(a) The NSP Committee will routinely research the Lorain County Sheriff's Sale agendas for properties within the City's corporate boundaries.
(b) The NSP Committee will evaluate, review and select properties to be acquired through Sheriff's Sales.
(c) The NSP Committee will perform exterior and interior (if possible) inspections of each property to determine each property's designation as a rehabilitation or demolition activity.
(d) A member of the NSP Committee will attend and bid on selected properties at each applicable Sheriff's Sale. The minimum bid at Sheriff's Sale is two-thirds of the Fair Market Value. The City's maximum bid shall not exceed ninety-nine percent of the Fair Market Value in accordance to NSP Guidelines and Regulations.
(e) The NSP Committee is hereby authorized to bid on and purchase those properties eligible under NSP Guidelines pursuant to the terms and conditions provided herein.
(Ord. 2009-58. Passed 2-2-09; Ord. 2009-84. Passed 3-16-09; Ord. 2009-147. Passed 6-1-09; Ord. 2009-179. Passed 8-3-09.)