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w w w . C A N A D I A N L a w y e r m a g . c o m O C T O B E R 2 0 1 6 21 of designations over his nine years with the city though, largely as a result of the incen- tives available. Vancouver has a similar approach through the Vancouver Charter, the pro- vincial statute that grants the city specific powers. Those with heritage properties are granted relief to compensate for any drop in market value resulting from the designation. They can seek tax exemption for up to 10 years. In certain designated areas, they can also take advantage of the city's transferable heritage density bonus system by entering into a Heritage Revi- talization Agreement with the city. Vancouver's heritage building owners can transfer any excess density not being used on the heritage site to another devel- opment. The square footage is calculated and placed on the Heritage Density Inven- tory list. Developers looking to increase their density on another building in eli- gible areas can expand upon the allowed density by purchasing extra density from the heritage owner on the list. As of the end of July, there was 342,702 square feet of density shown on the inventory list for other developers to purchase. "It works," says Peter Tolensky, a part- ner with Lawson Lundell LLP, who has acted for heritage property developers in several real estate deals largely in Vancou- ver's historic Gastown area. "There's quite a bit of heritage acquisition because there's quite a bit of development activity now in the city. And the city seems to be keen on encouraging developers to take advantage of the density program. "The city has created this market for the transferable density. It is dependent on there being additional developments that can receive the density." The concept of legal protection of buildings dates back to the fifth century and Emperor Majorian's efforts to protect parts of ancient Rome. He imposed a pun- ishment of 50 pounds of gold for judges allowing the destruction of public build- ings. Their subordinates were whipped and their hands amputated. The preservation of built heritage has since evolved and, by the 20th century, heritage legislation existed in most Euro- pean cities and began to appear in North America, beginning in Charleston, S.C. Quebec's Cultural Property Act is largely believed to be Canada's first legislation that led to the conservation of several Montreal buildings in the 1960s. And in 1975, Ontario enacted its heritage act, but it allowed protection only up to 270 days. By the time Ontario revamped its legislation in 2005, it was one of the last provinces to offer permanent protection to built heritage. Despite all the efforts, there remains no agreement on what rules and motivations are most effective to encourage heritage designation of buildings. But those who advocate for their legal protection say designations should be awarded, not compensated. While municipalities, which follow the direction laid out by provincial legislation, are often hesitant to impose a heritage des- ignation against the wishes of the property owner, National Trust for Canada's execu- tive director Natalie Bull argues that desig- nation was never meant to be an agreement between two parties but is designed as a protective measure similar to how zoning, 1991 2016 FCT Commercial or Residential. We've got you covered. FCT has been leading the charge in the Canadian title insurance industry for 25 years and still knows it best. Choose a partner that will stand the test of time. Choose FCT. ® Registered Trademark of First American Financial Corporation. X FCT.ca I 1.800.307.0370 Untitled-5 1 2016-05-12 2:25 PM

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