE \u00e0 ces intervenants gouvernementaux<br>afin de s\u2019assurer que l\u2019ICE a un si\u00e8ge \u00e0 la table dans les<br>conversations f\u00e9d\u00e9rales li\u00e9es \u00e0 l\u2019\u00e9valuation et \u00e0 l\u2019industrie<br>canadienne de l\u2019immobilier.<br>(G-D) Margie Carlson, Directrice g\u00e9n\u00e9rale &#8211; ICE Ontario; Alana Jennings-Coutts,<br>\u00c9. Pro., CRA, pr\u00e9sidente \u00e9lue &#8211; AIC Manitoba; d\u00e9put\u00e9e Karen Vecchio;<br>Russell Enns, \u00c9. Pro., AACI, pr\u00e9sident \u00e9lu &#8211; ICE Ontario.<br>(G-D) Brandyn Hayes, ICE National &#8211; Gestionnaire, Affaires publiques; d\u00e9put\u00e9e<br>Anna Roberts; Alinda Dekker-Doucet, \u00c9. Pro., CRA, Pr\u00e9sidente &#8211; ICE Ontario;<br>Claudio Polito, \u00c9. Pro., AACI, ICE national &#8211; Pr\u00e9sident sortant.<br>Canadian Property Valuation | \u00c9valuation 68 immobili\u00e8re au Canada Return to CONTENTS<br>D\u00c9FENSE DES INT\u00c9R\u00caTS<br>Cette ann\u00e9e, au cours de 25 r\u00e9unions fructueuses, nous<br>avons demand\u00e9 au gouvernement f\u00e9d\u00e9ral d\u2019\u00e9tablir une<br>table ronde nationale et une \u00e9tude du Comit\u00e9 des finances<br>sur l\u2019ensemble du syst\u00e8me de pr\u00eats hypoth\u00e9caires afin de<br>s\u2019assurer que des principes fondamentaux d\u2019\u00e9valuation<br>de qualit\u00e9 et des pratiques de souscription prudentes<br>sont maintenus pour sauvegarder la stabilit\u00e9 \u00e0 long terme<br>du syst\u00e8me de pr\u00eats du Canada. Nous avons \u00e9galement<br>demand\u00e9 au gouvernement f\u00e9d\u00e9ral d\u2019inclure les \u00e9valuateurs<br>professionnels dans les initiatives cl\u00e9s en mati\u00e8re de<br>logement du budget f\u00e9d\u00e9ral de 2024, en particulier le plan<br>de construction de logements sur les terres publiques et la<br>conversion de bureaux f\u00e9d\u00e9raux sous-utilis\u00e9s en logements.<br>Le niveau \u00e9lev\u00e9 d\u2019engagement des parties prenantes,<br>les commentaires pr\u00e9cieux et la qualit\u00e9 des r\u00e9unions<br>tenues ont fait de cette Journ\u00e9e sur la Colline la plus<br>r\u00e9ussie \u00e0 ce jour. Les dirigeants de l\u2019ICE continueront \u00e0<br>s\u2019engager aupr\u00e8s des ministres f\u00e9d\u00e9raux, des membres du<br>Parlement et des fonctionnaires dans les mois \u00e0 venir, et<br>plus particuli\u00e8rement dans la p\u00e9riode pr\u00e9c\u00e9dant les<br>prochaines \u00e9lections f\u00e9d\u00e9rales, qui devraient avoir lieu au<br>plus tard en octobre 2025.<br>Claudio Polito, \u00c9. Pro., AACI, ICE National &#8211; Pr\u00e9sident sortant; Donna Dewar,<br>AIC National &#8211; PDG; Dena Knopp, \u00c9. Pro, CRA, ICE National &#8211; Pr\u00e9sidente; Terry Dowle,<br>\u00c9.Pro, AACI, ICE National &#8211; Pr\u00e9sident entrant.<br>Donna Dewar, AIC National &#8211; PDG; Dena Knopp, \u00c9. Pro, CRA,<br>ICE National &#8211; Pr\u00e9sidente; Sophie Lamontagne, ICE National &#8211; Directrice,<br>Affaires publiques et communications.<br>(G-D) Phil Kempton, \u00c9. Pro, AACI, Nouvelle-\u00c9cosse; Dean MacKinnon, \u00c9. Pro,<br>AACI, ICE National &#8211; Directeur; Adam Dickinson, \u00c9. Pro, AACI, Nouveau-Brunswick;<br>d\u00e9put\u00e9 Wayne Long.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 69<br>D\u00c9FENSE DES INT\u00c9R\u00caTS<br>RECOMMANDATION # 1 :<br>Que le gouvernement f\u00e9d\u00e9ral \u00e9tablisse une Table ronde nationale et une \u00e9tude du Comit\u00e9 permanent des finances sur le<br>syst\u00e8me de pr\u00eats hypoth\u00e9caires.<br>Journ\u00e9e sur la Colline du Parlement de l&rsquo;ICE 2024:<br>L\u2019ICE demande au gouvernement f\u00e9d\u00e9ral de mettre sur pied une Table ronde<br>nationale et commande une \u00e9tude approfondie par le Comit\u00e9 permanent<br>des finances afin d\u2019examiner le syst\u00e8me de pr\u00eats hypoth\u00e9caires du Canada,<br>en veillant \u00e0 ce que des pratiques fondamentaux de l\u2019\u00e9valuation de la qualit\u00e9<br>et une souscr iption prudente soient maintenues pour pr\u00e9server la stabilit\u00e9<br>\u00e0 long terme du syst\u00e8me de pr\u00eats du Canada. Une conversation nationale<br>est n\u00e9cessaire entre l\u2019ICE, les pr\u00eateurs, les assureurs hypoth\u00e9caires,<br>les soci\u00e9t\u00e9s de gestion des \u00e9valuations, les agents immobiliers et les<br>courtiers, ainsi que les organismes de r\u00e9glementation et les agences,<br>afin d\u2019assurer la protection de ce qui constitue l\u2019investissement le plus<br>important pour la majorit\u00e9 des citoyens de ce pays.<br>RAISON D\u2019\u00caTRE :<br>Environnement de pr\u00eat complexe<br>Le secteur des pr\u00eats hypoth\u00e9caire est complexe, caract\u00e9ris\u00e9 par des<br>pressions concurrentielles \u00e9lev\u00e9es et un large \u00e9ventail d\u2019organisations<br>(allant de petits acteurs de niche et de pr\u00eateurs priv\u00e9s \u00e0 de grandes banques<br>et compagnies d\u2019assurance) en comp\u00e9tition pour des parts du march\u00e9.<br>Ces acteurs du secteur cherchent \u00e0 r\u00e9aliser des \u00e9conomies et des gains<br>d\u2019efficacit\u00e9 \u00e0 chaque \u00e9tape du processus de pr\u00eat hypoth\u00e9caire. Ces gains<br>d\u2019efficacit\u00e9 augmentent le risque que la qualit\u00e9 des contr\u00f4les et des \u00e9quilibres<br>inh\u00e9rents \u00e0 notre syst\u00e8me actuel devienne vuln\u00e9rable. L\u2019int\u00e9grit\u00e9 du syst\u00e8me<br>de pr\u00eat ne doit pas \u00eatre compromise par la recherche de l\u2019efficacit\u00e9.<br>Risques li\u00e9s \u00e0 sous-traitance et \u00e0 l\u2019automatisation<br>La sous-traitance de la gestion des \u00e9valuations vers des soci\u00e9t\u00e9s de<br>gestion des \u00e9valuations (nomm\u00e9 en anglais: Appraisal Management<br>Companies &#8211; AMCs) est une pr\u00e9occupation majeure. Ces soci\u00e9t\u00e9s sont en<br>concurrence pour obtenir des contrats avec les \u00e9tablissements de cr\u00e9dit<br>par le biais d\u2019accords de niveau de service qui donnent la priorit\u00e9 \u00e0 des<br>normes de performance telles que les d\u00e9lais d\u2019ex\u00e9cution, des frais moins<br>\u00e9lev\u00e9s et l\u2019extraction de donn\u00e9es.<br>La d\u00e9pendance croissante \u00e0 l\u2019\u00e9gard des mod\u00e8les d\u2019\u00e9valuation<br>automatis\u00e9s (M\u00c9A) exacerbe encore ces risques. Si les mod\u00e8les<br>d\u2019\u00e9valuation automatis\u00e9s sont pratiques, ils ne prennent pas en compte<br>des facteurs d\u2019\u00e9valuation essentiels, tels que l\u2019entretien du bien, son<br>\u00e9tat actuel et les nuances propres \u00e0 l\u2019emplacement, pour n\u2019en citer<br>que quelques-uns. M\u00eame si ce mod\u00e8le d\u2019entreprise ne devrait pas<br>changer de sit\u00f4t, les risques inh\u00e9rents \u00e0 la banalisation de la fonction<br>d\u2019\u00e9valuation r\u00e9sidentielle suscitent de vives inqui\u00e9tudes.<br>Une souscription prudente est essentielle<br>C\u2019est la pierre angulaire d\u2019un march\u00e9 immobilier sain et \u00e9quilibr\u00e9.<br>Au premier trimestre 2024, pr\u00e8s d\u2019un tiers des premiers acheteurs ont un<br>ratio pr\u00eat\/valeur sup\u00e9rieur \u00e0 80 %.1 Cela refl\u00e8te un risque croissant sur le<br>march\u00e9, en particulier en cas de ralentissement \u00e9conomique. Avec des<br>taux d\u2019int\u00e9r\u00eat \u00e9lev\u00e9s et de l\u2019incertitude \u00e9conomique, il est plus crucial que<br>jamais de veiller \u00e0 ce que des crit\u00e8res d\u2019\u00e9valuation appropri\u00e9s soient mis<br>en place. Les \u00c9valuateurs Professionnels (\u00c9. Pro.) jouent un r\u00f4le crucial<br>en fournissant des opinions sur la valeur d\u2019un bien ind\u00e9pendantes et<br>\u00e9mises par des tiers, et en contribuant \u00e0 att\u00e9nuer ces risques gr\u00e2ce \u00e0 des<br>\u00e9valuations pr\u00e9cises, en temps r\u00e9el, fond\u00e9es sur des inspections sur place<br>et des analyses de march\u00e9 approfondies.<br>ACTIONS N\u00c9CESSAIRES :<br>Compte tenu des difficult\u00e9s actuelles du march\u00e9, il est imp\u00e9ratif de<br>proc\u00e9der \u00e0 un examen national de chaque \u00e9tape du processus de pr\u00eat<br>hypoth\u00e9caire, en s\u2019engageant tout particuli\u00e8rement \u00e0 maintenir des bases<br>d\u2019\u00e9valuation solides. Cet examen devrait :<\/li>\n\n\n\n<li>Inclure une \u00e9tude du Comit\u00e9 permanent des finances compos\u00e9 des<br>principales par ties prenantes, y compris l\u2019ICE, les pr\u00eateurs, les assureurs<br>hypoth\u00e9caires, les agents immobiliers, les courtiers, les soci\u00e9t\u00e9s de<br>gestion des \u00e9valuations (nomm\u00e9 en anglais: Appraisal Management<br>Companies &#8211; AMCs) et les organismes de r\u00e9glementation, afin de<br>garantir que les \u00e9valuations ind\u00e9pendantes par des tiers continuent de<br>prot\u00e9ger le processus de pr\u00eat hypoth\u00e9caire et le public canadien.<\/li>\n\n\n\n<li>Inclure une Table ronde nationale comme le recommande le rapport<br>\u00ab Fa\u00e7onner notre avenir \u00e9conomique \u00bb du Comit\u00e9 permanent des<br>finances,2 qui stipule : \u00ab \u2026 un groupe de discussion permanent compos\u00e9<br>de repr\u00e9sentants de l\u2019industrie, du gouvernement et des organismes de<br>r\u00e9glementation ayant pour mandat de r\u00e9aliser des examens semi-annuels<br>de l\u2019\u00e9cosyst\u00e8me hypoth\u00e9caire r\u00e9glement\u00e9 du Canada, particuli\u00e8rement<br>les effets des nouveaux r\u00e8glements sur les entreprises de pr\u00eat de<br>toutes les tailles, et de mettre sur pied un cadre permettant d\u2019\u00e9valuer<br>les propositions du gouvernement, de v\u00e9rifier que celles-ci r\u00e9pondent<br>aux besoins uniques des petites et moyennes institutions financi\u00e8res<br>r\u00e9glement\u00e9es et qu\u2019elles n\u2019ont pas de cons\u00e9quences n\u00e9fastes. \u00bb<\/li>\n\n\n\n<li>Inclure l\u2019extension des lignes directrices B-20 et B-21 du Bureau du<br>surintendant des institutions financi\u00e8res (BSIF) pour qu\u2019elles s\u2019appliquent \u00e0<br>toutes les institutions financi\u00e8res fournissant un financement hypoth\u00e9caire<br>r\u00e9sidentiel, en veillant \u00e0 ce qu\u2019une diligence raisonnable appropri\u00e9e \u2013 telle<br>que des inspections sur place et des \u00e9valuations par des tiers \u2013 soit exerc\u00e9e.<\/li>\n\n\n\n<li>Inclure les \u00c9valuateurs Professionnels (\u00c9. Pro.) et les autres personnes<br>impliqu\u00e9es dans le processus d\u2019achat d\u2019un logement dans les travaux<br>visant \u00e0 d\u2019am\u00e9liorer les connaissances financi\u00e8res du public en mati\u00e8re<br>de pr\u00eats hypoth\u00e9caires, afin que les consommateurs comprennent<br>mieux les frais, les risques et les r\u00f4les des professionnels impliqu\u00e9s dans<br>le processus d\u2019achat d\u2019un logement des frais, des risques et des r\u00f4les<br>des professionnels impliqu\u00e9s dans le processus d\u2019achat d\u2019un logement.<br>Notes de fin<br>1 Indicateurs de vuln\u00e9rabilit\u00e9s financi\u00e8res<br>2 Fa\u00e7onner notre avenir \u00e9conomique : Priorit\u00e9s canadiennes<br>(F\u00e9vrier 2024 \/ 44e L\u00e9gislature, 1re session)<br>Canadian Property Valuation | \u00c9valuation 70 immobili\u00e8re au Canada Return to CONTENTS<br>D\u00c9FENSE DES INT\u00c9R\u00caTS<br>RECOMMANDATION # 2 :<br>Inclure les \u00c9valuateurs Professionnels (\u00c9. Pro.) dans les initiatives cl\u00e9s en mati\u00e8re de logement du budget f\u00e9d\u00e9ral 2024<br>L\u2019ICE demande au gouvernement f\u00e9d\u00e9ral de garantir la participation<br>des \u00c9valuateurs Professionnels (\u00c9. Pro.) aux principales initiatives en<br>mati\u00e8re de logement d\u00e9crites dans le budget f\u00e9d\u00e9ral 2024, en particulier<br>le plan de construction de logements sur les terres publiques et la<br>conversion de bureaux f\u00e9d\u00e9raux sous-utilis\u00e9s en logements.<br>RAISON D\u2019\u00caTRE :<br>Plan de construction de logements sur les terres publiques<br>Annonc\u00e9 dans le budget 2024, le plan de construction de logements<br>sur les terres publiques vise \u00e0 d\u00e9bloquer 250 000 nouveaux logements<br>d\u2019ici 2031 en convertissant des terrains publics en logements. Ce plan<br>pr\u00e9voit un examen complet des terrains appartenant au gouvernement<br>f\u00e9d\u00e9ral afin d\u2019identifier des sites pour la construction de nouveaux<br>logements, des consultations avec des partenaires municipaux<br>et provinciaux, et la cr\u00e9ation d\u2019un Conseil d\u2019action sur les terres<br>publiques afin de coordonner ces efforts. Compte tenu de l\u2019ampleur<br>et de l\u2019importance de cette initiative, il est essentiel que des experts<br>en \u00e9valuation participent \u00e0 l\u2019identification des terrains et \u00e0 l\u2019\u00e9valuation<br>de ces propri\u00e9t\u00e9s. Le gouvernement f\u00e9d\u00e9ral doit s\u2019assurer qu\u2019il prend<br>des d\u00e9cisions \u00e9clair\u00e9es dans l\u2019int\u00e9r\u00eat public, sur la base d\u2019\u00e9valuations<br>pr\u00e9cises de la juste valeur marchande (JVM).<br>Conversion de bureaux<br>Le plan du gouvernement f\u00e9d\u00e9ral visant \u00e0 convertir des bureaux<br>f\u00e9d\u00e9raux sous-utilis\u00e9s en habitations, soutenu par un investissement<br>de 1,1 milliard de dollars sur 10 ans, pr\u00e9sente un autre besoin pour<br>l\u2019expertise des membres de l\u2019ICE. Les \u00c9valuateurs Professionnels<br>(\u00c9. Pro.) peuvent aider \u00e0 identifier les b\u00e2timents appropri\u00e9s pour<br>la conversion, \u00e0 \u00e9valuer les co\u00fbts d\u2019entretien diff\u00e9r\u00e9s et \u00e0 \u00e9valuer<br>la faisabilit\u00e9 globale de ces projets. Des \u00e9valuations pr\u00e9cises sont<br>essentielles pour d\u00e9terminer l\u2019utilisation optimale de ces propri\u00e9t\u00e9s,<br>garantissant ainsi au public que les investissements du gouvernement<br>dans le logement sont solides et durables. \u00c0 une \u00e9poque o\u00f9 le co\u00fbt de la<br>vie s\u2019approche d\u2019un niveau de crise, le gouvernement f\u00e9d\u00e9ral doit faire<br>preuve de leadership, de responsabilit\u00e9 et de rigueur budg\u00e9taire dans<br>la mise en oeuvre de ces mesures ax\u00e9es sur le logement.