19E - REAL PROPRETY DISP POLICY - Laserfiche WebLink

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EXHIBIT 1 not apply to disposition of real property that has not been used by the City and acquired or held for purposes of exchange or sale as a remnant in connection with implementation of a City project). • Community Comment Required Prior to Issuance of Solicitation: Prior to the City Council approving properties for inclusion on the list of properties available for disposition, or authorizing issuance of solicitations for disposition (e.g. Requests for Proposal, listing for sale or lease, etc.), the City shall conduct a noticed neighborhood meeting pursuant to Section 2-153 of the Santa Ana Municipal Code (relevant portions of Ordinance NS -2838 "Sunshine Ordinance") in order to obtain neighborhood comment on the proposed disposition and future use(s) of the real property in question. • Special Requirements Related to Disposition of Park Land: Real property designated as park land often have special restrictions related to the source of funds used for the original acquisition or site development. Such restrictions can arise from covenants restricting use to park purposes and the source of funds used to acquire the real property. • Appraisal and Authorization of sale by City Council. Upon approval by the City Council that a property may be sold, the City Manager is authorized to sell the property for a price equal to or greater than a minimum price established by a current (less than one (1) year old) appraisal. Method of Sale: Properties may be sold by any method allowed by the Municipal Code and this Policy. This includes direct negotiation, request for proposal, listing with a broker, sealed bid, auction or other appropriate method as recommended by the City Manager and approved by the City Council. As appropriate, disposition agreements shall include reasonable 'olawback" provisions that provide the City the ability to regain ownership of a property as one remedy for non-performance by purchaser or lessee under a disposition agreement or lease. • Marketing: Properties offered for sale shall receive the widest possible exposure to the market. This may be accomplished through direct marketing techniques, such as requests for proposals (RFPs), advertising, exposure through the real estate media, posting the property on the multiple listing service or any other appropriate method. • Use of Proceeds: For transactions where the City retains disposition proceeds, the City Manager may recommend use of proceeds; however, the City Council retains approval discretion on use. Application of disposition proceeds toward 'one time" expenditures, such as deferred maintenance for city owned assets (parks, community centers), and other possible one time uses, should be prioritized. • Use of Real Estate Brokers: Real estate brokers may be used to represent the City in the sale of its properties. Brokers will be selected for individual assignments through Requests for Proposals (RFP) or Requests for Qualifications (RFQ) and a subsequent bid or other methods that result in the City receiving the services of a qualified broker at the best value to the City. If the property is listed with a broker, the City reserves the right to exclude from the listing agreement potential buyers whose interest in purchasing 6 WMIC