(a) A transfer of a franchise must not occur without prior approval of the City.
(b) An application to transfer a franchise must provide complete information on the proposed transaction, including details on the legal, character, financial, technical and other pertinent qualifications of the transferee. At minimum, the information required in Section 707.08(e)(1) to (4) must be provided by the proposed transferee. The information required in Section 707.08(e)(5) to (10) must also be provided whenever the proposed transferee expects material changes to occur in those areas.
(c) Final action on an application for transfer of a franchise must be taken by the Council within one hundred twenty (120) calendar days of the filing of the application for transfer of the franchise. Council shall approve the transfer of the franchise unless Council determines that the proposed transferee fails to possess sufficient financial resources and expertise to operate the franchise or Council determines that the proposed transferee will not accept all material terms and conditions of the franchise then in existence or as modified by mutual agreement between the City and transferee. Failure by Council to act within one hundred twenty (120) calendar days automatically approves the proposed transfer.
(d) Approval by the City of a transfer of a franchise does not constitute a waiver or release of any of the rights of the City under this chapter or the franchise agreement.
(e) The City may impose a grant fee to cover its costs in considering an application for transfer of a franchise of up to ten thousand dollars ($10,000), less the franchise transfer filing fee.
(Ord. 75-89. Passed 6-26-89.)