<br>Taxation des terrains vacants et assurance contre les inondations<br>Le budget f\u00e9d\u00e9ral 2024 propose \u00e9galement des mesures visant \u00e0 taxer<br>les terrains vacants zon\u00e9s r\u00e9sidentiels afin d\u2019encourager la construction<br>et \u00e0 faire progresser l\u2019assurance nationale contre les inondations,<br>deux mesures qui n\u00e9cessitent l\u2019expertise essentielle des \u00c9valuateurs<br>Professionnels (\u00c9. Pro.). Des \u00e9valuations pr\u00e9cises effectu\u00e9es par<br>des tiers sont essentielles pour d\u00e9terminer la taxe appropri\u00e9e sur<br>les terrains vacants, en veillant \u00e0 ce qu\u2019elle refl\u00e8te la valeur r\u00e9elle<br>du march\u00e9. De m\u00eame, les \u00e9valuateurs experts peuvent fournir des<br>informations inestimables sur l\u2019\u00e9valuation des propri\u00e9t\u00e9s \u00e0 haut risque<br>d\u2019inondation, contribuant ainsi au d\u00e9veloppement d\u2019un march\u00e9 du<br>logement plus r\u00e9silient.<br>ACTIONS N\u00c9CESSAIRES :<br>Nous exhortons le gouvernement f\u00e9d\u00e9ral \u00e0 reconna\u00eetre le r\u00f4le vital<br>que les \u00c9valuateurs Professionnels (\u00c9. Pro.) jouent pour assurer le<br>succ\u00e8s des initiatives de logement et d\u2019infrastructure entreprises par le<br>gouvernement f\u00e9d\u00e9ral. En incorporant formellement les services des<br>\u00c9. Pro. dans la planification, le d\u00e9veloppement et l\u2019ex\u00e9cution des projets<br>d\u00e9crits dans le budget f\u00e9d\u00e9ral 2024, le gouvernement f\u00e9d\u00e9ral peut :<\/li>\n\n\n\n<li>Am\u00e9liorer l\u2019efficacit\u00e9 de ses strat\u00e9gies et veiller \u00e0 ce qu\u2019une diligence<br>raisonnable soit exerc\u00e9e lors de l\u2019utilisation de fonds publics.<\/li>\n\n\n\n<li>Contribuer \u00e0 la stabilit\u00e9 et \u00e0 l\u2019accessibilit\u00e9 \u00e0 long terme du march\u00e9<br>du logement au Canada.<\/li>\n\n\n\n<li>Veiller \u00e0 ce que ces initiatives soient align\u00e9es sur les objectifs plus<br>larges du gouvernement f\u00e9d\u00e9ral visant \u00e0 am\u00e9liorer l\u2019accessibilit\u00e9<br>du logement et \u00e0 augmenter l\u2019offre.<\/li>\n\n\n\n<li>Int\u00e9grer des principes financiers et des m\u00e9thodes d\u2019\u00e9valuation<br>solides dans les phases de planification et de d\u00e9veloppement afin<br>de s\u2019assurer que les nouveaux projets de logement reposent sur des<br>\u00e9valuations de march\u00e9 pr\u00e9cises.<br>Alors que nous traversons une p\u00e9riode \u00e9conomique difficile, il<br>est essentiel que le gouvernement f\u00e9d\u00e9ral adopte des politiques<br>qui soutiennent les acheteurs et les propri\u00e9taires tout en<br>pr\u00e9servant la sant\u00e9 de notre syst\u00e8me financier et de notre<br>march\u00e9 immobilier. La mise en oeuvre des recommandations<br>de l&rsquo;ICE contribuera \u00e0 att\u00e9nuer les risques du march\u00e9, \u00e0 rendre<br>le logement plus abordable pour les candidats \u00e0 l&rsquo;accession \u00e0 la<br>propri\u00e9t\u00e9 et \u00e0 am\u00e9liorer la compr\u00e9hension du syst\u00e8me de pr\u00eat<br>hypoth\u00e9caire par le public.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 71<br>EQUITY, DIVERSITY AND INCLUSION (EDI)<br>n an ever-evolving real estate industry,<br>the need for diverse, skilled, and<br>innovative leaders is more pressing<br>than ever. The Real Estate, Education,<br>Thought Leadership (REET) Institute is at the<br>forefront of addressing this need by offering<br>a unique program designed to train, develop,<br>and mentor high school students to become<br>the next generation of investors, owners, and<br>leaders in the commercial real estate industry.<br>The REET Institute\u2019s program is not your<br>typical classroom experience. Instead, it<br>offers an immersive, hybrid eight-week<br>experience that includes learning from and<br>networking with industry professionals. Each<br>cohort has a target size of 20-25 scholars,<br>ensuring a personalized and impactful<br>learning environment. Through handson<br>learning opportunities, students gain<br>valuable insights into the commercial real<br>estate industry, develop critical skills, and<br>build a network of mentors and peers that<br>will support them on their journey to success.<br>One of the driving forces behind the REET<br>Institute is Andrel Wisdom, REET Institute<br>Founder and Senior Valuations Manager, Real<br>Estate at Alberta Investment Management<br>Company. His influence and leadership have<br>been pivotal in shaping the vision of the REET<br>Institute, steering the organization toward<br>a commitment to empowering the next<br>generation in real estate.<br>Whereas many real estate professionals<br>attest to the experience of simply \u2018falling<br>into\u2019 the industry, the REET Institute\u2019s<br>eight-week program is designed to<br>intentionally open doors for young people<br>to explore the real estate sector and find<br>their place within it. To achieve this, youth<br>are introduced to new career avenues and<br>learning opportunities, covering essential<br>topics including:<\/li>\n\n\n\n<li>The Six Steps of the Acquisition Process<\/li>\n\n\n\n<li>Searching for Opportunities<\/li>\n\n\n\n<li>Determining the Value of Real Estate<\/li>\n\n\n\n<li>Finding the Capital to Pay for a Property<\/li>\n\n\n\n<li>Adding Value to Your Investment<\/li>\n\n\n\n<li>Real Estate Presentation Strategies<\/li>\n\n\n\n<li>Closing the Deal<br>Through this comprehensive approach,<br>the REET Institute empowers the next<br>generation to navigate and thrive in the real<br>estate industry.<br>One of the key features of the REET<br>Institute\u2019s program is a Dragon\u2019s Denstyle<br>pitch competition, where students<br>showcase their knowledge, skills, and<br>creativity. This competition not only<br>provides students with real-world<br>experience pitching their ideas to industry<br>professionals, but it also gives them<br>the chance to compete for a $10,000<br>scholarship to further their education and<br>career goals.<br>In 2024, the REET Institute offered its<br>program in Edmonton and Calgary, with the<br>Appraisal Institute of Canada (AIC) serving<br>as the Exposure Session sponsor. This<br>Exposure Session presented scholars with an<br>invaluable opportunity to explore stunning<br>properties in both cities; in Edmonton, they<br>visited Rogers Place, Edmonton Tower,<br>and Sky Residences, while in Calgary,<br>they explored The Ampersand. Through<br>these experiences, the scholars engaged<br>in insightful and meaningful dialogue<br>with property owners and managers,<br>gaining a deeper understanding of building<br>management, property history, and unique<br>property characteristics.<br>Other supporting program partners<br>include the Alberta Real Estate Foundation,<br>Altus Group, Ryan, BOMA, NAIOP, CREW,<br>ONE Properties, Oxford Group, and Candarel.<br>These partnerships demonstrate the<br>industry-wide support for the REET Institute\u2019s<br>mission to empower the next generation of<br>commercial real estate leaders.<br>The REET Institute offers various ways<br>to get involved, including sponsorship,<br>volunteering, internships, and job<br>opportunities. Additionally, the REET<br>Institute extends its commitment to<br>equity, diversity, and inclusion (EDI) in<br>the real estate industry by offering free<br>online training to industry partners.<br>Empowering the next generation of commercial real estate leaders<br>The REET Institute\u2019s<br>innovative approach to training<br>high school students<br>BY MICHELLE OKERE, CO-FOUNDER \u2013 REET INSTITUTE,<br>PRINCIPAL | VALUATOR, THE REAL ESTATE CONSULTING GROUP OF CANADA LTD. (RECG)<br>Canadian Property Valuation | \u00c9valuation 72 immobili\u00e8re au Canada Return to CONTENTS<br>EQUITY, DIVERSITY AND INCLUSION (EDI)<br>By engaging with the REET Institute in these<br>capacities, individuals and organizations<br>can contribute to the development of future<br>leaders in the industry and make a positive<br>impact on the real estate community.<br>To date, the REET Institute has seen<br>50 students successfully complete the<br>program. These students have benefited<br>from an immersive learning experience<br>that prepares them for careers in the<br>commercial real estate industry.<br>Since its inception, the REET<br>Institute has also provided more than<br>$40,000 in scholarships and prizes to<br>scholars, offering financial support and<br>encouragement for their academic and<br>career pursuits. Five of our scholars<br>have gone on to participate in internship<br>opportunities, gaining valuable real-world<br>experience and industry connections. Each<br>year, alumni return to support the next<br>cohort as guest speakers, co-facilitators,<br>and judges at the pitch competition,<br>creating a cycle of mentorship and support<br>that strengthens the program\u2019s impact and<br>fosters a sense of community and continuity<br>among participants.<br>By offering this comprehensive, hands-on<br>program that combines education,<br>mentorship, and real-world experience,<br>the REET Institute has empowered these<br>high school students to pursue careers in<br>commercial real estate and make a positive<br>impact on the industry.<br>These outcomes showcase the tangible<br>and lasting effects of the organization\u2019s<br>innovative approach to training high school<br>students and empowering them to succeed<br>in the commercial real estate industry.<br>Looking to the future, the REET Institute<br>has its eye on expansion. Youth living in<br>rural and remote communities face unique<br>challenges, including limited access to<br>educational resources, mentorship, and<br>networking opportunities. This lack of<br>exposure to the commercial real estate<br>industry hinders their ability to pursue<br>careers in this field. Through partnerships<br>and the launch of a mobile app in the fall,<br>the REET Institute will aim to reach rural<br>and remote communities, ensuring that all<br>students have access to the knowledge,<br>skills, and mentorship needed to succeed in<br>the commercial real estate industry.<br>To learn more about the REET Institute<br>and how you can support our mission, visit:<br>https:\/\/reetinstitute.learnworlds.com.<br>By offering this comprehensive, hands-on program<br>that combines education, mentorship, and<br>real-world experience, the REET Institute has<br>empowered these high school students to pursue<br>careers in commercial real estate and make a<br>positive impact on the industry.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 73<br>\u00c9QUIT\u00c9, DIVERSIT\u00c9 ET INCLUSION (EDI)<br>Dans un secteur immobilier<br>en constante \u00e9volution,<br>le besoin de leaders<br>diversifi\u00e9s, comp\u00e9tents<br>et innovants est plus pressant que<br>jamais. Le Real Estate, Education, Thought<br>Leadership Institute (l\u2019Institut REET) est en<br>premi\u00e8re ligne pour r\u00e9pondre \u00e0 ce besoin en<br>proposant un programme unique con\u00e7u pour<br>former, d\u00e9velopper et encadrer les \u00e9tudiants<br>du secondaire afin qu\u2019ils deviennent la<br>prochaine g\u00e9n\u00e9ration d\u2019investisseurs, de<br>propri\u00e9taires et de leaders dans le secteur<br>de l\u2019immobilier commercial.<br>Le programme de l\u2019Institut REET ne se<br>limite pas \u00e0 une salle de classe classique.<br>Il s\u2019agit plut\u00f4t d\u2019une exp\u00e9rience immersive<br>et hybride de 8 semaines qui comprend<br>l\u2019apprentissage et le r\u00e9seautage avec des<br>professionnels de l\u2019industrie. Chaque cohorte<br>est compos\u00e9e de 20 \u00e0 25 \u00e9tudiants, ce qui<br>garantit un environnement d\u2019apprentissage<br>personnalis\u00e9 et efficace. Gr\u00e2ce \u00e0 des<br>opportunit\u00e9s d\u2019apprentissage pratique,<br>les \u00e9tudiants acqui\u00e8rent de pr\u00e9cieuses<br>connaissances sur le secteur de l\u2019immobilier<br>commercial, d\u00e9veloppent des comp\u00e9tences<br>essentielles et construisent un r\u00e9seau de<br>mentors et de pairs qui les soutiendront dans<br>leur cheminement vers la r\u00e9ussite.<br>L\u2019une des forces motrices de l\u2019Institut<br>REET est Andrel Wisdom, fondateur de<br>l\u2019Institut REET et gestionnaire principal<br>des \u00e9valuations de l\u2019immobilier, \u00e0 l\u2019Alberta<br>Investment Management Company.<br>Son influence et son leadership ont \u00e9t\u00e9<br>d\u00e9terminants dans l\u2019\u00e9laboration de la vision<br>de l\u2019Institut REET, orientant l\u2019organisation<br>vers un engagement visant \u00e0 donner \u00e0 la<br>prochaine g\u00e9n\u00e9ration de professionnels de<br>l\u2019immobilier les moyens d\u2019agir.<br>Alors que de nombreux professionnels<br>de l\u2019immobilier t\u00e9moignent du fait qu\u2019ils<br>sont simplement \u00ab tomb\u00e9s par hasard \u00bb dans<br>l\u2019industrie, le programme de huit semaines<br>de l\u2019Institut REET est con\u00e7u pour ouvrir<br>d\u00e9lib\u00e9r\u00e9ment des portes aux jeunes afin<br>qu\u2019ils explorent le secteur de l\u2019immobilier<br>et y trouvent leur place. Pour ce faire, les<br>jeunes sont initi\u00e9s \u00e0 de nouvelles carri\u00e8res et<br>\u00e0 de nouvelles possibilit\u00e9s d\u2019apprentissage,<br>couvrant des sujets essentiels tels que :<\/li>\n\n\n\n<li>Les six \u00e9tapes du processus d\u2019acquisition<\/li>\n\n\n\n<li>La recherche d\u2019opportunit\u00e9s<\/li>\n\n\n\n<li>D\u00e9terminer la valeur d\u2019un bien immobilier<\/li>\n\n\n\n<li>Trouver le capital n\u00e9cessaire pour<br>payer un bien immobilier<\/li>\n\n\n\n<li>Ajouter de la valeur \u00e0 votre<br>investissement<\/li>\n\n\n\n<li>Strat\u00e9gies de pr\u00e9sentation<br>des biens immobiliers<\/li>\n\n\n\n<li>Conclure l\u2019affaire<br>Gr\u00e2ce \u00e0 cette approche globale, l\u2019Institut<br>REET donne \u00e0 la prochaine g\u00e9n\u00e9ration les<br>moyens de naviguer et de prosp\u00e9rer dans le<br>secteur de l\u2019immobilier.