Any real estate that is sold by the City, at any time in the future, shall be sold by public bid, for a price not less than sixty percent (60%) of the tax market value of the real estate being sold as determined and established by the Auditor’s Office of Lorain County, Ohio, for such real estate. Nothing in this section shall preclude or prevent the City from determining a minimum sale price in excess of the amount established herein. However, in no event shall any real estate owned by the City be sold for a price less than the minimum sale price established herein, or the sum of one thousand dollars ($1,000) whichever is greater.
(Ord. 63-18. Passed 10-23-18.)