60A - PROPERTY DISPOSITION POLICY

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Real Property Disposition Policy July 3, 2018 Page 2 The Policy is comprised of seven (7) sections: • Background: This section includes a guiding policy to optimize sale price or lease rental; and allows for consideration of the value of special benefits. • Designation of Custodian of List of Real Properties Available for Disposition: This section designates the Clerk of the Council to function as the official custodian of the City's real property list that will be available for disposition and subject to this policy. This list will be made available to the public. • Process to Determine Real Property Interests Potentially Available for Disposition: This section establishes a Real Property Disposition Committee (RPDC), comprised of City staff, that will guide the process to review and recommend available City property for inclusion on the disposition list. The properties identified for disposition will need to satisfy several criteria as outlined in pages 2-3 of the Policy. • Classification of Real Property Interests for Disposition: During the process, the RPDC will include its recommendation to City Council a classification of the property into one or more categories (economic development potential; housing developing potential; public use potential for parks, recreation and open space; community use/benefit potential; neighborhood beautification potential; or adjacent owner assemblage). These classifications will inform preparation of disposition solicitations. • Provisions Related to Disposition to Non -Profit and Community Organizations and Entities: This section provides a process for non-profit and community organizations to formally affirm their interest in acquiring or leasing city property for community use, benefit or beautification projects. The purpose of this provision is to assist the City in determining the organizational capacity of these organizations to carry out their desired use of the property. • Requirements/Procedures for Sale of Real Property Assets and Interests: This section provides the disposition procedures and details on any special requirements before disposition such as the use of brokers, appraisal of the property and soliciting community input before the sale of the property. • Leasing of City Real Property: This section provides a process for the leasing of City owned property. The above sections outline the City's process for disposition of city -owned property and establishes the criteria for how the community can be involved in the process. On March 22, 2016, CDA staff met with the Equity for All Coalition, a group of non-profit community organizations, to review and solicit input on the draft disposition policy. On April 18, 2018, CDA staff met again to review the draft disposition policy with Equity for All Coalition and local residents. Upon receiving this input, several modifications were made to the Policy. This administrative policy will be reviewed by staff on an annual basis. 60A-2