<br>L\u2019une des principales caract\u00e9ristiques<br>du programme de l\u2019Institut REET est un<br>concours de pr\u00e9sentation de type Dragon\u2019s<br>Den, au cours duquel les \u00e9tudiants<br>pr\u00e9sentent leurs connaissances, leurs<br>comp\u00e9tences et leur cr\u00e9ativit\u00e9. Ce concours<br>permet non seulement aux \u00e9tudiants<br>d\u2019acqu\u00e9rir une exp\u00e9rience concr\u00e8te en<br>pr\u00e9sentant leurs id\u00e9es \u00e0 des professionnels<br>du secteur, mais il leur donne \u00e9galement la<br>possibilit\u00e9 de concourir pour une bourse de<br>10 000 $ afin de poursuivre leurs \u00e9tudes et<br>leurs objectifs de carri\u00e8re.<br>En 2024, l\u2019Institut REET a offert son<br>programme \u00e0 Edmonton et \u00e0 Calgary,<br>l\u2019Institut canadien des \u00e9valuateurs (ICE)<br>\u00e9tant le commanditaire de la s\u00e9ance<br>d\u2019information. Cette session d\u2019exposition<br>a offert aux boursiers une occasion<br>inestimable d\u2019explorer des propri\u00e9t\u00e9s<br>\u00e9tonnantes dans les deux villes; \u00e0<br>Edmonton, ils ont visit\u00e9 Rogers Place,<br>Edmonton Tower et Sky Residences,<br>tandis qu\u2019\u00e0 Calgary, ils ont explor\u00e9 The<br>Ampersand. Gr\u00e2ce \u00e0 ces exp\u00e9riences,<br>les boursiers ont engag\u00e9 un dialogue<br>perspicace et significatif avec les<br>propri\u00e9taires et les gestionnaires de biens<br>immobiliers, ce qui leur a permis de mieux<br>comprendre la gestion des b\u00e2timents,<br>Donner \u00e0 la prochaine g\u00e9n\u00e9ration de leaders<br>de l\u2019immobilier commercial les moyens d\u2019agir :<br>L\u2019approche innovante de<br>l\u2019Institut REET pour la formation<br>des \u00e9tudiants du secondaire<br>PAR MICHELLE OKERE, COFONDATRICE DE L\u2019INSTITUT REET<br>Canadian Property Valuation | \u00c9valuation 74 immobili\u00e8re au Canada Return to CONTENTS<br>\u00c9QUIT\u00c9, DIVERSIT\u00c9 ET INCLUSION (EDI)<br>l\u2019histoire des biens et les caract\u00e9ristiques<br>uniques de ces derniers.<br>Les autres partenaires du programme<br>sont l\u2019Alberta Real Estate Foundation,<br>Altus Group, Ryan, BOMA, NAIOP, CREW,<br>ONE Properties, Oxford Group et Candarel.<br>Ces partenariats t\u00e9moignent du soutien<br>de l\u2019ensemble du secteur \u00e0 la mission<br>de l\u2019Institut REET, qui consiste \u00e0 former<br>la prochaine g\u00e9n\u00e9ration de leaders de<br>l\u2019immobilier commercial.<br>L\u2019Institut REET propose diff\u00e9rentes<br>fa\u00e7ons de s\u2019impliquer, notamment le<br>parrainage, le b\u00e9n\u00e9volat, les stages et<br>les offres d\u2019emploi. L\u2019Institut REET \u00e9tend<br>\u00e9galement son engagement \u00e0 l\u2019\u00e9quit\u00e9, la<br>diversit\u00e9 et l\u2019inclusion (EDI) dans l\u2019industrie<br>immobili\u00e8re en offrant une formation<br>en ligne gratuite aux partenaires de<br>l\u2019industrie. En s\u2019engageant avec l\u2019Institut<br>REET dans ces capacit\u00e9s, les individus<br>et les organisations peuvent contribuer<br>au d\u00e9veloppement des futurs leaders de<br>l\u2019industrie et avoir un impact positif sur la<br>communaut\u00e9 immobili\u00e8re.<br>\u00c0 ce jour, l\u2019Institut REET a vu 50 \u00e9tudiants<br>terminer le programme avec succ\u00e8s. Ces<br>\u00e9tudiants ont b\u00e9n\u00e9fici\u00e9 d\u2019une exp\u00e9rience<br>d\u2019apprentissage immersive qui les pr\u00e9pare<br>\u00e0 des carri\u00e8res dans le secteur de<br>l\u2019immobilier commercial.<br>Depuis sa cr\u00e9ation, l\u2019Institut REET a<br>\u00e9galement octroy\u00e9 plus de 40 000 dollars de<br>bourses et de prix, offrant ainsi aux boursiers<br>un soutien financier et les encourageant<br>\u00e0 poursuivre leurs \u00e9tudes et leur carri\u00e8re.<br>Cinq de nos boursiers ont ensuite particip\u00e9<br>\u00e0 des stages, acqu\u00e9rant ainsi une pr\u00e9cieuse<br>exp\u00e9rience du monde r\u00e9el et des contacts<br>avec l\u2019industrie. Chaque ann\u00e9e, d\u2019anciens<br>\u00e9tudiants reviennent pour soutenir la cohorte<br>suivante en tant que conf\u00e9renciers invit\u00e9s,<br>coanimateurs et juges lors du concours<br>d\u2019auto-r\u00e9clame, cr\u00e9ant ainsi un cycle de<br>mentorat et de soutien qui renforce l\u2019impact<br>du programme et favorise un sentiment de<br>communaut\u00e9 et de continuit\u00e9 parmi<br>les participants.<br>En offrant ce programme complet<br>et pratique qui combine \u00e9ducation,<br>mentorat et exp\u00e9rience du monde r\u00e9el,<br>l\u2019Institut REET a donn\u00e9 \u00e0 ces \u00e9tudiants du<br>secondaire les moyens de poursuivre une<br>carri\u00e8re dans l\u2019immobilier commercial et<br>d\u2019avoir un impact positif sur le secteur.<br>Ces r\u00e9sultats illustrent les effets<br>tangibles et durables de l\u2019approche<br>innovante de l\u2019organisation pour former<br>les \u00e9tudiants du secondaire et leur donner<br>les moyens de r\u00e9ussir dans le secteur de<br>l\u2019immobilier commercial.<br>Pour l\u2019avenir, l\u2019Institut REET vise<br>l\u2019expansion. Les jeunes vivant dans<br>des communaut\u00e9s rurales et \u00e9loign\u00e9es<br>sont confront\u00e9s \u00e0 des d\u00e9fis uniques,<br>notamment un acc\u00e8s limit\u00e9 aux ressources<br>\u00e9ducatives, au mentorat et aux possibilit\u00e9s<br>de r\u00e9seautage. Ce manque d\u2019exposition<br>au secteur de l\u2019immobilier commercial<br>entrave leur capacit\u00e9 \u00e0 poursuivre<br>une carri\u00e8re dans ce domaine. Gr\u00e2ce<br>\u00e0 des partenariats et au lancement<br>d\u2019une application mobile \u00e0 l\u2019automne,<br>l\u2019Institut REET s\u2019efforcera d\u2019atteindre<br>les communaut\u00e9s rurales et isol\u00e9es,<br>en veillant \u00e0 ce que tous les \u00e9tudiants<br>aient acc\u00e8s aux connaissances, aux<br>comp\u00e9tences et au mentorat n\u00e9cessaires<br>pour r\u00e9ussir dans le secteur de<br>l\u2019immobilier commercial.<br>Pour en savoir plus sur l\u2019Institut REET<br>et sur la mani\u00e8re dont vous pouvez<br>soutenir sa mission, consultez le site :<br>https:\/\/reetinstitute.learnworlds.com.<br>En offrant ce programme complet et pratique qui<br>combine \u00e9ducation, mentorat et exp\u00e9rience du<br>monde r\u00e9el, l&rsquo;Institut REET a donn\u00e9 \u00e0 ces \u00e9tudiants<br>du secondaire les moyens de poursuivre une<br>carri\u00e8re dans l&rsquo;immobilier commercial et d&rsquo;avoir<br>un impact positif sur le secteur.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 75<br>Curiosity, enthusiasm, and a genuine passion for<br>what she does make Alisa Zorina a true professional<br>Q. Congratulations on being chosen as one of the 2024<br>recipients of the Appraisal Institute of Canada\u2019s<br>Tyler Beatty Award for Rising Stars. What does winning<br>this award mean to you, personally and professionally?<br>I am truly honored, proud, and excited to be recognized with such<br>a prestigious award. When I shared the news on my social media,<br>people from the appraisal world as well as other professions<br>connected, or, in some cases, reconnected with me to offer their<br>congratulations. That alone has served as a catalyst for me to find<br>out what others are up to and to broaden my horizons. I am always<br>looking for ways to connect with more people, to learn from<br>them, and to make myself better.<br>Q. In addition to earning your Professional Appraiser<br>(P. App.) designation from the AIC and your<br>Post-Graduate Certificate in Real Property Valuation,<br>your educational background includes a Master of Business<br>Administration (with distinction) and a Certification in<br>Financial Forensics (CFF). You are also a Chartered Business<br>Valuator (CBV), a Chartered Accountant (CA), and a Chartered<br>Professional Accountant (CPA). How did real estate valuation<br>come to be a part of that mix?<br>I started my business career as an accountant because I believe<br>that accounting is foundational to every aspect of business.<br>If you know and understand the principles of accounting, it can<br>only improve your overall communication skills and knowledge<br>of all things related to business. I always had an idea that I<br>wanted to specialize in a business-related field and so business<br>valuation seemed to be a natural progression. After taking a real<br>estate course at the University of British Columbia in 2012, my<br>interests shifted from accounting to business valuation and I<br>never looked back.<br>One of my early revelations was that a great many business<br>owners prefer to own their own real estate. That means dealing<br>with complex real estate reports and the nuances and terminology<br>that come with it. I enjoyed the challenges of bringing these<br>two fields together and being able to offer knowledgeable,<br>easy-to-understand advice for my clients that covered both<br>bases. I started my own business valuation practice with a goal<br>of bringing business valuation and real estate valuation together.<br>Both sides have responded very well to the requirements and<br>considerations of the other. I absolutely love the process and find<br>it extremely rewarding.<br>Q. You are currently the principal of Zorina Consulting Ltd.<br>and a partner with Appraisal Effect Ltd. How did these<br>positions come about and what do they entail?<br>Zorina Consulting was the business valuation company I started<br>in 2017 when I left the accounting field. Meanwhile, my mother<br>had become a CRA through the Appraisal Institute of Canada<br>and had been working on residential appraisals for several years<br>through her own company Appraisal Effect Ltd. It was a natural<br>step for me to join her and bring business valuation into the mix.<br>She was delighted to work together in this fashion. I have been<br>encouraging her to get her commercial real estate designation<br>from the AIC (P. App., AACI) and I\u2019m hoping that may yet come to pass.<br>Alisa Zorina, P. App., AACI.<br>THE FUTURE IS BRIGHT<br>I am always looking for ways<br>to connect with more people,<br>to learn from them, and to make<br>myself better.<br>Canadian Property Valuation | \u00c9valuation 76 immobili\u00e8re au Canada Return to CONTENTS<br>THE FUTURE IS BRIGHT<br>After starting my own business valuation company, I looked<br>to enhance my business knowledge further with a Master of<br>Business Administration, which I completed in 2019. I then<br>focused on earning my Post-Graduate Certificate in Real Property<br>Valuation from UBC in 2020, followed by three years working<br>towards my P. App., AACI designation in 2022.<br>Q. Do you specialize in any particular areas of<br>real estate appraisal? If so, what are these areas<br>and why do you pursue them specifically?<br>Fueled by my inherent curiosity, I am very much a generalist.<br>I love to work on all aspects of a business\u2019s operation where<br>real estate is involved, but I also have a soft spot for residential<br>properties and the nuances that people deal with when they are<br>buying or selling a property. Right now, my business is probably<br>equal parts commercial and residential, and I am able to work on<br>everything from complex commercial projects to small residential<br>bungalows, from domestic assignments to international projects,<br>and to deal with such matters as shareholder disputes, litigation<br>support, forensic accounting\/fraud investigation, financial<br>statements, and income tax\/estate planning, to name a few.<br>Taking deep dives into all of these areas is incredibly interesting<br>work that I enjoy immensely.<br>Q. Earning your P. App., AACI designation was a<br>significant part of your professional development.<br>What was that process like?<br>Once I had achieved my Master in Business Administration, I<br>was hoping to fast-track the designation process. That did not<br>turn out to be the case and it took me three years to complete<br>my designation. I was extremely busy with assignments for my<br>business valuation company and was able to complete a number<br>of commercial appraisals with the assistance of designated<br>appraisers, but the progress report required for my designation<br>carried over two terms and proved to be a major undertaking.<br>The overall designation process was challenging, but also very<br>rewarding in that I learned a great deal about real estate, and was<br>able to expand my network of knowledgeable and experienced<br>appraisers. It was a great process overall.<br>Q. As well as having been mentored yourself, you are<br>a lecturer at the University of Toronto and you\u2019ve<br>made considerable contributions to the education<br>of others pursuing accounting, business valuation, and real<br>estate appraisal. Why do you feel it is important to share your<br>knowledge and experience with others through mentorship?<br>Having mentors means that you are never alone; you are part of a<br>group. While you are earning your designation, and even once you<br>have achieved it, there are always others in the profession to serve<br>as sounding boards for you, to share their knowledge with you,<br>and to provide you with guidance. When we share our knowledge<br>and experience, we also get a different perspective on what we<br>are doing ourselves, and we become better professionals.<br>Over the years, I have had exceptional instructors and mentors,<br>and I want others to have that as well. I love to get involved<br>and give back. Helping others get better and improving myself<br>however I can is what truly fuels me and drives me forward.<br>Q. Speaking about driving yourself forward, what are your<br>career aspirations and what motivates you to succeed?<br>It is pretty simple. I want to learn and discover new<br>approaches, to become a better professional, and to continue<br>to grow my business. My innate curiosity has created a love of<br>learning and a desire to do the absolute best I can for my clients.<br>I always ask myself: if the roles were reversed and I was the<br>client, would I be satisfied with the work being done? When you<br>get right down to it, what I do doesn\u2019t even seem like work to me!<br>I absolutely love everything about it.<br>Q.Do you see any barriers or roadblocks to your career path?<br>Not really. My mother has been a great role model for<br>me. She was always willing to express her opinions<br>and show me that anything is possible. I have also had a great<br>many male mentors who showed me that you can succeed in the<br>profession and the business world whether you are a male or<br>female. I am fortunate in that I see obstacles as challenges to<br>overcome and opportunities to seize.