(a) The requirements set forth in R.C. § 721.03 requiring advertising for competitive bids shall not be applicable to the sale or lease of city-owned property or interests therein in furtherance of the economic development purposes of Article VIII, Section 13 of the Constitution of the State of Ohio; and any agreement or such sale or lease may be entered into without any bids being taken or considered.
(b) Council shall, by ordinance and by a two-thirds vote of the members elected thereto, approve the terms and conditions of such sale, exchange of or lease and authorize the proper city official to enter into an agreement with the proposed purchaser(s) or lessee(s). Such terms and conditions shall include non-monetary considerations for the sale, exchange or lease, such as commitments to develop the property, creation or retention of jobs, and other applicable public purposes.
(c) The procedure for sale or lease of city-owned properties under this section shall be as follows:
(1) The property must be of no municipal use or purpose as determined by City Council;
(2) An appraisal must be conducted and the report provided to all members of City Council and the Mayor;
(3) A development agreement must be entered into with any party purchasing or leasing any city-owned land, with the value to the city in any sale, lease, land exchange, jobs created, green space created or any other consideration being greater than the appraised value of any city property being sold or leased.
(Ord. 2021-209, passed 10-18-2021)