Any disposal of a fee simple interest in real property disposed of pursuant to this chapter shall be for the appraised value of the interest being disposed of unless:
(A) The Council finds that a particular disposition for less than appraised value shall be in the public interest. Public interest for the purposes of this subsection shall include a public or quasi-public purpose and use. Public interest shall not include a purpose to return property to private ownership, or to return property to the tax rolls, or to make property available for a desirable private enterprise or development, or other similar purposes; or
(B) The real property was acquired under a tax foreclosure in which case the Council, by resolution, may reduce the minimum acceptable offer to an amount not less than the sum of all back taxes, penalties and interest due or which would have been due if the property had remained in private ownership up to the date of sale, plus all cost of foreclosure, sale, and development incurred by the city; or
(C) The interest being disposed of is an interest in tide or submerged land and the disposal is made in accordance with the City Manager's regulations governing disposal of tidelands.