For any acquisition or transfer made under authority granted in this Division, the County shall make available, for public inspection and copying at a cost not to exceed the cost of duplication, a report no later than the time of publication of the first notice of the hearing mandated by § 110.0502. This report shall contain both of the following:
(a) A copy of the proposed acquisition or transfer document.
(b) A summary that describes and specifies all of the following:
(1) The cost of the agreement to the County, including land acquisition costs, clearance costs, relocation costs, the costs of any improvements to be provided by the County, plus the expected interest on any loans or bonds to finance the agreements.
(2) If the transaction is a transfer, the estimated value of the interest to be transferred, determined at the highest and best uses permitted under the general plan or zoning.
(3) If the transaction is a transfer, the estimated value of the interest to be transferred, determined at the use and with the conditions, covenants, and development costs required by the transfer.
(4) If the transaction is a transfer, the purchase price or present value of the lease payments which the lessor will be required to make during the term of the lease. If the sale price or total rental amount is less than the fair market value of the interest to be conveyed or leased, determined at the highest and best use, then the County shall provide as part of the summary an explanation of the reasons for the difference.
(5) An explanation of why the acquisition, sale, or lease of the property will assist in the creation of economic opportunity, with reference to all supporting facts and materials relied upon in making this explanation.
(Ord. 4316, passed - -2017)