<br>Q. Do you have any advice or suggestions for people<br>entering the appraisal profession?<br>Be hungry and be curious. Ask why and how things are<br>being done. Look below the surface to get a genuine understanding<br>of what is going on. Embrace new technologies and investigate how<br>you can put them to work for you. Open up your professional tool<br>box as much as you can and bring your perspective to assignments<br>that will help others around you. I cannot emphasize enough how<br>important it is to develop a career-long commitment to Continuing<br>Professional Development. The world is changing all around us, but<br>this is a great time and place for us.<br>I am fortunate in that I see obstacles<br>as challenges to overcome and<br>opportunities to seize.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 77<br>La curiosit\u00e9, l\u2019enthousiasme et une v\u00e9ritable<br>passion pour ce qu\u2019elle font d\u2019Alisa Zorina<br>une v\u00e9ritable experte<br>Alisa Zorina, \u00c9. Pro., AACI<br>Q. F\u00e9licitations pour avoir \u00e9t\u00e9 choisie parmis les<br>r\u00e9cipiendaires 2024 du Prix \u00e9toiles montantes Tyler Beatty<br>de l\u2019Institut canadien des \u00e9valuateurs. Que signifie ce prix<br>pour vous, tant sur le plan personnel que professionnel ?<br>Je suis vraiment honor\u00e9e, fi\u00e8re et enthousiaste de recevoir un prix aussi<br>prestigieux. Lorsque j\u2019ai partag\u00e9 la nouvelle sur mes r\u00e9seaux sociaux,<br>des personnes du secteur de l\u2019\u00e9valuation ainsi que d\u2019autres professions<br>se sont connect\u00e9es ou, dans certains cas, ont repris contact avec moi<br>pour me f\u00e9liciter. Ce simple fait m\u2019a servi de catalyseur pour d\u00e9couvrir<br>ce que font les autres et \u00e9largir mes horizons. Je suis toujours \u00e0<br>la recherche de moyens d\u2019entrer en contact avec davantage de<br>personnes, d\u2019apprendre d\u2019elles et de m\u2019am\u00e9liorer.<br>Q. En plus d\u2019avoir obtenu votre titre d\u2019\u00c9valuateur<br>Professionnel (\u00c9. Pro.) de l\u2019ICE et votre certificat<br>d\u2019\u00e9tudes sup\u00e9rieures en \u00e9valuation des biens<br>immobiliers, vous d\u00e9tenez une ma\u00eetrise en administration<br>des affaires (avec distinction) et la certification Certified in<br>Financial Forensics (CFF). Vous \u00eates \u00e9galement Chartered<br>Business Valuator (CBV), Comptable agr\u00e9\u00e9e (CA) et Comptable<br>professionnelle agr\u00e9\u00e9e (CPA). Comment l\u2019\u00e9valuation immobili\u00e8re<br>s\u2019int\u00e8gre-t-elle dans cet ensemble de comp\u00e9tences ?<br>J\u2019ai commenc\u00e9 ma carri\u00e8re professionnelle en tant que comptable,<br>car je pense que la comptabilit\u00e9 est fondamentale pour tous les<br>aspects des affaires. Comprendre les principes de la comptabilit\u00e9,<br>cela ne peut qu\u2019am\u00e9liorer vos comp\u00e9tences g\u00e9n\u00e9rales en mati\u00e8re de<br>communication et votre connaissance de tous les aspects li\u00e9s aux<br>entreprises. J\u2019ai toujours eu l\u2019id\u00e9e de me sp\u00e9cialiser dans un domaine<br>li\u00e9 \u00e0 l\u2019entreprise et l\u2019\u00e9valuation d\u2019entreprise m\u2019a sembl\u00e9 \u00eatre une<br>progression naturelle. Apr\u00e8s avoir suivi un cours sur l\u2019immobilier \u00e0<br>l\u2019Universit\u00e9 de la Colombie-Britannique en 2012, mes int\u00e9r\u00eats se sont<br>d\u00e9plac\u00e9s de la comptabilit\u00e9 vers l\u2019\u00e9valuation d\u2019entreprise et je n\u2019ai<br>jamais regard\u00e9 en arri\u00e8re.<br>L\u2019une de mes premi\u00e8res r\u00e9v\u00e9lations a \u00e9t\u00e9 qu\u2019un grand nombre de<br>propri\u00e9taires d\u2019entreprises pr\u00e9f\u00e8rent poss\u00e9der leurs propres biens<br>immobiliers. Cela signifie qu\u2019il faut traiter des rapports complexes<br>sur l\u2019immobilier, ainsi que les nuances et la terminologie qui les<br>accompagnent. J\u2019ai aim\u00e9 relever le d\u00e9fi de r\u00e9unir ces deux domaines et<br>d\u2019\u00eatre en mesure d\u2019offrir \u00e0 mes clients des conseils \u00e9clair\u00e9s et faciles \u00e0<br>comprendre qui couvrent les deux bases. J\u2019ai cr\u00e9\u00e9 mon propre cabinet<br>d\u2019\u00e9valuation d\u2019entreprises dans le but de rapprocher l\u2019\u00e9valuation<br>d\u2019entreprises et l\u2019\u00e9valuation immobili\u00e8re. Les deux parties ont tr\u00e8s<br>bien r\u00e9pondu aux exigences et aux consid\u00e9rations de l\u2019autre. J\u2019adore<br>ce processus et je le trouve extr\u00eamement gratifiant.<br>Q. Vous \u00eates actuellement directrice de Zorina Consulting Ltd.<br>et partenaire chez Appraisal Effect Ltd. Comment ces<br>postes ont-ils \u00e9t\u00e9 cr\u00e9\u00e9s et en quoi consistent-ils ?<br>Zorina Consulting est la soci\u00e9t\u00e9 d\u2019\u00e9valuation d\u2019entreprises que j\u2019ai<br>cr\u00e9\u00e9e en 2017 lorsque j\u2019ai quitt\u00e9 le domaine de la comptabilit\u00e9.<br>Entre-temps, ma m\u00e8re \u00e9tait devenue CRA par l\u2019interm\u00e9diaire de<br>l\u2019Institut canadien des \u00e9valuateurs et travaillait sur des \u00e9valuations<br>r\u00e9sidentielles depuis plusieurs ann\u00e9es par le biais de sa propre<br>entreprise Appraisal Effect Ltd. C\u2019est tout naturellement que je l\u2019ai<br>rejointe et que j\u2019ai ajout\u00e9 l\u2019\u00e9valuation d\u2019entreprises \u00e0 ses activit\u00e9s.<br>Elle \u00e9tait ravie de travailler ensemble de cette mani\u00e8re. Je l\u2019ai<br>encourag\u00e9e \u00e0 obtenir la d\u00e9signation d\u2019\u00c9valuateur accr\u00e9dit\u00e9 de l\u2019Institut<br>canadien (\u00c9. Pro., AACI) et j\u2019esp\u00e8re que cela se concr\u00e9tisera.<br>Je suis toujours \u00e0 la recherche de<br>moyens d\u2019entrer en contact avec<br>davantage de personnes, d\u2019apprendre<br>d\u2019elles et de m\u2019am\u00e9liorer.<br>L&rsquo;AVENIR EST PROMETTEUR<br>Canadian Property Valuation | \u00c9valuation 78 immobili\u00e8re au Canada Return to CONTENTS<br>L&rsquo;AVENIR EST PROMETTEUR<br>Apr\u00e8s avoir cr\u00e9\u00e9 ma propre soci\u00e9t\u00e9 d\u2019\u00e9valuation d\u2019entreprises,<br>j\u2019ai cherch\u00e9 \u00e0 approfondir mes connaissances dans le domaine des<br>affaires en obtenant une ma\u00eetrise en administration des affaires, que<br>j\u2019ai termin\u00e9e en 2019. Je me suis ensuite concentr\u00e9e sur l\u2019obtention<br>d\u2019un Post-Graduate Certificate in Real Property Valuation de<br>l\u2019Universit\u00e9 de la Colombie-Britannique en 2020, suivi de trois ann\u00e9es<br>de travail en vue d\u2019obtenir ma d\u00e9signation \u00c9. Pro., AACI en 2022.<br>Q. Vous sp\u00e9cialisez-vous dans un domaine particulier de<br>l\u2019\u00e9valuation immobili\u00e8re ? Si oui, quels sont ces domaines<br>et pourquoi les poursuivez-vous en particulier ?<br>Aliment\u00e9e par ma curiosit\u00e9 inh\u00e9rente, je suis une g\u00e9n\u00e9raliste. J\u2019aime<br>travailler sur tous les aspects du fonctionnement d\u2019une entreprise o\u00f9<br>l\u2019immobilier est impliqu\u00e9, mais j\u2019ai aussi un faible pour les propri\u00e9t\u00e9s<br>r\u00e9sidentielles et les nuances auxquelles les gens font face lorsqu\u2019ils<br>ach\u00e8tent ou vendent une propri\u00e9t\u00e9. \u00c0 l\u2019heure actuelle, mon activit\u00e9<br>est probablement \u00e0 parts \u00e9gales commerciale et r\u00e9sidentielle, et je<br>suis en mesure de travailler sur tout, depuis les projets commerciaux<br>complexes jusqu\u2019aux petits bungalows r\u00e9sidentiels, depuis les<br>contrats de service nationaux jusqu\u2019aux projets internationaux, et<br>de traiter des questions telles que les conflits entre actionnaires,<br>l\u2019assistance en cas de litige, la comptabilit\u00e9 l\u00e9gale\/les enqu\u00eates sur<br>les fraudes, les \u00e9tats financiers et l\u2019imp\u00f4t sur le revenu\/la planification<br>successorale, pour n\u2019en citer que quelques-unes. Le fait de plonger<br>en profondeur dans tous ces domaines est un travail incroyablement<br>int\u00e9ressant que j\u2019appr\u00e9cie \u00e9norm\u00e9ment.<br>Q. L\u2019obtention de la d\u00e9signation \u00c9. Pro., AACI a constitu\u00e9<br>une part importante de votre d\u00e9veloppement<br>professionnel. Comment s\u2019est d\u00e9roul\u00e9 ce processus ?<br>Quand j\u2019ai obtenu ma ma\u00eetrise en administration des affaires, j\u2019ai cru<br>que je pourrais acc\u00e9l\u00e9rer le processus d\u2019obtention de ma d\u00e9signation.<br>Cela n\u2019a pas \u00e9t\u00e9 le cas et il m\u2019a fallu trois ans pour obtenir ma<br>d\u00e9signation. J\u2019\u00e9tais tr\u00e8s occup\u00e9 par les contrats de service de ma<br>soci\u00e9t\u00e9 d\u2019\u00e9valuation d\u2019entreprises et j\u2019ai pu r\u00e9aliser un certain nombre<br>d\u2019\u00e9valuations commerciales avec l\u2019aide d\u2019\u00e9valuateurs d\u00e9sign\u00e9s, mais le<br>rapport d\u2019avancement requis pour ma d\u00e9signation s\u2019\u00e9tendait sur deux<br>trimestres et s\u2019est av\u00e9r\u00e9 \u00eatre une entreprise de grande envergure.<br>Dans l\u2019ensemble, le processus de d\u00e9signation a \u00e9t\u00e9 difficile, mais aussi<br>tr\u00e8s gratifiant, car j\u2019ai beaucoup appris sur l\u2019immobilier et j\u2019ai pu \u00e9largir<br>mon r\u00e9seau d\u2019\u00e9valuateurs comp\u00e9tents et exp\u00e9riment\u00e9s. Ce fut, tout<br>compte fait, un excellent processus.<br>Q. En plus d\u2019avoir \u00e9t\u00e9 vous-m\u00eame encadr\u00e9e, vous \u00eates<br>charg\u00e9e de cours \u00e0 l\u2019Universit\u00e9 de Toronto et vous avez<br>apport\u00e9 une contribution consid\u00e9rable \u00e0 la formation<br>d\u2019autres personnes dans les domaines de la comptabilit\u00e9, de<br>l\u2019\u00e9valuation d\u2019entreprise et de l\u2019\u00e9valuation immobili\u00e8re. Pourquoi<br>pensez-vous qu\u2019il est important de partager vos connaissances et<br>votre exp\u00e9rience avec les autres par le biais du mentorat ?<br>Le fait d\u2019avoir des mentors signifie que vous n\u2019\u00eates jamais seul ; vous<br>faites partie d\u2019un groupe. Pendant que vous travaillez \u00e0 l\u2019obtention<br>de votre d\u00e9signation, et m\u00eame une fois que vous l\u2019avez obtenue,<br>il y a toujours d\u2019autres personnes dans la profession qui peuvent<br>vous servir de caisse de r\u00e9sonance, partager leurs connaissances<br>avec vous et vous donner des conseils. Lorsque nous partageons<br>nos connaissances et notre exp\u00e9rience, nous obtenons \u00e9galement<br>une perspective diff\u00e9rente sur ce que nous faisons nous-m\u00eames, et<br>nous devenons de meilleurs professionnels.<br>Au fil des ans, j\u2019ai eu des instructeurs et des mentors<br>exceptionnels, et je veux que d\u2019autres puissent en faire autant.<br>J\u2019aime m\u2019impliquer et rendre la pareille. Aider les autres \u00e0<br>s\u2019am\u00e9liorer et m\u2019am\u00e9liorer moi-m\u00eame dans la mesure du possible,<br>c\u2019est ce qui me nourrit et me fait avancer.<br>Q. Puisque vous parlez d\u2019aller de l\u2019avant, quelles sont<br>vos aspirations professionnelles et qu\u2019est-ce qui vous<br>motive \u00e0 r\u00e9ussir ?<br>C\u2019est tr\u00e8s simple. Je veux apprendre et d\u00e9couvrir de nouvelles<br>approches, devenir une meilleure professionnelle et continuer \u00e0<br>d\u00e9velopper mon entreprise. Ma curiosit\u00e9 inn\u00e9e m\u2019a donn\u00e9 le go\u00fbt<br>d\u2019apprendre et le d\u00e9sir de faire de mon mieux pour mes clients. Je<br>me pose toujours la question suivante : si les r\u00f4les \u00e9taient invers\u00e9s<br>et que j\u2019\u00e9tais le client, serais-je satisfaite du travail accompli ? En<br>fait, ce que je fais ne me semble m\u00eame pas \u00eatre du travail ! J\u2019aime<br>absolument tout ce qui s\u2019y rapporte.<br>Q. Voyez-vous des obstacles ou des barri\u00e8res \u00e0 votre<br>cheminement de carri\u00e8re ?<br>Pas vraiment. Ma m\u00e8re a \u00e9t\u00e9 un excellent mod\u00e8le pour<br>moi. Elle \u00e9tait toujours pr\u00eate \u00e0 exprimer ses opinions et \u00e0 me<br>montrer que tout est possible. J\u2019ai \u00e9galement eu de nombreux<br>mentors masculins qui m\u2019ont montr\u00e9 que l\u2019on peut r\u00e9ussir dans la<br>profession et dans le monde des affaires, que l\u2019on soit un homme ou<br>une femme. J\u2019ai la chance de consid\u00e9rer les obstacles comme des<br>d\u00e9fis \u00e0 relever et des opportunit\u00e9s \u00e0 saisir.<br>Q. Avez-vous des conseils ou des suggestions \u00e0 faire aux<br>personnes qui se lancent dans la profession d\u2019\u00e9valuateur ?<br>Ayez faim et soyez curieux. Demandez pourquoi et<br>comment les choses sont faites. Regardez sous la surface pour<br>avoir une v\u00e9ritable compr\u00e9hension de ce qui se passe. Adoptez<br>les nouvelles technologies et cherchez \u00e0 savoir comment vous<br>pouvez les mettre \u00e0 votre service. Ouvrez votre bo\u00eete \u00e0 outils<br>professionnelle autant que vous le pouvez et partagez votre point<br>de vue afin d\u2019aider les autres autour de vous \u00e0 s\u2019acquitter de leurs<br>t\u00e2ches. Je ne saurais trop insister sur l\u2019importance de s\u2019engager<br>tout au long de sa carri\u00e8re dans le Perfectionnement professionnel<br>continu. Le monde change constamment tout autour de nous, mais<br>nous sommes au bon endroit au bon moment.<br>J\u2019ai la chance de consid\u00e9rer les<br>obstacles comme des d\u00e9fis \u00e0 relever<br>et des opportunit\u00e9s \u00e0 saisir.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 79<br>THE FUTURE IS BRIGHT<br>For Ben Ellens, success is \u2018all in the family\u2019<br>Q.Congratulations on recently being chosen as one<br>of the 2024 recipients of the Appraisal Institute of<br>Canada\u2019s (AIC) Tyler Beatty Award for Rising Stars.<br>What does winning this award mean to you from a personal and<br>career perspective?<br>First, allow me to say that I see this as an award for my parents as<br>well as myself. They have built their successful appraisal business<br>Ronald C. Ellens Appraisals Inc. for the past 40 years and have<br>been training me to be part of the company and the profession since<br>I was 13 years old. From a personal standpoint, it\u2019s truly validating<br>that their mentorship has led to this award.