August 2008 Archives

The windfall is from last year's budget surplus. Municipalities across Ontario will share in $1.1 billion announced by Premier Dalton McGuinty at the Association of Municipalities of Ontario conference in Ottawa. In the same announcement, municipalities were warned this funding boost won't be duplicated next year.

The funding assists municipalities like Kingston, which are struggling with infrastructure deficits. The city is short $17 million for road upgrades this year alone.

http://www.thewhig.com/ArticleDisplay.aspx?e=1175679

On June 9, 2008 applications for Site Plan Control and Zoning By-Law Amendment were submitted by RRVP Frontenac Mall Inc. for the property municipally know as 1300 Bath Road. The purpose of the applications is to facilitate the development of two additional free standing structures situated along the south property line for the purpose of establishing a Harvery's restaurant and a Swiss Chalet restaurant.

Looks like they want to move next door from the corner at Bath Rd and Armstrong Rd where they are now. No more dealing with that pot hole at the entrance from Armstrong Road!

http://www.cityofkingston.ca/pdf/cityhall/committees/planning/agenda/2008/PLN_A1508-SchedB.pdf

On June 23rd, 2008 new federal money laundering and anti-terrorist financing regulations came into effect that require real estate agents and brokers to collect personal identification information from buyers and sellers.

Real Estate agents are now required to ask for proof of the identity of all buyers or sellers involved in a Canadian real estate transaction. If the client is a corporation, that information must include corporate documentation, and the names of the corporation directors. They must also ascertain if a third party is involved in the transaction.

This also applies if a buyer or seller involved in a transaction is not represented by a real estate agent, but the other individual involved is represented. Those buying or selling privately will be asked by the agent representing the other party involved in the transaction to provide proof of identity as well, and that record must be kept by the real estate agent involved in the transaction.

These new regulations are part of federal legislation (Bill C-25) passed in 2007 that requires a number of industries, including real estate, to do more to help stop money laundering and terrorist financing. The regulations are enforced by the federal agency known as the Financial Transactions and Reports Analysis Centre of Canada, or FINTRAC.

Additional information about this federal initiative, the federal legislation and the role of FINTRAC in the reporting system is available at www.fintrac-canafe.gc.ca or call toll-free: 1-866-346-8722

The Multiple Listing Service mls.ca is now www.realtor.ca.

The new home page provides four different ways to locate properties. Text Search, Interactive Map Search, Advanced Search, and MLS®# Search.

Several additional options are also offered on the REALTOR.ca site-more than were available on the old mls.ca site.

This national real estate database is the first source for Canadian Real Estate Buyers and Sellers is now better than ever and user friendly. It's pretty cool!

http://www.realtor.ca