Following Council approval of a suitable conservation easement, property acquired to be part of the Open Space Program may be resold. Such sale shall be subject to the following terms and conditions:
(a) Public notice shall be given in the official publication instrument used by the Village of Yellow Springs for its other legal advertising, at least once a week for three weeks, and at least one time a week for three weeks on different days of the week in at least one other newspaper.
(b) No offer shall be formally accepted by Village Council, nor shall any other sale commitment be made until a minimum of thirty days have passed from the first date of publication.
(c) All advertisements and offers for sale shall stipulate that the proffered land is subject to the above cited conservation easement, and any person who makes an offer to buy the subject land must acknowledge in writing its existence and his or her familiarity with it.
(d) Prior to offering any land for sale, Council shall establish a minimum acceptable price.
(e) Subject to the above limitations, Village Council may elect to sell the property by means of:
(1) The services of an agent (realtor, broker or other) whose method of selection and terms of engagement shall be determined by Council, in which case the effective date of the listing shall follow the period prescribed for public advance notice of sale;
(2) A sealed bid; or
(3) Public auction.
(f) Village Council may, in determining the best bid, consider, in addition to any cash offer, any offer of other land or real estate rights (e.g. a conservation easement) on land having value as a constituent of the Village's Open Space Program.
(g) If no acceptable bids or offers are received, Village Council may decide to hold the land, attempt to sell it later or try selling it by another method.
(h) The Village shall require that the buyer obtain a title examination at the buyer's expense prior to closing.
(Ord. 92-8. Passed 5-4-92; Ord. 93-6. Passed 5-17-93.)