Surrey City Council Reveals the Approved Economic Plan to Help Businesses Recover

Surrey City Council Reveals the Approved Economic Plan to Help Businesses Recover

  • British Columbia
  • Business
  • Coronavirus
  • Economy
May 12, 2020

Provinces across the country is planning to re-open and revitalize the economy. Surrey, British Columbia already revealed its plan and approved by the Surrey City Council. The plan is targeted at businesses and development.

British Columbia is unique compared to other provinces in Canada. We the restrictions are mild. People are encouraged to stay home but did not strictly enforce and fine residents making decision to head out. Cinemas, restaurant, and shopping centers are mostly closed. The soft social distancing policy worked to contain the virus. Re-opening in British Columbia should be much easier than other provinces.

Back to Surrey’s plan, the city council is waiving late-payment penalties for licencing fees until 30 days after the state of emergency ends. It will help business owners who are suffering from financial hardship in a time where every dollar counts.

Real estate and construction sector are receiving a strong package. New and current construction project value greater than $25 million in the city centre area will be given a break on related fees. This includes a 50% discount on application fees for rezoning. Development and development variance permit, servicing agreement and building permits. Most importantly, expedited application approval for qualifying projects.

Residence and businesses will benefit from 90-day extension on paying property taxes. Late payment charges commence on Oct 01, 2020.

The government will have a reduced operating budget from providing these financial packages, but it is a necessary move to revitalize the economy. The move will ease financial burden of residence. The city will need to find a way to stimulate consumption as well.

Mayour Doug McCallum said in a news release “the city is taking care of its economic house while keeping a keen eye on how we can ease the financial burden of our residents and businesses during this challenging time.”

The plan aims at city center and we want to see more financial assistance across the whole city and provide more detailed guideline to help other industries. The Surrey city council is striving to assess and gather information from various industries to find out what is needed to be done.

Vancouver is likely to take on a different approach instead of providing a “package”. Victoria is likely to send their economic action plan to their city councils the upcoming days.

Yoyoe Lu

Founder and managing principal

Yoyoe is the founder and managing principal of Claridge. She was ranked one of Vancouver’s top real estate agents. Currently, Yoyoe is our strategic mind leading the team to success. Her affiliation with industry professionals put her ahead of our competitors. Yoyoe is also part of the Rotary Club of West Vancouver, Canadian Homebuilders Association, Urban Land Institute and Urban Development Institute.

Ashley Osborn

Development Site and Investment Specialist

Ashely is our lead land and investment advisor. He has been consistently featured in the annual top 100 real estate deals of British Columbia ranking. With over $15 billion worth of domestic and international real estate investments under his belt, Ashley is one of the top agents in the province. His 20 years of real estate and financial experience make him a master in negotiation and acquisition.

Patricia Wong Chong

Investment and Leasing Specialist

Patricia is our investment and retail leasing advisor. Her experience in brokerage and market research analysis has helped her comprise over $550 million in commercial real estate transactions. Patricia is responsible, detail-oriented, and professional. Her strong work ethic and positive attitude have led her to surpass all her competitors.

Schumann Li

Land Assembly & Residential Specialist

Schumann is a top-producing realtor in the Lower Mainland with more than 30 years’ experience. Over the years, Schumann hasn’t just garnered awards, but the trust of countless customers. Her clients continually refer to her outstanding professionalism, work ethic and poise.

Wendy Kaip

Sales Associate

Whether it’s decoding city policies, strategizing relocation plans, home sellers looking for a trustworthy advisor to unlock their property’s maximum potential- Wendy is here to help every step along the way.

Prior to real estate, Wendy spent over a decade in the mining industry with her attention to detail, keen negotiation skills, extensive network and strong reputation for getting the deal done, bringing endless value to her current real estate clients.

Whether you are thinking about selling to a developer, or have more questions about commercial real estate, Wendy invites you to connect, to see how she can utilize her expertise and team to help create value and maximize your real estate goals.

Simon Chan

Managing Broker

Simon is the managing broker of Claridge Real Estate Advisors Inc. His expertise has helped our agents resolve many difficulties. Not only is Simon knowledgeable with real estate legislation, but he is also very detail orientated. With Simon on our team, our agents are confident to conduct businesses and will always get the support they need to ensure they’re not walking on dirty water.

Frank Zhou


As the analyst of the company, my key job is to help brokers to find marketable clients and locate feasible development sites by collecting and analyzing up-to-date market transaction data and conducting target market and property-level research. Meanwhile, I am also in charge of maintaining the company’s property database to ensure accuracy and comprehensiveness and continuously upgrading the level of knowledge by staying up to date with hot topics, and market trends, and incorporating findings into everyday work. Before joining the company, I worked for CR Group as a real estate investment manager, focusing on capital raising, equity and debt financing, acquisition and renovation. I hold 2 master’s degrees, one in Housing Management and the other in Economics.