The City of Miamisburg may sell any land acquired by it as part of this Land Reutilization Program at such times, to such persons, and upon such terms and conditions, subject to such restrictions and covenants as it deems necessary or appropriate to assure the land’s effective reutilization. Such land shall be sold at not less than its fair market value. “Fair market value” for purposes of this chapter is defined as the appraised value of the 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 be otherwise applicable to such land.
(Ord. 5786. Passed 6-1-04.)