Any interest in real property of the city, that is required by this chapter to be disposed of through a public sale shall be disposed of as follows:
(A) APPRAISAL. An estimated value of the property by a qualified appraiser shall be made. Any appraisals must be done within one year of the proposed disposal.
(B) PLANNING COMMISSION REVIEW. The parcels of land to be disposed of shall be reviewed by the Planning Commission which shall make recommendations to the City Manager concerning desirable uses of the property, including projected need, if any, of the land for present or future recreational or other public use. Such recommendation shall be by resolution after public hearing.
(C) CITY MANAGER RECOMMENDATION. After review of the Planning Commission's recommendations, the City Manager shall make a written recommendation to the Council. If the City Manager believes it is in the best interests of the city to do so, such recommendation shall set out the development of the property, and the estimated value of the property as made by a qualified appraiser and the recommended terms and conditions of sale.
(D) CIVIL ACTION. After receipt of the recommendations, the Council may, by resolution, direct the disposal of an interest of the city in the real property under such terms and conditions as it requires.
(E) NOTICE. Notice of the proposed disposal shall be given by whatever means are considered reasonable by the City Manager. The notice must contain a brief description of the land, its area and general location, proposed use, term, computed annual minimum rental or minimum offer, limitations, if any and time and place set for the auction or bid open if applicable.
(F) LAND VALUED AT ONE HUNDRED THOUSAND DOLLARS OR MORE. Any disposal of an interest in real property of the city valued at one hundred thousand dollars or more shall be approved by ordinance instead of by resolution.