The corporate authorities hereby determine that the method by which the surplus real estate shall be reconveyed or exchanged with any owner of land in the village shall be as follows:
A. The corporate authorities may negotiate, through the village president, or his designated representative, for the reconveyance of land or relocation of easements, in whole or in part, that formerly had been quitclaimed or granted to the village for various public purposes, on such terms and conditions as the corporate authorities determine to be in the best interest of the village.
B. The corporate authorities may select one or more methods of adjusting the boundaries or area of any owner's lot that is to be used for public purposes and may agree with such owner to effect such adjustment by reconveying land to such owner, executing a plat of subdivision or resubdivision, agreeing to the relocation of an easement area by written instrument or a new easement plat or by exchanging land formerly quitclaimed to the village for some other portion of such owner's land. The corporate authorities may authorize the reconveyance of surplus real estate to an owner or the relocation of any easement area for only nominal consideration or for such consideration as the corporate authorities determine to be in the best interest of the village.
C. The corporate authorities shall authorize the disposition of surplus real estate by ordinance passed by affirmative vote of three-fourths (3/4) of the corporate authorities. Provided the three-fourths (3/4) vote is obtained, such ordinance may take the form of an ordinance that approves a final subdivision plat, plat of resubdivision, easement instrument or easement plat, quitclaim deed or a special use for the land in question. (Ord. 06-5-9, 5-2-2006)