(A) For purposes of this section, the term
SURPLUS REAL ESTATE means any real estate owned by the city and, in the opinion of the City Council, deemed no longer necessary, appropriate, required for the use of, profitable to or in the best interest of the city to be owned by it, or may improve the tax base of the city as a part of an economic development program.
(B) The Mayor and City Council, by resolution, may authorize the sale of any surplus real estate or the leasing of any surplus real estate for a term not exceeding 99 years.
(C) If the Mayor and City Council authorize the sale of any surplus real estate, the value shall be determined by an appraisal, ordered by the office of the Mayor, which appraisal shall be available for public inspection. The Mayor and City Council shall establish a sale price deemed by them to be in the best interest of the residents of the city.
(D) The resolution authorizing the sale or lease of surplus real estate may direct the sale or lease to be conducted by the Director of Finance or by listing with any real estate agent licensed by the state. The resolution shall also contain pertinent information concerning the size, use and zoning of the real estate and the terms of sale.
(E) The Mayor and City Council, by ordinance, may accept, any contract proposal for the sale or lease of surplus real estate determined by them to be in the best interest of the city.
(Ord. 03-33, passed 10-14-2003)