Reporting to the Manager, the Property Officer 1 performs valuation and conducts negotiations for the leases/sales/purchase of surplus property resulting in the completion of real estate transactions including sales, lease, licenses, land exchanges, easements permissions and consent agreements.
- Prepares appraisals of real property including leasehold and leased fee, strata and easement interests.
- Conducts economic and feasibility studies including using the Discounted Cash Flow technique (DCF).
- Assesses/evaluates appraisal reports, real estate development feasibility studies and other reports prepared by private consultants.
- Evaluates elements of compensation i.e. good will, value to the owner, in accordance with the provisions of the Expropriation Act and makes recommendations.
- Inspects property to determine location, type of construction, condition, functional design, takes measurements and pictures Obtains information from Departments and outside sources regarding planned use, cost of services, zoning by-law restrictions, costs.
- Negotiates with the general public, agents, solicitors, business/industrial corporations, developers and officials of all levels of government and makes recommendations as to price, terms and conditions etc., for leasehold acquisition by purchase or expropriation or disposal of a wide variety of real property interests.
- Responds to enquiries from other divisions, tenants, real estate agents, the public and elected officials.
- Represents Division and provides appraisal and/or consulting input at meetings with community groups, property owners, Councillors, and City staff.
- Represents the City at tribunals, arbitration hearings, mediations and the Ontario Municipal Board as an expert witness. Prepares submissions for and appear as a witness at hearings, mediations and tribunals.
- Coordinates and attends meetings with Departments, Boards and Commissions and community groups for the purpose of presenting advice on real estate matters and City policy.
- Prepares appraisal reports and conducts feasibility studies on City-owned properties by researching, analyzing data, projecting future financial potential, to produce a proposal call or recommend a course of action. Prepares similar studies on private properties re proposed acquisition by City.
- Represents the Division’s real interests in City-wide planning, negotiation, priority-setting and decision processes to ensure consistency with Divisional responsibilities, objectives and other contractual requirements.
- Prepares draft reports for Council, Committees, Departments and agencies.
- Maintains records of transactions in progress.
- Identifies real estate issues, market trends and assist in the development of real estate appraisal policy and processes.
- Verifies Agreements of Lease, Purchase and Sale and arranges for and reviews independent appraisals.
Your applications must describe your qualifications as they relate to:
- Post-secondary education in Real Estate, Business and/or Economics with relevant experience in leasing/sales and other realty transactions or an equivalent combination of education and experience.
- Extensive experience in and knowledge of negotiating the rental or sale of commercial, industrial, institutional and residential properties and vacant land.
- Extensive experience in negotiating revenue generating transactions including but not limited to licenses, partnership arrangement, revenue sharing opportunities, advertising, joint ventures, public private partnerships or equivalent.
- Extensive experience with developing business cases and financial analysis.
- Extensive experience in and knowledge of financial and accounting concepts such as Discount Cash Flow (DCF), Net Present Value (NPV) and Internal Rate of Return (IRR) and the ability to build or review financial models.
- Experience and proficiency using computers and a variety of software packages such as Microsoft Office Suite (i.e. Microsoft Word, Excel, PowerPoint).
- Experience with developing or implementing operational effectiveness and efficiency of a team or business unit such as process improvements.
- Must possess a valid Ontario Driver’s License, Class G.
You must also have:
- Ability to lead and execute leasing/sales and other types of real estate transactions to full completion with minimal supervision; ability to think independently and as an “owner” to obtain the best business terms and agreements.
- Strong communication skills, both orally and in writing, at a professional level with senior management, consultants, staff, elected officials and the public.
- Knowledge of land building values in and around GTA and familiarity with real estate market trends and activities.
- Strong analytical, problem solving and negotiating skills.
- Thorough knowledge of the Municipal Act, Municipal Code, zoning and property standards, regulations and by-laws, as it relates to municipal real estate.
- Ability to prioritize competing demands and manage ongoing project files.
- Ability to exercise independent judgement and discretion in dealing with confidential matters.
- Thorough knowledge and application of municipal real estate practices and principles of property valuation.
Please note that all applicants are encouraged to provide a valid email address for communication purposes. Applicants may receive written correspondence regarding this job posting directly to the email address provided on their resume or to the one used to set-up their Candidate Profile if applying on TalentFlow. As an applicant, it is your responsibility to ensure that you check your email regularly.
The City of Toronto is committed to fostering a positive and progressive workforce that is representative of the citizens we serve. We will provide equitable treatment and accommodation to ensure barrier-free employment. In accordance with the Ontario Human Rights Code, Accessibility for Ontarians with Disabilities Act and the City of Toronto’s Accommodation Policy, a request for accommodation will be accepted as part of the City’s hiring process.
If you are invited to participate in an assessment process, kindly provide your accommodation needs in advance. Please be advised that you may be requested to provide medical/other documentation to Human Resources to ensure that appropriate accommodation is provided to you throughout the hiring process.
If you are an individual with a disability and you need assistance or an accommodation during the application process, please email us at firstname.lastname@example.org, quoting the job ID #2268634 and the job classification title.