Surrey City Council is expected to provide City of Surrey staff with the green light today to resurrect SCDC, which was dissolved in 2020 by then-Mayor Doug McCallum and his Safe Surrey Coalition councillors.
This follows the approval of a member motion in late 2022 by the new makeup of City Council directing City staff to come back with a plan to relaunch the City-owned private real estate company.
Prior to its dissolution, SCDC was responsible for catalyzing economic growth and renewal in Surrey, while also providing the municipal government with a revenue source — all in a financially self-sustaining way. This includes building industrial space at Campbell Heights, and its role in spearheading the 52-storey 3 Civic Plaza and Hotel tower.
In a report ahead of today’s meeting, City staff state the “process to re-operationalize SCDC as a for-profit development company is relative straight forward.”
Article courtesy- Daily Hive