Did Council consider retaining the property and renting out space in the building?
Yes, and it was decided that this is not a preferable option. Expensive renovations would be required, and increased staff time would need to be devoted to being a landlord in addition to the time currently spent on building operations and maintenance. A better use of CCOA resources is to support staff in fulfilling our regulatory and strategic priorities in the public interest.
Where will the CCOA Office be if the property is sold?
We are currently exploring leasing opportunities. CCOA will send out a notice when and if our office location changes.
Did Council consider purchasing a smaller property rather than leasing?
Yes, however, the leasing market is currently more favourable over purchasing. If in the future purchasing becomes more favourable, Council could consider the purchase of a smaller property. The CCOA intends to maintain an accommodation reserve which will give the organization flexibility to consider purchasing a property in the future, in addition to mitigating the inherent risks of leasing.
What will the CCOA do with the proceeds of the sale?
The CCOA’s mandate is to serve the public interest. Our main priority is to implement regulatory and strategic initiatives that increase safety, competence and ethics in chiropractic care. CCOA will use the proceeds of sale to:
- Help fund regulatory programs that improve professional standards, patient safety, continuing competence and new member programming.
- Contribute to reserve funds needed for organizational and regulatory risk management as well as maintain an accommodation reserve which will give the organization flexibility to consider purchasing a property in the future.
- Help to keep future increases in fees and levies as low as possible.
Although CCOA is accountable to the public, we owe it to registrants to be a responsible steward of resources. Responsible stewardship helps to keep increases in fees and levies as low as possible and allows for time and resources to be put toward programming in the public interest.
Will there be a refund of the past levies paid by chiropractors to fund the building purchase?
No. The decision to purchase a building and levy the membership to pay off the mortgage was made many years ago by the combined Alberta College and Association of Chiropractors (ACAC). The real estate market, in-office working environment and combined Association/College staffing were factors that supported the decision.
Over time, ACAC members realized the benefit of property ownership through the leveling of ACAC fees, avoidance of leasing fees, and substantial funding to establish a successful standalone Chiropractic Association of Alberta (CAA) when the College and Association were mandated by government to separate.
Listing
The listing will be published by the realtor on Tuesday, July 30. The link will also be posted on the Members' Home page on our website. Please forward to anyone who may be interested.
Timing of sale
We do not know if or how long it will take for the property to sell.
Questions?
Email office@theccoa.ca.
