Mr. Speaker, I have a Return to Written Question asked by Member for Frame Lake on March 16, 2020, regarding Commissioner's Land Act security deposit.
Later today, at the appropriate time, I will table a list of commercial and industrial leases issued for Commissioner's land since February 15, 2011, including the amount and form of security posted.
One lease was exempted from the requirement to post security under Section 3.1(3) of the Commissioner's Land Act as the calculated security does not exceed one thousand dollars. In addition, security is not required for one of the listed leases because the application for that lease was accepted prior to the February 2011 coming-into-force date of the security provisions of the Commissioner's Land Act.
The amount of security required for commercial or industrial leases on Commissioner's land is calculated using a worksheet which appears on the Commercial/Industrial Lease Application Form. This calculation applies set restoration rates to the total area of land to be developed, the number and type of structures to be placed on the land, the amount of land used for the storage of fuel and the presence or absence of spill mitigating features. Additional multipliers are applied based on the lessee's previous performance and the potential for elevated environmental risk.
Security is not required for leases to municipalities or government agencies.
Commissioner's land securities are received by the regional Lands Officer or headquarters staff, reviewed and taken to the Department of Finance as soon as they are deemed acceptable. Securities are tracked at headquarters. A lease's security calculation is reviewed every five years to account for inflation and to ensure the amount of security held is still appropriate given the use of the land.
Security for lease CL-1600022T, in the amount of $23,883.30, was returned on August 24, 2018, following the sale of the lot in fee simple. No other securities held under the Commissioner's Land Act have been returned. Thank you, Mr. Speaker.