Types Land Leases – Standard and Equity Leases
The Hamlet issues standard and equity leases for land parcels in the community.
An equity lease is a lease for Municipal land for which the lessee’s payments (excluding interest) accumulate as principal towards eventual full payment of the lot lease price, which is fixed during the term of the contract.
A standard Lease is a lease of Municipal land for which the lessee’s annual payments do not accumulate equity towards to the leasehold property.
How are lot prices determined?
The lot prices in Clyde River is set by the land development costs in accordance with the Hamlet’s Land Administration By-law and GN Land Policies. For existing lots, Council may choose either market value or replacement cost as the method for setting the price. Market value is determined by a professionally qualified land appraiser or by public bids. Replacement cost is determined by how much it would cost to develop a similar lot in the community at today’s prices.
Who would be responsible for the associated lease and legal fees?
The application, transfer and surrender of lease is the coordinated with the lessee, municipality and the Government of Nunavut Land Titles Office. The lessee is responsible for any transfer and legal fees.
Applying For a Commercial/Industrial Land Lease
Commercial/Industrial Land Lease: An approved lease gives the lessee the exclusive right to use the land for a specified period. The lease also allows the lessee to make improvements on the land consistent with the terms and conditions specified in the approved lease.
Before you apply: Applicants are strongly encouraged to confirm that the land parcel they wish to apply for is available. The Lands Officer can assist you to determine if the land parcel is available.
After you apply: Every application undergoes a standard review process internally and consultation with the government of Nunavut, where applicable. This process can take three to six months to complete. If an application is rejected, it is returned along with a letter outlining the reasons the application was denied.
Application fee: $250
The annual lease rental shall be as follows:
Commercial: 6% of the lot price per annum
Industrial: 7% of lot price per annual
Other Land uses: as decided by Council
Applying for Land Use Permit
The Municipality may issue land use permits for the temporary use of land.
Land use may include:
- The use of any form of explosive
- The use, except on public roads or trails maintained wholly or in part by public funds, of any vehicle that exceeds 4500 kgs (10,000 lbs.) net vehicle weight, or the use of any vehicle of any weight that exerts pressure on the ground in excess of 35 Kpa (5lbs per square inch)
- The use of any self-propelled power driven machine for moving earth or clearing land (excluding quarrying)
- The purpose of any power-driven machinery for earth drilling purposes, the operating weight of which exceeds 450 kgs (1000 lbs.)
- The establishment of any campsite that is to be used in excess of 50 man-days.
- The levelling, grading, clearing or cutting of any line trail or right of way exceeding two metres in width (6 feet).
- The establishment of any petroleum cache in excess of 1300 litres (300 gallons).
- Any other use where the municipality deems it necessary.
Applying for Quarrying Permits and Leases
The Hamlet issues quarrying permits and quarrying leases on Commissioner’s Lands for the purpose of extracting sand, gravel, stone, loam, and other types of granular material.
Quarrying permits typically provide short-term access while quarrying leases provide long-term access to granular materials.
Quarry Service Rates
|Base Cost Breakdown|
|Quarry Permit Application Fee1||$||250.00|
|Quarry Road Maintenance Fee2||$||1.50||per cubic meter|
|Quarry Administration Fee3||$||1.50||per cubic meter|
|Quarry Restoration Fee4||$||1.50||per cubic meter|
|Quarry Royalty Fee5||$||3.00||per cubic meter|