<br>Professionally, it is always an honor to be recognized by your<br>peers for how you\u2019re going about your business. There\u2019s a great deal<br>of competition in this profession and I definitely feel that winning<br>this award from an organization such as the AIC, with its outstanding<br>reputation around the globe, sets you apart in a meaningful way.<br>Q. As well as earning your Professional Appraiser (P. App.)<br>designation from the AIC, your educational background<br>includes a Master of Business Administration from Brock<br>University\u2019s Goodman School of Business, and a Diploma in Urban<br>Land Economics from the University of British Columbia\u2019s Sauder<br>School of Business. You are also an award-winning real estate<br>agent with Royal LePage NRC Realty in St. Catherines.<br>Is real estate valuation the main focus of your career?<br>I have been working in appraisal for about 10 years and only added<br>real estate sales into the mix about five years ago. That move was<br>the result of me wanting to provide clients with a sales option, if that<br>is what they required, and Royal LePage NRC and Royal LePage<br>Commercial have been very supportive in this regard. However,<br>having been raised in the family appraisal business, some might say<br>I was destined to go in this direction.<br>Seeing how hard my mom and dad both worked \u2013 and how much<br>they enjoyed what they did every day \u2013 made it easy to follow in their<br>footsteps. I also love the variety and scope of the work, as well as<br>the fact that, although you are required to work long hours, you can<br>usually work those hours around important family time.<br>Q. You are currently a senior appraiser in the family<br>business. What does that position entail and do you<br>specialize in any specific areas?<br>The plan is for me to take over the company when my parents retire,<br>so I have been concentrating on getting experience in every aspect of<br>what it takes to meet the varied needs of our clients. Whether a project<br>is residential or commercial, big or small, simple or complex, that means<br>being involved in all aspects of the valuation process from start to finish.<br>Q. What do you enjoy most about your day-to-day work?<br>Without question, it\u2019s the incredible variety of work and the<br>fact that I get to provide a vital service to a wide array of<br>people each and every day. I am constantly learning and trying to get<br>better at what I do so that I can give clients the best possible service<br>and ensure that I\u2019m helping them to the very best of my ability.<br>Q. At some point along the way, you decided to earn your P.<br>App., AACI designation. What was that process like?<br>Earning your designation is a long and demanding<br>process. However, the challenges it presents definitely ensure<br>that you are well prepared to succeed in the profession. I worked<br>extremely hard to complete the program in 3.5 years rather<br>than the 5-7 years it can take. I was very fortunate to have my<br>dad mentor me throughout the process and help me balance<br>the work required for my designation and the work required for<br>our company. There is no doubt that the very relevant courses,<br>Ben Ellens, P. App., AACI<br>Canadian Property Valuation | \u00c9valuation 80 immobili\u00e8re au Canada Return to CONTENTS<br>THE FUTURE IS BRIGHT<br>combined with the excellent case studies, provided me with the<br>knowledge and experience I need to serve my clients. My dad<br>always stressed the fact that \u201cpeople want to know you have<br>the knowledge and experience to meet their needs.\u201d The entire<br>designation process certainly enhanced my ability to do that.<br>Q. Your family has been involved with the real estate<br>valuation profession for close to 40 years.<br>What impact has that had on your career journey?<br>It is one thing for my parents to have operated a successful<br>appraisal business for four decades; it is another to have<br>established the credibility and reputation that they have. In both<br>the profession and the marketplace, my dad is very much respected<br>for his integrity and his quality of work. I can\u2019t overstate the value<br>of that. I feel truly privileged to be part of that legacy and I\u2019m<br>steadfastly committed to continuing it.<br>Q. In recent years, you have been a member of the<br>AIC\u2019s Advocacy Committee, both nationally and<br>provincially, and have previously served in volunteer<br>roles with the American Society of Farm Managers &amp; Rural<br>Appraisers, as well as the Niagara Association of Realtors.<br>Why do you feel that degree of involvement is important?<br>Without the AIC, our family would not have the business that we<br>have and I would not be where I am in my career. That being said,<br>I strongly believe that it\u2019s important to give back to our profession in<br>any way that I can.<br>With a Membership of more than 5,500 Professional<br>Appraisers, the AIC punches far above its weight class when it<br>comes to the sheer magnitude of real estate transactions we<br>help oversee. Many people, including politicians, don\u2019t fully<br>understand the role of appraisers and the way we touch every<br>part of the real estate industry. That\u2019s why I cherish my<br>involvement with the Ontario and National-level Advocacy<br>Committees as a means of spreading this message to our<br>governments and communities. I also try to ensure that the<br>same message regarding the value of real estate appraisal is<br>conveyed to my clients.<br>In addition to my advocacy work, I recently joined the AIC\u2019s<br>Admissions and Accreditation Committee so that I could help my<br>fellow Members realize the scope of services they can offer their<br>clients. We are among the most educated practitioners in the real<br>estate industry, and we must ensure that the value we can offer to<br>clients is fully understood and actualized.<br>Q. Going forward, what are your career aspirations?<br>Ideally, I want to continue my parents\u2019 legacy of being<br>the best appraiser I can possibly be and offer my clients<br>the best service that I can. While we may have to grow our business<br>to ensure that we can meet its financial needs and the ever-changing<br>demands of the marketplace, I want to continue being an<br>independent provider of appraisal services who is personally<br>involved in providing those services.<br>Q. What motivates you to succeed and how do you<br>measure that success?<br>You can pretty much sum it up in one word \u2013 family.<br>Naturally, I want to ensure that our company continues to be<br>successful \u2013 but even that comes back to family. My parents have<br>done so much to get me to this point in my life. If I can continue<br>what they started, that will be one box checked off. My wife<br>and I have a son and daughter who we want to provide for, be<br>involved with, and help become the best people they can be. I am<br>committed to making that happen.<br>We are among the most educated<br>practitioners in the real estate<br>industry, and we must ensure that<br>the value we can offer to clients is<br>fully understood and actualized.<br>Q. What advice would you give people who are entering<br>the profession?<br>One of the difficulties facing young appraisers is finding<br>a mentor. A supportive mentor is critically important to navigating<br>the learning process while also earning a living. Make connections<br>and put in the effort to find someone willing to sincerely work with<br>you along the way. Even if you have a mentor, I also recommend<br>calling different appraisers, including those outside your<br>geographic region, to pick their brains about the work they do<br>and what is involved in that work. Real estate appraisal is not one<br>dimensional. Ask questions and find out what the pros and cons are<br>of every aspect of the profession so that you can better decide what<br>interests you as you progress in your career.<br>Q. With your busy and developing career, how do you<br>spend your personal time away from work?<br>When our son was six years old, he suffered a potentially<br>life-altering pediatric stroke. It shook us to the core and we<br>got very involved in his road to recovery. That continues to<br>this day; we continue to be very involved in sports as a family,<br>including some coaching, as well as fundraising for the McMaster<br>Children\u2019s Hospital.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 81<br>Pour Ben Ellens, le succ\u00e8s est \u00ab une affaire de famille \u00bb<br>Q.F\u00e9licitations pour avoir \u00e9t\u00e9 r\u00e9cemment choisi comme<br>l\u2019un des laur\u00e9ats 2024 du Prix Tyler Beatty pour les<br>\u00e9toiles montantes d\u00e9cern\u00e9 par l\u2019Institut canadien des<br>\u00e9valuateurs (ICE). Que signifie ce prix pour vous d\u2019un point de vue<br>personnel et professionnel ?<br>Tout d\u2019abord, permettez-moi de dire que je consid\u00e8re ce prix<br>comme une r\u00e9compense pour mes parents et pour moi-m\u00eame. Ils<br>ont b\u00e2ti leur entreprise d\u2019\u00e9valuation Ronald C. Ellens Appraisals Inc.<br>au cours des 40 derni\u00e8res ann\u00e9es et m\u2019ont appris \u00e0 faire partie de<br>l\u2019entreprise et de la profession depuis l\u2019\u00e2ge de 13 ans. D\u2019un point de<br>vue personnel, le fait que leur mentorat m\u2019ait permis d\u2019obtenir ce<br>prix est une v\u00e9ritable validation.<br>Sur le plan professionnel, c\u2019est toujours un honneur d\u2019\u00eatre<br>reconnu par ses pairs pour sa fa\u00e7on de travailler. La concurrence<br>est intense dans cette profession et je pense que le fait de<br>recevoir ce prix d\u2019une organisation telle que l\u2019ICE, qui jouit d\u2019une<br>excellente r\u00e9putation dans le monde entier, vous distingue de<br>mani\u00e8re significative.<br>Q.En plus d\u2019avoir obtenu la d\u00e9signation d\u2019\u00c9valuateur<br>Professionnel de l\u2019ICE (\u00c9. Pro.), votre formation<br>comprend une ma\u00eetrise en administration des affaires<br>de la Goodman School of Business de l\u2019Universit\u00e9 Brock et un<br>dipl\u00f4me en \u00e9conomie des terrains urbains de la Sauder School<br>of Business de l\u2019Universit\u00e9 de la Colombie-Britannique. Vous<br>\u00eates \u00e9galement un agent immobilier prim\u00e9 de Royal LePage NRC<br>Realty \u00e0 St. Catherines. L\u2019\u00e9valuation immobili\u00e8re est-elle le<br>principal objectif de votre carri\u00e8re ?<br>Je travaille dans le domaine de l\u2019\u00e9valuation depuis une dizaine<br>d\u2019ann\u00e9es et je n\u2019ai ajout\u00e9 la vente de biens immobiliers \u00e0 mes<br>activit\u00e9s qu\u2019il y a environ cinq ans. Cette d\u00e9cision a \u00e9t\u00e9 prise parce<br>que je voulais offrir \u00e0 mes clients une option de vente, si c\u2019\u00e9tait<br>ce qu\u2019ils souhaitaient, et Royal LePage NRC et Royal LePage<br>Commercial m\u2019ont beaucoup soutenu \u00e0 cet \u00e9gard. Cependant,<br>ayant \u00e9t\u00e9 \u00e9lev\u00e9 dans l\u2019entreprise familiale d\u2019\u00e9valuation, certains<br>pourraient dire que j\u2019\u00e9tais destin\u00e9 \u00e0 prendre cette direction.<br>Ayant vu \u00e0 quel point ma m\u00e8re et mon p\u00e8re ont travaill\u00e9 dur \u2013 et<br>\u00e0 quel point ils aimaient ce qu\u2019ils faisaient chaque jour &#8211; il m\u2019a \u00e9t\u00e9<br>facile de suivre leurs traces. J\u2019aime aussi la vari\u00e9t\u00e9 et l\u2019envergure du<br>travail, ainsi que le fait que, bien que l\u2019on doive travailler de longues<br>heures, il est g\u00e9n\u00e9ralement possible d\u2019organiser ces heures en<br>fonction des moments importants pass\u00e9s en famille.<br>Q. Vous \u00eates actuellement \u00e9valuateur principal dans<br>l\u2019entreprise familiale. En quoi consiste ce poste et<br>\u00eates-vous sp\u00e9cialis\u00e9 dans un domaine particulier ?<br>Il est pr\u00e9vu que je prenne l\u2019entreprise en main lorsque mes parents<br>prendront leur retraite. Je me suis donc efforc\u00e9 d\u2019acqu\u00e9rir de<br>l\u2019exp\u00e9rience dans tous les domaines n\u00e9cessaires pour r\u00e9pondre aux<br>besoins vari\u00e9s de nos clients. Qu\u2019il s\u2019agisse d\u2019un projet r\u00e9sidentiel ou<br>commercial, grand ou petit, simple ou complexe, cela signifie que je<br>participe \u00e0 tous les aspects du processus d\u2019\u00e9valuation, du d\u00e9but \u00e0 la fin.<br>Q. Qu\u2019est-ce qui vous pla\u00eet le plus dans votre travail quotidien ?<br>Sans aucun doute, c\u2019est l\u2019incroyable vari\u00e9t\u00e9 du travail et le<br>fait que je puisse fournir un service vital \u00e0 un large \u00e9ventail<br>de personnes chaque jour. J\u2019apprends constamment et j\u2019essaie de<br>m\u2019am\u00e9liorer dans ce que je fais afin d\u2019offrir aux clients le meilleur service<br>possible et de m\u2019assurer que je les aide au mieux de mes capacit\u00e9s.<br>Q. \u00c0 un moment donn\u00e9, vous avez d\u00e9cid\u00e9 d\u2019obtenir le titre<br>de \u00c9. Pro., AACI. Comment s\u2019est d\u00e9roul\u00e9 ce processus ?<br>L\u2019obtention de cette d\u00e9signation est un processus long<br>et exigeant. Toutefois, les d\u00e9fis qu\u2019il pr\u00e9sente permettent de<br>s\u2019assurer que l\u2019on est bien pr\u00e9par\u00e9 pour r\u00e9ussir dans la profession.<br>J\u2019ai travaill\u00e9 tr\u00e8s dur pour terminer le programme en 3,5 ans au lieu<br>Ben Ellens, \u00c9. Pro., AACI<br>L&rsquo;AVENIR EST PROMETTEUR<br>Canadian Property Valuation | \u00c9valuation 82 immobili\u00e8re au Canada Return to CONTENTS<br>L&rsquo;AVENIR EST PROMETTEUR<br>des 5 \u00e0 7 ans qu\u2019il peut prendre. J\u2019ai eu la chance que mon p\u00e8re me<br>serve de mentor tout au long du processus et m\u2019aide \u00e0 concilier le<br>travail requis pour obtenir ma d\u00e9signation et le travail requis pour<br>notre entreprise. Il ne fait aucun doute que les cours tr\u00e8s pertinents,<br>combin\u00e9s aux excellentes \u00e9tudes de cas, m\u2019ont permis d\u2019acqu\u00e9rir<br>les connaissances et l\u2019exp\u00e9rience dont j\u2019ai besoin pour servir mes<br>clients. Mon p\u00e8re a toujours insist\u00e9 sur le fait que \u00ab les gens veulent<br>savoir que tu as les connaissances et l\u2019exp\u00e9rience n\u00e9cessaires pour<br>r\u00e9pondre \u00e0 leurs besoins \u00bb. L\u2019ensemble du processus de d\u00e9signation<br>a certainement renforc\u00e9 ma capacit\u00e9 \u00e0 le faire.