Book 1 - Appraisal Institute of Canada

NewsResearch and Development FundThe Appraisal Institute of Canada (AIC) Research andDevelopment Fund was established by the Institutein 1973 as a Registered Canadian Charitable Organizationto conduct research studies in the field of realproperty valuation techniques and procedures, withparticular emphasis on the effects of current economicdevelopment and real property value. Overthe years, the Fund was developed and maintainedthrough generous contributions from the membershipof the Institute. In recent years, greater focushas been placed on the Fund and a new mandatealong with a new committee has been establishedwith the aim of reinvigorating the program.The Fund and its work is anchored in theInstitute’s Strategic Plan, which states “new methodologiesand practices will be developed, supportedby innovative core education and continuingeducation programs, involving the principlesof value in real estate and related property.”The Fund’s research program conducts studiesin the field of real property valuation techniques andprocedures, with particular emphasis on the effectsof current economic development and real propertyvalue. The Institute encourages research thatsupports its mission to protect the public interestand support members by ensuring high standardsof professional real estate and related property advisoryservices. Consideration will be given to projectsrelated to the application of existing valuationtechniques to new areas as well as the developmentof new concepts in valuation.The Fund is overseen by the AIC Board ofDirectors. As such, the Board approves all researchprojects and authorizes the disbursement of anymonies from the fund.The Research and Development Committeeis chaired by Carole Cowper, AACI and includesmembers Keith Goodwin, AACI; Glen Power, AACI;Professor Jane Londerville, AACI (Hon) from theUniversity of Guelph; and Scott McEwen, AACI, whois the AIC Board liaison.The Research and Development Fund Committeeestablishes the R&D research agenda by identifyingpertinent research topics and issuing requestsfor proposals published with the aim of attractingBy Carole Cowper, AACI, P. App, Chair, R&D Committeequalified researchers in the field and encouragingthem to submit letters of interest. Specific funds willthen be allocated to qualifying projects.The committee has been developing a list ofcurrent topics which satisfy the Fund’s researchcriteria as outlined in the terms of reference. Ofthese, sustainable/green valuation has emerged as ahigh priority research topic in both commercial andresidential properties. The committee is interested ininitiating research which could identify and developeffective methodologies to determine the contributionof sustainable/green factors to market value.The Fund is an important research tool that canhelp the Institute to advance appraisal practice byensuring that it is state-of-the-art. Moreover, theresearch and subsequent publication resulting fromthe Research and Development Fund will be sharedwith the international community as Canada’s contributionto intellectual transfer in the appraisal field.The appraisal community and interestedresearchers are encouraged to submit topic ideas(R&D@aicanada.ca) that satisfy the Research andDevelopment Program’s criteria. The Research andDevelopment Fund also welcomes letters of interestfor joint research initiatives from like-mindedorganizations in Canada and abroad, where suchproposals are germane to the real property appraisalresearch field and are of mutual interest.The Research and Development Committeewill consider all proposals that meet the Researchand Development Program criteria, whether submittedby members or non-members. Proposalsfrom outside Canada will also be consideredprovided that they are written in one of Canada’sofficial languages.The research must extend the knowledgeof those in the valuation discipline and must berelevant to the practice of real estate valuationwithin Canada. Any study/paper produced willbecome the property of the AIC and will becopyrighted so that further use may be made onlyupon written permission of the Institute.Research grants will be awarded annually toindividuals or organizations whose project proposalsare recommended by the Research and DevelopmentCommittee and approved by the AIC Board.Letters of interest will be judged on their overallquality. They should have high intrinsic value andintellectual or creative merit – posing a significantquestion, exploring an important issue, addressing achallenging problem, or expressing a new idea. Theletter should also hold out the promise of makingworthwhile contributions to the profession and bewell-conceived, with achievable goals, a realisticschedule, and an estimate of budget. Proponents ofsuccessful Letters of Interest may be asked to providea more detailed research proposal before theirfunding commences.The reports resulting from approved researchprojects will be published by the Institute anddisseminated nationally and internationally.Proposals should be emailed to R&D@aicanada.caor mailed to the address noted below.Tax deductible donations to the Research andDevelopment Fund can be made payable to: TheResearch and Development Fund of the AppraisalInstitute of Canada, 403 - 200 Catherine Street,Ottawa, Ontario K2P 2K9In memoriamThe following member of the AppraisalInstitute of Canada has passed away. Onbehalf of everyone connected with theInstitute and the profession, we extendour sincerest sympathies to the family,friends and associates.Le membre suivant de l’Institut canadiendes évaluateurs sont décédés. Au nom detous ceux qui oeuvrent de près ou de loinau sein de l’Institut et de la profession,nous exprimons nos plus sincères condoléancesà le familles, amis et associés.John Kneale, Candidate RetiredSurrey, BC36Canadian Property Valuation Volume 54 | book 1 | 2010 Évaluation Immobilière au Canadaclick here to return to table of contents