CITY PROPERTY OR MUNICIPAL PROPERTY OR PUBLIC PROPERTY: Any property or equity interest in real or personal property held or owned by the City except for mortgages taken or released to secure the installation of subdivision improvements.
FAIR MARKET VALUE: The value of a parcel of property as determined by at least one professional certified real estate appraiser retained by the City.
REASONABLE NOTICE: Public notice made in the same manner as required for land use ordinance changes given at least fourteen (14) days before the opportunity for public comment.
SIGNIFICANT PARCEL OF REAL PROPERTY: A parcel of property having a fair market value in excess of ten thousand dollars ($10,000.00) or which because of its location has significant value to the City. (Ord. 13-08)