The City may sell any land acquired by it as part of this land reutilization program at such time, to such person or entities, and upon such terms and conditions subject to such restrictions and covenants as it deems necessary or appropriate to assure the lands effective reutilization. Said right to sell shall include the right to grant easements for public highway purposes. In the event of the sale of real estate, the sale shall be at fair market value, defined as the appraised value of nonproductive land made with reference to such redevelopment and reutilization restrictions as may be imposed by the City as a condition of sale, or as may otherwise be applicable to such land.
(Ord. 05-11. Passed 6-14-05.)