The city may only purchase real property after approval by the commission under the following procedure:
A. When the estimated value of the property is less than one hundred thousand dollars ($100,000.00), the city manager or the manager's designee may negotiate a favorable purchase price on behalf of the city without first obtaining an appraisal of the property. The proposed purchase must be brought to the commission for approval. The city commission shall be provided with sufficient information showing how the recommended purchase price compares with the estimated fair market value of the property.
B. When the estimated value of the property is one hundred thousand dollars ($100,000.00) or more, the city manager or the manager's designee may negotiate a favorable purchase price on behalf of the city. After the city manager has reached an agreement with the seller as to a purchase price contingent upon approval by the commission, the city manager shall cause an appraisal of the property to be done by a qualified, licensed appraiser. If the proposed purchase price is more than five hundred thousand dollars ($500,000.00), the city manager shall have the property appraised by two (2) qualified, licensed appraisers who shall each independently appraise the property without consultation or corroboration with the other as to the finding of an appraised value. If the proposed purchase price is greater than the appraised value, the city manager shall renegotiate with the seller. After all negotiations are concluded, the proposed purchase must be brought to the commission for approval. The city manager or the manager's designee shall provide the commission with the results of the negotiation and the appraised value. The commission may approve the purchase even though the purchase price differs from the appraised value.
C. The commission may waive the requirements of this section or revise the procedure upon a finding that the procedures in this section will prevent the purchase from occurring or that the procedure is not in the best interest of the city. This section does not apply to property purchased with funds from the general obligations bonds (open space bonds) issued pursuant to resolution 11034, dated July 22, 1996, in the amount of five million dollars ($5,000,000.00) for, among other purposes, acquiring and constructing recreational fields and facilities; walking, running, and biking trails; open space lands or interest therein (in or near the city); and park and recreational areas. (Ord. 2905, 2-26-2001)