If the consideration to be paid by the city for a proposed acquisition of an interest in real property exceeds $500,000, the city manager must obtain two independent fee appraisals of the real property interest to assist in determining the current market value of the real property interest to be acquired by the city. To the extent allowed by law and after a review of the specific circumstances, the city council may, by resolution, waive the requirement for two independent fee appraisals established under this section and require only one independent fee appraisal instead. (Ord. Nos. 20818; 26804)