<br>Q.Votre famille travaille dans le domaine de l\u2019\u00e9valuation<br>immobili\u00e8re depuis pr\u00e8s de 40 ans. Quel impact cela<br>a-t-il eu sur votre parcours professionnel ?<br>C\u2019est une chose pour mes parents d\u2019avoir exploit\u00e9 avec succ\u00e8s une<br>entreprise d\u2019\u00e9valuation pendant quatre d\u00e9cennies ; c\u2019en est une autre<br>d\u2019avoir \u00e9tabli la cr\u00e9dibilit\u00e9 et la r\u00e9putation qui sont les leurs. Dans<br>la profession et sur le march\u00e9, mon p\u00e8re est tr\u00e8s respect\u00e9 pour son<br>int\u00e9grit\u00e9 et la qualit\u00e9 de son travail. Je ne saurais trop insister sur la<br>valeur de ces qualit\u00e9s. Je me sens vraiment privil\u00e9gi\u00e9 de faire partie<br>de cet h\u00e9ritage et je m\u2019engage fermement \u00e0 le perp\u00e9tuer.<br>Q. Ces derni\u00e8res ann\u00e9es, vous avez \u00e9t\u00e9 membre du Comit\u00e9<br>de d\u00e9fense des int\u00e9r\u00eats de l\u2019ICE, tant au niveau national<br>que provincial, et vous avez pr\u00e9c\u00e9demment occup\u00e9 des<br>fonctions b\u00e9n\u00e9voles au sein de l\u2019American Society of Farm Managers<br>&amp; Rural Appraisers, ainsi que de la Niagara Association of Realtors.<br>Pourquoi pensez-vous que ce degr\u00e9 d\u2019implication est important ?<br>Sans l\u2019ICE, notre famille n\u2019aurait pas l\u2019entreprise que nous avons et je ne<br>serais pas l\u00e0 o\u00f9 j\u2019en suis dans ma carri\u00e8re. Cela dit, je crois fermement<br>qu\u2019il est important de rendre \u00e0 notre profession tout ce que je peux.<br>Avec un effectif de plus de 5 500 \u00c9valuateurs Professionnels,<br>l\u2019ICE est bien au-dessus de sa cat\u00e9gorie de poids lorsqu\u2019il s\u2019agit<br>de l\u2019ampleur des transactions immobili\u00e8res que nous aidons \u00e0<br>superviser. De nombreuses personnes, y compris des hommes<br>politiques, ne comprennent pas pleinement le r\u00f4le des \u00e9valuateurs<br>et la mani\u00e8re dont nous touchons \u00e0 tous les aspects du secteur<br>immobilier. C\u2019est pourquoi j\u2019appr\u00e9cie ma participation aux comit\u00e9s<br>de d\u00e9fense des int\u00e9r\u00eats au niveau de l\u2019Ontario et au niveau<br>national, car elle me permet de diffuser ce message aupr\u00e8s de nos<br>gouvernements et de nos communaut\u00e9s. J\u2019essaie \u00e9galement de<br>m\u2019assurer que le m\u00eame message concernant la valeur de l\u2019\u00e9valuation<br>immobili\u00e8re est transmis \u00e0 mes clients.<br>En plus de mon travail de promotion des int\u00e9r\u00eats de la profession, je<br>me suis joint r\u00e9cemment au Comit\u00e9 des admissions et de l\u2019accr\u00e9ditation<br>de l\u2019ICE afin d\u2019aider mes coll\u00e8gues membres \u00e0 prendre conscience de<br>l\u2019\u00e9tendue des services qu\u2019ils peuvent offrir \u00e0 leurs clients. Nous sommes<br>parmi les professionnels les mieux form\u00e9s du secteur de l\u2019immobilier<br>et nous devons veiller \u00e0 ce que la valeur que nous pouvons offrir \u00e0 nos<br>clients soit pleinement comprise et actualis\u00e9e.<br>Q.Quelles sont vos aspirations professionnelles pour l\u2019avenir ?<br>Id\u00e9alement, je souhaite poursuivre l\u2019h\u00e9ritage de mes<br>parents en \u00e9tant le meilleur \u00e9valuateur possible et en<br>offrant \u00e0 mes clients le meilleur service possible. M\u00eame s\u2019il est<br>possible que nous devions d\u00e9velopper notre entreprise pour<br>nous assurer de pouvoir r\u00e9pondre \u00e0 ses besoins financiers et aux<br>demandes en constante \u00e9volution du march\u00e9, je veux continuer<br>\u00e0 \u00eatre un fournisseur ind\u00e9pendant de services d\u2019\u00e9valuation qui<br>s\u2019implique personnellement dans la prestation de ces services.<br>Q. Qu\u2019est-ce qui vous motive \u00e0 r\u00e9ussir et comment<br>mesurez-vous cette r\u00e9ussite ?<br>Cela se r\u00e9sume en un mot : la famille. Naturellement, je veux<br>m\u2019assurer que notre entreprise continue \u00e0 r\u00e9ussir, mais m\u00eame cela<br>revient \u00e0 la famille. Mes parents ont fait beaucoup pour que j\u2019arrive \u00e0<br>ce stade de ma vie. Si je peux poursuivre ce qu\u2019ils ont commenc\u00e9, ce<br>sera une case coch\u00e9e. Ma femme et moi avons un fils et une fille dont<br>nous voulons subvenir aux besoins, avec lesquels nous voulons nous<br>impliquer et que nous voulons aider \u00e0 devenir les meilleures personnes<br>possibles. Je m\u2019engage \u00e0 faire en sorte que cela se produise.<br>Nous sommes parmi les<br>professionnels les mieux form\u00e9s<br>du secteur de l\u2019immobilier et nous<br>devons veiller \u00e0 ce que la valeur que<br>nous pouvons offrir \u00e0 nos clients soit<br>pleinement comprise et actualis\u00e9e.<br>Q.Quels conseils donneriez-vous aux personnes qui<br>entrent dans la profession ?<br>L\u2019une des difficult\u00e9s auxquelles sont confront\u00e9s les<br>jeunes \u00e9valuateurs est de trouver un mentor. Le soutien d\u2019un<br>mentor est d\u2019une importance capitale pour naviguer dans le<br>processus d\u2019apprentissage tout en gagnant sa vie. \u00c9tablissez<br>des contacts et faites l\u2019effort de trouver quelqu\u2019un qui soit pr\u00eat \u00e0<br>travailler sinc\u00e8rement avec vous tout au long de votre parcours.<br>M\u00eame si vous avez un mentor, je vous recommande \u00e9galement<br>d\u2019appeler diff\u00e9rents \u00e9valuateurs, y compris ceux qui ne sont pas de<br>votre r\u00e9gion g\u00e9ographique, pour leur demander de vous parler de<br>leur travail et de ce qu\u2019il implique. L\u2019\u00e9valuation immobili\u00e8re n\u2019est<br>pas unidimensionnelle. Posez des questions et d\u00e9couvrez les<br>avantages et les inconv\u00e9nients de chaque aspect de la profession<br>afin de mieux d\u00e9cider ce qui vous int\u00e9resse au fur et \u00e0 mesure que<br>vous progressez dans votre carri\u00e8re.<br>Q.Avec votre carri\u00e8re bien remplie et en pleine \u00e9volution,<br>comment occupez-vous votre temps personnel en<br>dehors du travail ?<br>Lorsque notre fils avait six ans, il a \u00e9t\u00e9 victime d\u2019un accident<br>vasculaire c\u00e9r\u00e9bral p\u00e9diatrique qui aurait pu changer sa vie. Cela<br>nous a profond\u00e9ment \u00e9branl\u00e9s et nous nous sommes beaucoup<br>impliqu\u00e9s dans son r\u00e9tablissement. Nous continuons \u00e0 \u00eatre tr\u00e8s<br>impliqu\u00e9s dans le sport en famille, y compris en tant qu\u2019entra\u00eeneurs,<br>et \u00e0 collecter des fonds pour l\u2019h\u00f4pital pour enfants McMaster.<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 83<br>The 2024 AIC National Conference, which took place<br>from June 5-8, 2024 in Charlottetown, PEI, brought<br>together hundreds of AIC Members from across the<br>country in an unforgettable weekend of networking,<br>exchange, and Continuing Professional Development.<br>In all, the Conference was enjoyed by more than 350 participants<br>and featured a whopping 23 education sessions delivered by AIC<br>Professional Appraisers (P. App.), plus a Candidate information<br>session, five key networking events, and one captivating plenary.<br>2024 AIC NATIONAL<br>CONFERENCE RECAP<br>The Conference afforded attendees the opportunity to make<br>new and lasting connections, deepen existing ties, and learn<br>from their fellow Members, all against the beautiful and historic<br>backdrop of Charlottetown.<br>Thank you to the Members, volunteers, sponsors, staff, and<br>speakers who contributed their time, energy, and resources to make<br>the 2024 AIC National Conference a tremendous success!<br>We look forward to another wonderful conference next year in<br>vibrant Montreal, Qu\u00e9bec from May 22-25, 2025.<br>Canadian Property Valuation | \u00c9valuation 84 immobili\u00e8re au Canada Return to CONTENTS<br>VOLUNTEER<br>RECOGNITION AWARDS<br>A major highlight of the AIC National Conference each year is the celebration of excellence<br>in professional appraisal, marked by the presentation of the following awards.<br>BEN ELLENS, P. APP., AACI<br>Ben\u2019s professional journey is marked by excellence and a commitment to his field,<br>as recognized by the Royal LePage National Top 10% Award (2022, 2023) and the<br>Diamond Award for being in the top 3% in Niagara (2022, 2023). Ben is also an active<br>champion of the AIC, serving on AIC Advocacy Committees at both the provincial and<br>national levels.<br>Ben\u2019s community involvement \u2013 organizing fundraising events for McMaster<br>Children\u2019s Hospital \u2013 is equally commendable. His efforts have raised significant<br>funds for the hospital, demonstrating his commitment to giving back and supporting<br>those in need.<br>ALISA ZORINA, P. APP., AACI<br>Alisa began her career in accounting, then quickly transitioned into business valuation<br>and earned her CBV designation. In 2017, Alisa established Zorina Consulting Ltd.,<br>a practice specializing in business valuation for litigation and tax support. At the<br>same time, she gained practical experience in residential and commercial appraisal,<br>culminating in her designation as a Professional Appraiser, AACI.<br>Alisa is also a lecturer at the University of Toronto and has presented numerous<br>times for the AIC Toronto Chapter and the AIC National Conference. She volunteers as<br>a treasurer on a Board of Directors in her community, assists with free tax clinics, and<br>contributes to various educational and professional development initiatives, including<br>developing and editing course content for the University of British Columbia.<br>2024 TYLER BEATTY AWARD FOR RISING STARS RECIPIENTS<br>Since 2016, the Tyler Beatty Award for Rising Stars has recognized exceptional Professional Appraisers who have achieved significant<br>accomplishments in their career and who have made noteworthy contributions to the appraisal profession. In 2022, the award was renamed<br>in honour of Tyler Beatty, P. App., AACI, who passed away in March of that year. Tyler was an exemplary volunteer with the AIC and a very<br>successful appraisal professional. This year\u2019s recipients are:<br>RECAP<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 85<br>RECAP<br>FELLOWSHIP RECIPIENTS<br>The title of Fellow is granted to Designated Members who have distinguished themselves by their exemplary contributions to the appraisal<br>profession. This is demonstrated by a high degree of excellence and achievement which contributes to the profession\u2019s advancement.<br>This year\u2019s recipient is:<br>CLAUDIO POLITO, P. APP., AACI<br>Claudio has been a member of the AIC since 1991, earning his AACI designation in<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li>His lengthy volunteer history includes assisting in setting up the York Chapter,<br>as Director for Region 3 (Toronto and York Chapter) in 2015, then as President<br>of AIC-ON in 2019. He has also served on the AIC-ON Advocacy Committee, the<br>Shaping our Future Task Force, and since 2021, the AIC National Board, during which<br>time he chaired and participated in numerous committees.<br>Claudio has been a great advocate for the AIC and the appraisal profession,<br>conducting numerous speaking engagements at related real estate industry events,<br>and conducting media interviews. Claudio\u2019s illustrious time as an AIC Member has<br>been full of exemplary contributions which have advanced not only the AIC, but all<br>its Members.<br>PRESIDENT\u2019S CITATION<br>The President\u2019s Citation is one of most prestigious awards that is granted to volunteers of the AIC. The award is granted at the<br>discretion of the outgoing President to long-standing committee volunteers who have demonstrated leadership and commitment.<br>This year\u2019s recipient is:<br>SUZANNE DE JONG, P. APP., AACI, FELLOW<br>Suzanne joined the AIC in 1990, obtained her CRA designation in 1993 and 2003<br>earned her AACI designation. Since becoming a Member, Suzanne has shown a<br>consistent dedication to inspiring new members and volunteering her time to give<br>back to the profession. She has been actively involved with the AIC at all levels,<br>including at the local Chapter, Provincially, and at a National level since 1996.<br>Over her many years as an exemplary volunteer, Suzanne has demonstrated that<br>she has the wisdom, temperament, and courage necessary to face challenges and<br>provide leadership to the AIC.<br>Canadian Property Valuation | \u00c9valuation 86 immobili\u00e8re au Canada Return to CONTENTS<br>RECAP<br>W.C. MCCUTCHEON AWARD RECIPIENTS<br>The W.C. McCutcheon Award, created to mark the AIC\u2019s 80th anniversary in 2018, is an esteemed award named after the AIC\u2019s first<br>president in 1938. The award is granted to outstanding volunteers of the AIC who have been long-standing committee volunteers and<br>have demonstrated leadership and commitment to the Institute. These volunteers continually go \u201cabove and beyond\u201d in sharing their time,<br>expertise, and experience to advance the appraisal profession. This year\u2019s recipient is:<br>TONY SEVELKA, P. APP., AACI<br>Tony is the President of International Forensic &amp; Litigation Appraisal Services Inc. and<br>International Valuation Consultants Inc. With a career spanning over 50 years, Tony has<br>contributed significantly to the valuation profession through numerous articles published<br>in the AIC\u2019s Canadian Property Valuation Magazine, numerous papers published in<br>The Appraisal Journal, as an instructor at the University of British Columbia\u2019s Sauder School<br>of Business, as an expert witness in several court and arbitration cases, as a volunteer where<br>he dedicates countless hours to developing and reviewing educational materials, and as a<br>member of various Committees. Tony\u2019s dedication to Continued Professional Development and<br>his numerous volunteer contributions underscore his commitment to excellence.