In Canada, most corporations have directors, officers and shareholders. The day-to-day operations and relatively small changes to the corporations are handled by the directors and officers. However, if a material change is proposed such as an acquisition or merger, the corporations are required to present the proposal to the shareholders for approval.
In Canmore, a very large material change has been put in front of the officers and directors of Canmore: The Smith Creek and Three Sisters Mountain Village area structure plans. If fully approved, it will double the size of Canmore and change the town forever.
The shareholders in this case are the citizens of Canmore. Bylaws allow elected municipal officers to approve such massive change, but I’m not so sure they have the social licence to do so.