(A) Leasing of city owned or controlled property. The city reserves all rights to leasing of city owned or controlled property but shall offer the market rate value for use of the property as provided in Iowa Code § 8C.6.
(B) Lease term. Leases shall be for no less than 20 years, but all or a portion of the property may be subject to release for public purposes after 15 years as provided in Iowa Code § 8C.6.
(C) Appraisal process for market value determination. If the city and applicant cannot agree on the market rate for a lease on real property or structures owned by the city, the city and applicant shall follow the process set forth in Iowa Code § 8C.6.
(Ord. 2598, passed 12-11-2018)