(a) If a buyer interested in property possessing unusual impairing physical characteristics presents a signed purchase agreement to the Department of Planning and Development regarding property perceived to no longer be needed for any public purpose, and which purchase agreement illuminates unusual or impairing physical characteristics of the parcel, the Council may, without competitive bidding, agree to accept the purchase agreement or modify the purchase agreement for acceptance by the purchaser so long as Council determines by ordinance that the real property proposed for sale is not needed for any public purpose and so long as Council identifies in the ordinance the unusual or impairing physical characteristics that negate the marketability of the real property such that competitive bidding is unlikely to attract other bidders likely to return the property to productive service. Unusual or impairing physical characteristics are defined as, but not limited to, minimal width lots, wetlands, land locked parcels, lots unbuildable because of set back or other restriction, and parcels containing topographically challenging features or insufficient area.
(b) If a buyer interested in property that may be turned into an immediate economic benefit to the City, above and beyond the sale price, presents a signed purchase agreement to the Department of Planning and Development, along with a current property appraisal prepared by a State certified real property appraiser in support of the offer, and said purchase agreement contains a condition that any sale pursuant to it shall result in submission of a development plan and commitment to commence construction within six (6) months or some greater time as Council may approve, and, if not complied with, will cause a refund of the purchase price and reverter of the real property to the City, and so long as the amount of real property being acquired is less than (10) ten acres, then the Council may agree, without competitive bidding, to accept the purchase agreement or modify the purchase agreement for acceptance by purchaser so long as Council by ordinance, identifies the time sensitive nature of the development and of the economic benefit to be gained by prompt action to conclude the transaction.
(Ord. 14-O-103. Passed 10-21-14; Ord. 18-O-075. Passed 9-4-18.)