<br>50-YEAR MEMBERS<br>This year, 12 AIC Professional Appraisers celebrated<br>their 50-year anniversary as Members of the<br>AIC! Their longevity as Members is a testament<br>to their dedication to the appraisal profession.<br>Congratulations to:<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Brian V. Camarta, P. App., AACI<\/li>\n\n\n\n<li>Carl M. Nilsen, P. App., AACI<\/li>\n\n\n\n<li>David A. Langeman, P. App., CRA<\/li>\n\n\n\n<li>Steven W. Wong, P. App., CRA<\/li>\n\n\n\n<li>Len Hayley, P. App., AACI<\/li>\n\n\n\n<li>Peter A. MacLellan, P. App., AACI<\/li>\n\n\n\n<li>Larry W. Bedford, P. App., AACI<\/li>\n\n\n\n<li>Kenneth F. Stroud, P. App., AACI<\/li>\n\n\n\n<li>Robert B. Sutherland, P. App., CRA<\/li>\n\n\n\n<li>Robert L. Cushing, P. App., AACI<\/li>\n\n\n\n<li>Thomas A. Hutchesson, P. App., CRA<\/li>\n\n\n\n<li>Tony Sevelka, P. App., AACI<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 87<br>Le Congr\u00e8s national de l\u2019ICE 2024, qui s\u2019est d\u00e9roul\u00e9 du<br>5 au 8 juin 2024 \u00e0 Charlottetown, \u00e0 l\u2019\u00cele du Prince-\u00c9douard,<br>a r\u00e9uni des centaines de membres de l\u2019ICE de<br>partout au pays dans le cadre d\u2019une fin de semaine<br>inoubliable de r\u00e9seautage, d\u2019\u00e9change et de perfectionnement<br>professionnel continu.<br>En tout, plus de 350 participant\u2022e\u2022s ont assist\u00e9 au Congr\u00e8s, qui<br>comprenait un nombre impressionnant de 23 s\u00e9ances de formation<br>offertes par des \u00c9valuateurs Professionnels (\u00c9. Pro.) de l\u2019ICE,<br>une s\u00e9ance d\u2019information pour des stagiaires, cinq activit\u00e9s de<br>r\u00e9seautage et une s\u00e9ance pl\u00e9ni\u00e8re captivante.<br>R\u00c9SUM\u00c9 DU CONGR\u00c8S<br>NATIONAL DE L\u2019ICE 2024<br>Le Congr\u00e8s a permis aux participant\u2022e\u2022s d\u2019\u00e9tablir de nouveaux<br>liens durables, d\u2019approfondir les liens existants et d\u2019apprendre<br>de leurs coll\u00e8gues membres, le tout dans le cadre magnifique et<br>historique de Charlottetown.<br>Merci aux membres, aux b\u00e9n\u00e9voles, aux commanditaires, au<br>personnel et aux conf\u00e9renciers qui ont consacr\u00e9 leur temps, leur<br>\u00e9nergie et leurs ressources pour faire du Congr\u00e8s national de l\u2019ICE<br>2024 un succ\u00e8s retentissant !<br>Nous nous r\u00e9jouissons \u00e0 l\u2019id\u00e9e de tenir un autre merveilleux<br>congr\u00e8s l\u2019an prochain dans la vibrante ville de Montr\u00e9al, au Qu\u00e9bec,<br>du 22 au 25 mai 2025.<br>Canadian Property Valuation | \u00c9valuation 88 immobili\u00e8re au Canada Return to CONTENTS<br>R\u00c9SUM\u00c9<br>PRIX DE RECONNAISSANCE<br>DES B\u00c9N\u00c9VOLES<br>Chaque ann\u00e9e, l\u2019un des points saillants du Congr\u00e8s national de l\u2019ICE est la c\u00e9l\u00e9bration<br>de l\u2019excellence dans le domaine de l\u2019\u00e9valuation professionnelle, marqu\u00e9e par la remise<br>des prix suivants.<br>BEN ELLENS, \u00c9. PRO., AACI<br>Le parcours professionnel de Ben est marqu\u00e9 par l\u2019excellence et l\u2019engagement<br>dans son domaine, comme en t\u00e9moignent le Royal LePage National Top 10%<br>Award (2022, 2023) et le Diamond Award pour s\u2019\u00eatre class\u00e9 parmi les 3 % les<br>plus performants dans la r\u00e9gion de Niagara (2022, 2023). Ben est \u00e9galement un<br>champion actif de l\u2019ICE, si\u00e9geant aux comit\u00e9s de d\u00e9fense des int\u00e9r\u00eats de l\u2019ICE \u00e0<br>l\u2019\u00e9chelle provinciale et nationale.<br>L\u2019engagement communautaire de Ben &#8211; l\u2019organisation d\u2019\u00e9v\u00e9nements de collecte<br>de fonds pour le McMaster Children\u2019s Hospital &#8211; est tout aussi louable. Ses efforts<br>ont permis de recueillir des fonds importants pour l\u2019h\u00f4pital, ce qui d\u00e9montre son<br>engagement \u00e0 redonner et \u00e0 soutenir les personnes dans le besoin.<br>ALISA ZORINA, \u00c9. PRO., AACI<br>Alisa a commenc\u00e9 sa carri\u00e8re en comptabilit\u00e9, puis s\u2019est rapidement orient\u00e9e vers<br>l\u2019\u00e9valuation d\u2019entreprises et a obtenu sa d\u00e9signation CBV. En 2017, Alisa a cr\u00e9\u00e9<br>Zorina Consulting Ltd, un cabinet sp\u00e9cialis\u00e9 dans l\u2019\u00e9valuation d\u2019entreprises pour les<br>litiges et le soutien fiscal. Parall\u00e8lement, elle a acquis une exp\u00e9rience pratique en<br>mati\u00e8re d\u2019\u00e9valuation r\u00e9sidentielle et commerciale, ce qui lui a permis d\u2019obtenir la<br>d\u00e9signation d\u2019\u00c9valuateur Professionnelle (\u00c9. Pro.), AACI.<br>Alisa est \u00e9galement charg\u00e9e de cours \u00e0 l\u2019Universit\u00e9 de Toronto et a fait de<br>nombreuses pr\u00e9sentations pour le chapitre de Toronto de l\u2019ICE et le Congr\u00e8s national<br>de l\u2019ICE. Elle est tr\u00e9sori\u00e8re b\u00e9n\u00e9vole au sein d\u2019un conseil d\u2019administration de sa<br>communaut\u00e9, participe \u00e0 des cliniques fiscales gratuites et contribue \u00e0 diverses<br>initiatives de formation et de d\u00e9veloppement professionnel, notamment en \u00e9laborant et<br>en r\u00e9visant le contenu de cours pour l\u2019Universit\u00e9 de la Colombie-Britannique.<br>LE PRIX \u00c9TOILES MONTANTES TYLER BEATTY<br>Depuis 2016, le Prix \u00e9toiles montantes Tyler Beatty reconna\u00eet les \u00c9valuateurs Professionnels (\u00c9. Pro.) exceptionnels qui ont accompli des<br>r\u00e9alisations importantes au cours de leur carri\u00e8re et qui ont apport\u00e9 des contributions notables \u00e0 la profession d\u2019\u00e9valuateur. En 2022, le prix<br>a \u00e9t\u00e9 renomm\u00e9 en l\u2019honneur de Tyler Beatty, \u00c9. Pro., AACI, qui est d\u00e9c\u00e9d\u00e9 en mars de cette ann\u00e9e-l\u00e0. Tyler \u00e9tait un b\u00e9n\u00e9vole exemplaire de<br>l\u2019ICE et un professionnel de l\u2019\u00e9valuation tr\u00e8s performant. Les r\u00e9cipiendaires de cette ann\u00e9e sont :<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 89<br>R\u00c9SUM\u00c9<br>FELLOW<br>Le titre de Fellow est d\u00e9cern\u00e9 aux membres d\u00e9sign\u00e9s qui se sont distingu\u00e9s par leur contribution exemplaire \u00e0 la profession d\u2019\u00e9valuateur.<br>Cela se traduit par un haut degr\u00e9 d\u2019excellence et de r\u00e9ussite qui contribue \u00e0 l\u2019avancement de la profession. Le r\u00e9cipiendaire de cette ann\u00e9e est :<br>CLAUDIO POLITO, \u00c9. PRO., AACI<br>Claudio est membre de l\u2019ICE depuis 1991 et a obtenu la d\u00e9signation AACI en 2006.<br>Il a particip\u00e9 \u00e0 la cr\u00e9ation de la section de York, a \u00e9t\u00e9 directeur de la r\u00e9gion 3<br>(section de Toronto et de York) en 2015, puis pr\u00e9sident de l\u2019ICE-ON en 2019.<br>Il a \u00e9galement si\u00e9g\u00e9 au comit\u00e9 de d\u00e9fense des int\u00e9r\u00eats de l\u2019ICE-ON, au groupe<br>de travail Fa\u00e7onnons notre avenir et, depuis 2021, au Conseil d\u2019administration<br>national de l\u2019ICE, au cours duquel il a pr\u00e9sid\u00e9 et particip\u00e9 \u00e0 de nombreux comit\u00e9s.<br>Claudio a \u00e9t\u00e9 un grand d\u00e9fenseur de l\u2019ICE et de la profession d\u2019\u00e9valuateur,<br>pronon\u00e7ant de nombreuses allocutions lors d\u2019\u00e9v\u00e9nements li\u00e9s au secteur de<br>l\u2019immobilier et accordant des interviews aux m\u00e9dias. La p\u00e9riode illustre de Claudio<br>en tant que membre de l\u2019ICE a \u00e9t\u00e9 riche en contributions exemplaires qui ont fait<br>progresser non seulement l\u2019ICE, mais aussi tous et toutes ses membres.<br>CITATION DU PR\u00c9SIDENT<br>La Citation du Pr\u00e9sident est l\u2019un des prix les plus prestigieux d\u00e9cern\u00e9s aux b\u00e9n\u00e9voles de l\u2019ICE. Elle est d\u00e9cern\u00e9e, \u00e0 la discr\u00e9tion du<br>pr\u00e9sident sortant, \u00e0 des b\u00e9n\u00e9voles de longue date qui ont fait preuve de leadership et d\u2019engagement. Le r\u00e9cipiendaire de cette ann\u00e9e est :<br>SUZANNE DE JONG, \u00c9. PRO., AACI, FELLOW<br>Suzanne s\u2019est jointe \u00e0 l\u2019ICE en 1990, a obtenu sa d\u00e9signation CRA en 1993 et sa<br>d\u00e9signation AACI en 2003. Depuis qu\u2019elle est devenue membre de l\u2019ICE, Suzanne<br>s\u2019est toujours efforc\u00e9e d\u2019inspirer les nouveaux membres et de donner de son temps<br>\u00e0 la profession. Elle participe activement aux activit\u00e9s de l\u2019ICE \u00e0 tous les niveaux,<br>notamment au sein de la section locale, au niveau provincial et au niveau national<br>depuis 1996.<br>Au cours de ses nombreuses ann\u00e9es de b\u00e9n\u00e9volat exemplaire, Suzanne a<br>d\u00e9montr\u00e9 qu\u2019elle poss\u00e8de la sagesse, le temp\u00e9rament et le courage n\u00e9cessaires<br>pour relever les d\u00e9fis et apporter son leadership \u00e0 l\u2019ICE.<br>Canadian Property Valuation | \u00c9valuation 90 immobili\u00e8re au Canada Return to CONTENTS<br>R\u00c9SUM\u00c9<br>PRIX W.C. MCCUTCHEON<br>Le Prix W.C. McCutcheon, cr\u00e9\u00e9 \u00e0 l\u2019occasion du 80e anniversaire de l\u2019ICE en 2018, est une r\u00e9compense estim\u00e9e qui porte le nom du premier<br>pr\u00e9sident de l\u2019ICE en 1938. Ce prix est d\u00e9cern\u00e9 \u00e0 des b\u00e9n\u00e9voles exceptionnels de l\u2019ICE qui ont \u00e9t\u00e9 b\u00e9n\u00e9voles de longue date au sein de<br>comit\u00e9s et qui ont fait preuve de leadership et d\u2019engagement \u00e0 l\u2019\u00e9gard de l\u2019ICE. Ces b\u00e9n\u00e9voles se surpassent continuellement en partageant<br>leur temps, leur expertise et leur exp\u00e9rience pour faire progresser la profession d\u2019\u00e9valuateur. Le r\u00e9cipiendaire de cette ann\u00e9e est :<br>TONY SEVELKA, \u00c9. PRO., AACI<br>Tony est le pr\u00e9sident d\u2019International Forensic &amp; Litigation Appraisal Services Inc. et<br>d\u2019International Valuation Consultants Inc. Au cours d\u2019une carri\u00e8re de plus de 50 ans,<br>Tony a contribu\u00e9 de mani\u00e8re significative \u00e0 la profession d\u2019\u00e9valuateur par le biais de<br>nombreux articles publi\u00e9s dans la revue \u00c9valuation immobili\u00e8re au Canada de l\u2019ICE, de<br>nombreux articles publi\u00e9s dans The Appraisal Journal, en tant qu\u2019instructeur \u00e0 la Sauder<br>School of Business de l\u2019Universit\u00e9 de la Colombie-Britannique, en tant que t\u00e9moin expert<br>dans plusieurs affaires judiciaires et arbitrales, en tant que b\u00e9n\u00e9vole o\u00f9 il consacre<br>d\u2019innombrables heures \u00e0 l\u2019\u00e9laboration et \u00e0 la r\u00e9vision de mat\u00e9riel \u00e9ducatif, et en tant que<br>membre de divers comit\u00e9s. Le d\u00e9vouement de Tony au perfectionnement professionnel<br>continu et ses nombreuses contributions b\u00e9n\u00e9voles soulignent son engagement \u00e0 l\u2019\u00e9gard<br>de l\u2019excellence.<br>MEMBRES DU CLUB<br>DES 50 ANS<br>Cette ann\u00e9e, 12 \u00c9valuateurs Professionnels (\u00c9. Pro.)<br>de l\u2019ICE ont c\u00e9l\u00e9br\u00e9 leur 50e anniversaire en tant<br>que membres de l\u2019ICE ! Leur long\u00e9vit\u00e9 en tant<br>que membres t\u00e9moigne de leur d\u00e9vouement \u00e0 la<br>profession d\u2019\u00e9valuateur. F\u00e9licitations \u00e0 :<\/li>\n\n\n\n<li>Brian V. Camarta, \u00c9. Pro., AACI<\/li>\n\n\n\n<li>Carl M. Nilsen, \u00c9. Pro., AACI<\/li>\n\n\n\n<li>David A. Langeman, \u00c9. Pro., CRA<\/li>\n\n\n\n<li>Steven W. Wong, \u00c9. Pro., CRA<\/li>\n\n\n\n<li>Len Hayley, \u00c9. Pro., AACI<\/li>\n\n\n\n<li>Peter A. MacLellan, \u00c9. Pro., AACI<\/li>\n\n\n\n<li>Larry W. Bedford, \u00c9. Pro., AACI<\/li>\n\n\n\n<li>Kenneth F. Stroud, \u00c9. Pro., AACI<\/li>\n\n\n\n<li>Robert B. Sutherland, \u00c9. Pro., CRA<\/li>\n\n\n\n<li>Robert L. Cushing, \u00c9. Pro., AACI<\/li>\n\n\n\n<li>Thomas A. Hutchesson, \u00c9. Pro., CRA<\/li>\n\n\n\n<li>Tony Sevelka, \u00c9. Pro., AACI<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 91<br>92 Canadian Property Valuation | \u00c9valuation immobili\u00e8re au Canada Return to CONTENTS<br>Colleagues &amp; Friends<br>Coll\u00e8gues et ami\u2022e\u2022s<br>Return to CONTENTS Volume 68 | Book 2 \/ Tome 2 | 2024 93<br>MERCI \u00c0 NOS COMMANDITAIRES<br>L\u2019ICE remercie sinc\u00e8rement les commanditaires suivants pour leur<br>soutien exceptionnel, qui rend possible le Congr\u00e8s national de l\u2019ICE.<br>Nous vous remercions de votre incroyable g\u00e9n\u00e9rosit\u00e9. L\u2019\u00e9v\u00e9nement<br>le plus important au Canada pour les professionnels de l\u2019\u00e9valuation<br>immobili\u00e8re n\u2019est possible que gr\u00e2ce \u00e0 votre soutien continu.<br>THANK YOU, SPONSORS<br>The AIC extends its sincere thanks to the following sponsors for<br>their exceptional support, which makes the AIC National Conference<br>possible. Thank you for your incredible generosity. Canada\u2019s premier<br>event for real estate valuation professionals is only possible with<br>your ongoing support.<br>Canadian Property Valuation | \u00c9valuation 94 immobili\u00e8re au Canada Return to CONTENTS<\/li>\n<\/ul>\n\n\n\n<p>NEWS\/NOUVELLES<br>2025 calendar features<br>amazing AIC photo<br>contest images<br>Accompanying this issue of CPV magazine is our striking<br>new 2025 AIC calendar. Once again, the calendar features<br>some of the outstanding AIC photo contest entries from<br>Members across the country. Included in these amazing<br>images are the photo contest winning entries submitted<br>by John Farmer, P.App., AACI (1st Place); Ted Wojas,<br>P.App., AACI (2nd Place); and Megan Simmons, P.App., AACI<br>(3rd Place). Thank you to all AIC Members who took this opportunity<br>to showcase the built and natural beauty of Canada.<br>Le calendrier 2025 pr\u00e9sente<br>les images splendides du<br>concours de photo de l\u2019ICE<br>Comme encart \u00e0 ce num\u00e9ro de la revue EIC, vous trouverez le<br>remarquable nouveau calendrier 2025 de l\u2019ICE. Encore une fois,<br>le calendrier met en vedette certaines des plus belles photos<br>du concours de l\u2019ICE, prises par les membres un peu partout<br>au pays. Entre autres, vous verrez les photos gagnantes de<br>John Farmer, P.App., AACI (1\u00e8re place); Ted Wojas, P.App., AACI<br>(2e place); et Megan Simmons, P.App., AACI (3e place). Nous remercions tous<br>et toutes les membres de l\u2019ICE qui ont profit\u00e9 de l\u2019occasion pour faire valoir le<br>patrimoine et la beaut\u00e9 naturelle du Canada.