(A) No agreement shall be entered into by the city or the Metropolitan Redevelopment Agency which provides for the acquisition or condemnation of real estate by the city and a subsequent conveyance of such real property to a private entity, without prior review and approval by the City Council of the terms and conditions of each particular acquisition or condemnation.
(B) The City Council may require, as a condition of its approval and without limitation, such terms and conditions as are reasonably necessary to protect the interests of the public, including any condemnee. Furthermore and in determining whether to approve the exercise of the power of eminent domain, the Council shall consider whether there exists a genuine need to acquire real property in order to accomplish the goals of a metropolitan redevelopment plan, and before approving the subsequent conveyance of such property to a private developer, the Council shall consider whether the property is being sold, leased, or transferred at not less than fair value for uses in accordance with the Metropolitan Redevelopment Code.
(C) Any applicable condemnation in process shall be stayed pending compliance with this resolution.
(Res. 52-2001, approved 3-5-01)