An HRA is a voluntary, negotiated agreement between the owner of a heritage property and the municipality

• It allows for the development of a site in exchange for legal protection and an agreement by the owner to protect and maintain the heritage aspects of the property.

• The legal protection follows the property; a new owner is bound by the same agreement.

• Sets the form and scale and terms of development on the property and is unique to that property.

• Can vary density, use and siting regulations to make it financially and logistically viable for an owner to protect a heritage resource.

• Typically negotiated through re-zoning and Public hearings and need to be approved by Council.

• This agreement can be drafted before a house is sold on the understanding that the buyer MUST implement the terms of the agreement. This allows a homeowner to sell the house, knowing it is going to be protected, without incurring the cost of the development.