SURREY City Council has voted to dissolve Surrey City Development Corporation (SCDC), a for-profit development company owned by the City, and transfer its assets and operations over to the City of Surrey.
“Council believes the time is right to bring these activities back under the purview of the City and have the work done in house,” said Surrey Mayor Doug McCallum. “I would like to extend my sincere thanks and appreciation of the staff, the board members, and President and CEO of SCDC for their efforts and contributions to Surrey.”
As directed by Council, SCDC is working with City staff to plan a smooth transition process.
“SCDC is immensely proud of its work in advancing the City of Surrey,” said Michael Heeney, SCDC President and CEO. “I am encouraged that the City will continue work on many of SCDC’s initiatives and we will work with them to ensure a seamless transition.”
SCDC was formed with its own management team and board of directors in 2007 to optimize the value of surplus city-owned lands. The City of Surrey has been the sole shareholder of SCDC.
“As we work with the best interests of our citizens in mind, Surrey City Council will continue to sharpen its focus on core city mandated services and how best to streamline them,” said McCallum.