<br>2025<br>Important Dates<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Decembre 24, 2024 \u2013 Christmas Eve<\/li>\n\n\n\n<li>Decembre 25, 2024 \u2013 Christmas Day<\/li>\n\n\n\n<li>Decembre 25, 2024 \u2013 Hanukkah starts (Judaism)<\/li>\n\n\n\n<li>Decembre 26, 2024 \u2013 Boxing Day<\/li>\n\n\n\n<li>Decembre 31, 2024 \u2013 Deadline to complete the 2024 PPS<\/li>\n\n\n\n<li>Decembre 31, 2024 \u2013 Professional Liability Insurance deadline<\/li>\n\n\n\n<li>January 1, 2025 \u2013 New Year\u2019s Day<\/li>\n\n\n\n<li>January 27, 2025 \u2013 Holocaust Remembrance Day<\/li>\n\n\n\n<li>January 29, 2025 \u2013 Chinese Lunar New Year<\/li>\n\n\n\n<li>February 1, 2025 \u2013 Black History Month<\/li>\n\n\n\n<li>February 14, 2025 \u2013 Valentine\u2019s Day<\/li>\n\n\n\n<li>February 17, 2025 \u2013 Family Day (AB, BC, NB, ON, SK),<br>Islander Day (PEI), Louis Riel Day (MB), Nova Scotia Heritage Day<\/li>\n\n\n\n<li>February 28, 2025 \u2013 Ramadan begins (Islam)<\/li>\n\n\n\n<li>March 1, 2025 \u2013 Fraud Prevention Month<\/li>\n\n\n\n<li>March 8, 2025 \u2013 International Women\u2019s Day<\/li>\n\n\n\n<li>March 13, 2025 \u2013 Purim (Judaism)<\/li>\n\n\n\n<li>March 14, 2025 \u2013 Holi (Hinduism)<\/li>\n\n\n\n<li>March 17, 2025 \u2013 St. Patrick\u2019s Day<\/li>\n\n\n\n<li>March 20, 2025 \u2013 International Francophonie Day<\/li>\n\n\n\n<li>March 29, 2025 \u2013 Eid al-Fitr (Islam)<\/li>\n\n\n\n<li>April 1, 2025 \u2013 Sikh Heritage Month<\/li>\n\n\n\n<li>April 12, 2025 \u2013 Passover (Judaism)<\/li>\n\n\n\n<li>April 20, 2025 \u2013 Easter<\/li>\n\n\n\n<li>April 21, 2025 \u2013 Easter Monday<\/li>\n\n\n\n<li>April 22, 2025 \u2013 Earth Day<\/li>\n\n\n\n<li>May 1, 2025 \u2013 Asian Heritage Month<\/li>\n\n\n\n<li>May 1, 2025 \u2013 Jewish Heritage Month<\/li>\n\n\n\n<li>May 11, 2025 \u2013 Mother\u2019s Day<\/li>\n\n\n\n<li>May 19, 2025 \u2013 Victoria Day<\/li>\n\n\n\n<li>May 22-25, 2025 \u2013 2025 AIC National Conference \u2013 Montreal<\/li>\n\n\n\n<li>May 24, 2025 \u2013 AIC Annual General Meeting<br>Dates importantes<\/li>\n\n\n\n<li>24 d\u00e9cembre 2024 \u2013 Veille de No\u00ebl<\/li>\n\n\n\n<li>25 d\u00e9cembre 2024 \u2013 No\u00ebl<\/li>\n\n\n\n<li>25 d\u00e9cembre 2024 \u2013 Hanukkah commence (Juda\u00efsme)<\/li>\n\n\n\n<li>26 d\u00e9cembre 2024 \u2013 L\u2019Apr\u00e8s No\u00ebl<\/li>\n\n\n\n<li>31 d\u00e9cembre 2024 \u2013 Date limite pour compl\u00e9ter le SPP 2024<\/li>\n\n\n\n<li>31 d\u00e9cembre 2024 \u2013 Date limite pour l\u2019assurance responsabilit\u00e9 professionnelle<\/li>\n\n\n\n<li>1 janvier 2025 \u2013 Jour de l\u2019An<\/li>\n\n\n\n<li>27 janvier 2025 \u2013 Jour de l\u2019Holocauste<\/li>\n\n\n\n<li>29 janvier 2025 \u2013 Nouvel an chinois (lunaire)<\/li>\n\n\n\n<li>1 f\u00e9vrier 2025 \u2013 Mois de l\u2019histoire des Noirs<\/li>\n\n\n\n<li>14 f\u00e9vrier 2025 \u2013 Saint-Valentin<\/li>\n\n\n\n<li>17 f\u00e9vrier 2025 \u2013 Journ\u00e9e de la famille (AB, BC, NB, ON, SK), Jour de L&rsquo;\u00cele en f\u00eate<br>(PEI), Journ\u00e9e Louis Riel (MB), Jour du patrimoine de la Nouvelle-\u00c9cosse<\/li>\n\n\n\n<li>28 f\u00e9vrier 2025 \u2013 Ramandan d\u00e9bute (Islam)<\/li>\n\n\n\n<li>1 mars 2025 \u2013 Mois de la pr\u00e9vention de la fraude<\/li>\n\n\n\n<li>8 mars 2025 \u2013 Journ\u00e9e internationale des femmes<\/li>\n\n\n\n<li>13 mars 2025 \u2013 Pourim (Juda\u00efsme)<\/li>\n\n\n\n<li>14 mars 2025 \u2013 Holi (Hindouisme)<\/li>\n\n\n\n<li>17 mars 2025 \u2013 Saint-Patrick<\/li>\n\n\n\n<li>20 mars 2025 \u2013 Journ\u00e9e internationale de la Francophonie<\/li>\n\n\n\n<li>29 mars 2025 \u2013 Eid al-Fitr (Islam)<\/li>\n\n\n\n<li>1 avril 2025 \u2013 Mois du patrimoine sikh<\/li>\n\n\n\n<li>12 avril 2025 \u2013 Pessah (Juda\u00efsme)<\/li>\n\n\n\n<li>20 avril 2025 \u2013 P\u00e2ques<\/li>\n\n\n\n<li>21 avril 2025 \u2013 Lundi de P\u00e2ques<\/li>\n\n\n\n<li>22 avril 2025 \u2013 Journ\u00e9e de la Terre<\/li>\n\n\n\n<li>1 mai 2025 \u2013 Mois du patrimoine asiatique<\/li>\n\n\n\n<li>1 mai 2025 \u2013 Mois du patrimoine juif<\/li>\n\n\n\n<li>11 mai 2025 \u2013 F\u00eate des M\u00e8res<\/li>\n\n\n\n<li>19 mai 2025 \u2013 Journ\u00e9e nationale des patriotes<\/li>\n\n\n\n<li>22-25 mai 2025 \u2013 Congr\u00e8s national de l\u2019ICE 2025 \u00e0 Montr\u00e9al<\/li>\n\n\n\n<li>24 mai 2025 \u2013 Assembl\u00e9e g\u00e9n\u00e9rale annuelle de l\u2019ICE<br>These AIC Members have passed away. On behalf of everyone<br>connected with the AIC and the profession, we extend our sincerest<br>sympathies to their families, friends and associates.<br>In Memoriam \/ En m\u00e9moire<br>Edward Allen, P. App., AACI<br>Corner Brook, NL<br>Bruce Anderson, P. App., CRA<br>Spruce Grove, AB<br>Cecil Butt, P. App., AACI<br>Edmonton, AB<br>Kenneth Goodmanson, P. App., CRA<br>Regina, SK<br>Terry Jaja, P. App., AACI<br>Ottawa, ON<br>Peter Loh, P. App., AACI<br>Calgary, AB<br>Gary Nickerson, Candidate<br>Mississauga, ON<br>Michael Potashnyk, P. App., AACI<br>Whitby, ON<br>Anthonie Johannes Sulkers, P. App., CRA<br>Heritage Pointe, AB<br>Ralph Taylor, P. App., AACI<br>Bedford, NS<br>Barry Walsh, P. App., CRA<br>Antigonish, NS<br>Robert Samuel White, P. App., CRA<br>Stephenville Crossing, NL<br>Ces membres de l&rsquo;ICE sont d\u00e9c\u00e9d\u00e9s. Au nom de tous ceux qui oeuvrent de pr\u00e8s<br>ou de loin au sein de l&rsquo;ICE et de la profession, nous exprimons nos plus sinc\u00e8res<br>condol\u00e9ances \u00e0 leurs familles, amis et associ\u00e9s.<br>Canadian Property Valuation | \u00c9valuation 96 immobili\u00e8re au Canada Return to CONTENTS<br>Today\u2019s successful real estate professional is committed to<br>lifelong learning. UBC\u2019s Continuing Professional Development Courses<br>meet your needs.<\/li>\n\n\n\n<li>Convenient online course format<\/li>\n\n\n\n<li>Broad range of valuation and real estate business topics<\/li>\n\n\n\n<li>Guaranteed Appraisal Institute of Canada\u2019s Continuing<br>P rofessional Development credits<br>Featured courses:<br>\uf0f0 CPD 126, Green Value \u2013 Energy Efficient, Sustainable and<br>Resilient Housing<br>\uf0f0 CPD 161, Project Management and Real Estate<br>\uf0f0 CPD 163, Insurance Valuation<br>\uf0f0 CPD 132, More than Just Form-Filling: Creating Professional<br>Residential Appraisal Reports<br>To find out more, visit:<br>realestate.ubc.ca\/CPD<br>tel: 604.822.2227 \/ 1.877.775.7733<br>email: cpd@realestate.sauder.ubc.ca<br>Creative<br>Adaptable<br>Analytical<br>The Appraisal Institute of Canada (AIC),<br>together with the provincial associations and<br>the provincial bodies affiliated with the AIC,<br>commend the following Members who completed<br>the rigorous requirements for accreditation as a<br>Designated Member of the AIC during the period<br>April 18 to October 30, 2024:<br>L\u2019Institut canadien des \u00e9valuateurs (ICE), en<br>collaboration avec les associations provinciales<br>et les organismes provinciaux affili\u00e9s \u00e0 l\u2019ICE,<br>f\u00e9licitent les membres suivants qui ont compl\u00e9t\u00e9<br>le programme rigoureux d\u2019accr\u00e9ditation \u00e0<br>titre de membre d\u00e9sign\u00e9 de l\u2019ICE durant la<br>p\u00e9riode du 18 avril 2024 au 30 octobre 2024 :<br>AIC designations granted \/ D\u00e9signations obtenues de l\u2019ICE<br>P. App. \/ \u00c9. Pro., AACI<br>Accredited Appraiser Canadian Institute<br>\u00c9valuateur accr\u00e9dit\u00e9 de l\u2019Institut canadien<br>Candidates \/ Stagiaires<br>AIC welcomed the following new Candidate Members during the period April 18 to<br>October 30, 2024:<br>L\u2019ICE souhaite la bienvenue aux personnes suivantes qui ont joint les rangs des membres<br>stagiaires durant la p\u00e9riode du 18 avril 2024 au 30 octobre 2024 :<br>P. App. \/ \u00c9. Pro., CRA<br>Canadian Residential Appraiser<br>\u00c9valuateur r\u00e9sidentiel canadien<br>Alberta<br>Ben Fonteyne<br>Shayne Maynard<br>Mike Minard<br>British Columbia\/<br>Colombie-Britannique<br>Gino P. Biamonte<br>Lee M. Brooks<br>Erin McGregor<br>Jim Chi Pong Ng<br>Manitoba<br>Keerath Kaur Bal<br>New Brunswick\/<br>Nouveau-Brunswick<br>Greg Hunt<br>Alberta<br>Shelby R. Boomhower<br>Jasper Lee<br>British Columbia\/<br>Colombie-Britannique<br>Hana Bullard<br>Scott William Clement<br>Conny-Maud Groenevelt<br>Manitoba<br>Riley Philippe William<br>Sasseville<br>Dan Simon Theobald<br>Newfoundland<br>and Labrador\/<br>Terre-Neuve-et-Labrador<br>Alexe G. Pelley<br>Christopher Snow<br>Alberta<br>Jocelyn Ahn<br>Ryan Bloom<br>Ryan Broos<br>Kate Fedoseeva<br>Morgan Galavan<br>Blake Jordan Gourley<br>Carleigh Grimson<br>Lacey N. Hein<br>Yu Huang<br>Beau Lucas<br>Hong Luu<br>Guilherme Moreto<br>Zuaneti<br>Seung Young Seo<br>Kaitlyn Smythe<br>Amreet Toor<br>British Columbia\/<br>Colombie-Britannique<br>Sepideh Bassirat<br>Raedene Jeannette<br>Feenstra<br>Yunlong Hou<br>Jordan Hoy<br>Amit Joshi<br>Owen Langford<br>Gisoo Madraki<br>Aaron Coel Palmer<br>Juwon Park<br>Diana Stakhova<br>Leah Tambellini<br>Williams<br>Jaz Thiara<br>Aaron Rayne Whitley<br>Nicholas Wong<br>Peyman Zamani<br>Manitoba<br>Cameron McIntyre<br>Evan Ruta<br>New Brunswick\/<br>Nouveau-Brunswick<br>Steven Joseph Hachey<br>Charles Thoms<br>Newfoundland and<br>Labrador\/<br>Terre-Neuve-et-<br>Labrador<br>Jenna Lane<br>Nova Scotia\/<br>Nouvelle-\u00c9cosse<br>Chudi S. Ngwuluka<br>Marina Lee-Anne<br>Stuparyk<br>Ontario<br>Eduard Aslani<br>Alyssa Benn<br>Enid Biba<br>Julia Bolton-Smith<br>Kimberley Anne Caplan<br>Yuri Chae<br>Chun Kit Cho<br>Nicolas Coyles<br>Mallory Dawson<br>Sabrina Di Cosola<br>Arslan Ellahi<br>Alberta<br>Vanessa Creasy<br>Neil Dutton<br>Tony Tran<br>British Columbia\/<br>Colombie-Britannique<br>Domenic Eugene<br>Biamonte<br>Yiwei Hao<br>Samuel Anthony Hoare-<br>Ramsay<br>Ravi Malhi<br>Jose German Ochoa<br>Amador<br>Kevin Terence Olmedo<br>Teena Rumak<br>Students \/ \u00c9tudiants<br>This category of membership serves as the first step on the path to designation for those<br>completing their requirements for Candidate membership. Students considering the appraisal<br>profession as a career option are also welcomed to this category of membership.<br>Cette cat\u00e9gorie d\u2019adh\u00e9sion constitue la premi\u00e8re \u00e9tape sur la voie de la d\u00e9signation pour<br>ceux qui s\u2019affairent \u00e0 compl\u00e9ter les exigences de la cat\u00e9gorie de membres stagiaire. Les<br>\u00e9tudiants qui contemplent une carri\u00e8re comme \u00e9valuateur professionnel sont accueillis<br>dans cette cat\u00e9gorie de membres.<br>Borna Faghihi Sani<br>Feroz Faruqi<br>Caitlin Froese<br>Ashwin Gandhi<br>Campbell Gordon<br>Hardik Gupta<br>Olivia Hall<br>Brendan Michael Hann<br>Sarah Hsu<br>Casey Jagosky<br>Inseok Jang<br>Adjeley Jones<br>Rajat Kapoor<br>Amandeep Kaur<br>Logan Laforest<br>Rishab Malhotra<br>Kaitlyn McCracken<br>Rayner Mendes<br>Michael Miller<br>Manisha Mohan<br>Chun Fung Tony Ng<br>Suhyoung Park<br>Matthew Pastor<br>Karm Patel<br>Yash Patel<br>Martina Perkovic<br>Bridget Postuma<br>Shehla Qayyum<br>Amandeep Sangha<br>Vicent Senyondo<br>Gurdeep Sethi<br>Jeffrey Boyd Somerville<br>Andrew Stewart<br>Yahia Taleb<br>Jordan Tucciarone<br>Colette Tumwine<br>Nova Scotia\/<br>Nouvelle-\u00c9cosse<br>Shiva Kakkar<br>Ontario<br>Paolo Andriuolo<br>Paul Brioux<br>Pankaj Chauhan<br>Stefano Di Blasio<br>Mary T. Feehely<br>Kai Fung Lam<br>Chi Wing Lam<br>Wai Ming Lam<br>Craig Elliot Pady<br>Karankumar Patel<br>Yanan Qi<br>Nadia Sukovski<br>Prince Edward Island\/<br>\u00cele-du-Prince-\u00c9douard<br>Jacqueline C. Collicutt<br>Quebec\/Qu\u00e9bec<br>Achille Anidjar<br>International<br>Emmanuel Ojochogwu<br>Abdul<br>DESIGNATIONS CANDIDATES STUDENTS \/ D\u00c9SIGNATIONS STAGIAIRES \u00c9TUDIANTS<br>Dylan Chad Weltman<br>William Xu<br>Erik Yelle<br>Sang Sook (Susan) You<br>Brian Yu<br>Alexander Yuen<br>Zhihong Zhao<br>Prince Edward Island\/<br>\u00cele-du-Prince-\u00c9douard<br>Alexander Kenneth Roy<br>Doiron<br>Quebec\/Qu\u00e9bec<br>H\u00e9lo\u00efse Gauthier<br>Dominic Marois<br>Ferdinand Mito-Yobo<br>Diana Gabriela Pricop<br>Lea Vaksman<br>Ontario<br>Roya Bayat<br>James Bridger<br>Blake (Seungyeob) Chu<br>Katie Dick<br>Alex A. Fey<br>Kerry Hart<br>Deidra-Marie Limlaw<br>Anna Moore<br>Michael L. Pilling<br>Lynn Diane Smillie<br>Brian Storozinski<br>Ken Vander Eyk<br>Francis Voo<br>Ontario<br>Matthew Cheung<br>Alyssa Colautti<br>Nicholas Richard Davies<br>Brian Haase<br>Michael Hainey<br>Scott Hall<br>Julian Helou<br>Bruno Iacurti<br>Ka Eun (Adriana) Kim<br>Janet Lin<br>Victoria Maciuga<br>Cyndy Robleto<br>Ted Sturk<br>Davis Taylor<br>Michael Temianko<br>Josh Watson<br>Jonathan Wollziefer<br>Wei Yu<br>Yukon<br>Manuel Pepe Kennedy-<br>Kuiper<br>International<br>Karen Catharine<br>Nunnenmacher<br>Canadian Property Valuation | \u00c9valuation 98 immobili\u00e8re au Canada Return to CONTENTS<br>Proud professional liability<br>insurance partner of the<br>Appraisal Institute of Canada<br>trisura.com<br>Forge your own<br>path to success<br>Join CBRE\u2019s Valuation &amp; Advisory Services Team<br>At CBRE, you are empowered to take your career where you want it to go. Enjoy workplace<br>flexibility with tremendous scale\u2014in an inclusive, collaborative environment with supportive<br>teammates. Work on an industry-leading national team that provides unmatched client<br>service by leveraging best in class research, superior technology and industry expertise.<br>Adam Hannah, MBA<br>Head of Valuation &amp; Advisory Services (Canada)<br>adam.hannah@cbre.com<br>+1 416 815 2393<\/li>\n<\/ul>\n","protected":false},"featured_media":139689,"menu_order":0,"template":"","meta":{"_acf_changed":true,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":""},"class_list":["post-139615","issue","type-issue","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/issue\/139615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/types\/issue"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/media\/139689"}],"wp:attachment":[{"href":"https:\/\/www.aicanada.ca\/fr\/wp-json\/wp\/v2\/media?parent=139615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}