(A) Public access to inventory. The Authority shall maintain and make available for public review and inspection an inventory of real property held by the Authority.
(B) Power. The Authority may convey, exchange, sell, transfer, lease, grant or mortgage interests in real property of the Authority in the form and by the method determined to be in the best interests of the Authority.
(C) Consideration.
(1) The Authority shall determine the amount and form of consideration necessary to convey, exchange, sell, transfer, lease as lessor, grant or mortgage interests in real property.
(2) Consideration may take the form of monetary payments and secured financial obligations, covenants and conditions related to the present and future use of the property, contractual commitments of the transferee and other forms of consideration as determined by the Board to be in the best interest of the Authority.
(D) Policies and procedures.
(1) The Board shall determine and state in the Authority policies and procedures the general terms and conditions for consideration to be received by the Authority for the transfer of real property and interests in real property, including, but not limited to, a process for distribution of any proceeds to any claimants, taxing entities and the Authority.
(2) Requirements which may be applicable to the disposition of real property and interests in real property by municipalities or counties shall not be applicable to the disposition of real property and interests in real property by the Authority.
(E) Ranking of priorities.
(1) The Authority may establish a hierarchical ranking of priorities for the use of real property conveyed by the Authority, including use for:
(a) Purely public spaces and places;
(b) Affordable housing;
(c) Conservation areas; and
(d) Retail, commercial and industrial activities.
(2) The priorities established may be for the entire land reuse jurisdiction or may be set according to the needs of different neighborhoods or other locations within the land reuse jurisdiction, or according to the nature of the real property.
(F) Land use plans. The Authority shall consider all duly adopted land use plans and make reasonable efforts to coordinate the disposition of Authority real property with the land use plans.
(G) The Board may delegate to officers and employees the Authority to enter into and execute agreements, instruments of conveyance and other related documents pertaining to the conveyance of real property by the Authority.
(Ord. passed 5-7-2019)