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EXHIBIT 1 <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 may include: <br />• Will the City be relieved of potential liabilities? <br />• Will the City reduce the cost of maintaining a property that does not generate income <br />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 />• Does the property have greater public benefit potential if retained than if sold or <br />leased? <br />• Will sale of the property generate greater economic value than a ground lease, if a <br />ground lease is a feasible option? <br />Recommendations from the RDPC will be submitted to the City Council for approval. <br />3. CLASSIFICATION OF REAL PROPERTY INTERESTS FOR DISPOSITION <br />In addition to reviewing and recommending City -owned real property for disposition, the RPDC <br />will also include in its recommendation to the City Council a classification of the property into <br />one or more of the following categories (A thru F): <br />A) Significant economic development potential <br />An example of significant economic development potential would be a disposition <br />that results in a development providing new employment, municipal income or tax <br />M <br />19E-7 <br />