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determine which properties are remnant, surplus, unneeded, or marginally used and <br />therefore potentially available for disposition. <br />A City owned property may be recommended for disposition by the RPDC if: <br />Disposition is required by the terms of the funding used to acquire the property. <br />• The property is not currently used by a City department or does not support a <br />municipal function. <br />• The property is vacant and has no foreseeable use by the City. <br />• The property is a non-performing or under -performing asset and greater value <br />may be generated by its sale or lease. <br />• Significant economic development opportunities may be generated by selling or <br />leasing the property. <br />• Disposition facilitates acquisition of real property required for a City project, or <br />acquisition of other real property required for a City project. <br />• In the opinion of the Executive Director of Parks, Recreation, and Community <br />Services, the property does not provide significant park, recreation, or open space <br />use opportunities, or if it does, no means of financing the development of the real <br />property for park, recreation, or open space use is reasonably foreseeable. <br />• Disposition has potential to support development of affordable housing, parks and <br />open space, community benefit uses, or neighborhood beautification. <br />Nothing in the foregoing shall preclude the ability of the City to dispose of or exchange real <br />property acquired in connection with a specific project if the disposal or exchange facilitates <br />acquisition of another real property or real property interest needed for the same, or a closely <br />related project. <br />Factors to be considered by the RPDC in determining whether a property should be <br />recommended for disposition include: <br />• Will the City be relieved of potential liabilities and/or cost of maintaining a property <br />that does not generate income or provide public benefit? <br />• Will new property tax be generated by the sale? <br />• Will disposition stimulate the local economy by providing opportunities for private <br />sector investment? <br />