(1) A significant parcel of real property owned by the City shall not be sold, traded, leased, or otherwise conveyed or encumbered until the City has provided reasonable notice and an opportunity for public comment on the proposed disposition, as set forth herein.
(2) Reasonable notice of the proposed conveyance of a significant parcel of real property shall be interpreted to require the following:
(a) Notice of the proposed conveyance shall be mailed to all abutting property owners; and
(b) Notice of the proposed conveyance shall be, if possible and practical, posted on the property proposed for conveyance, posted in the City offices, delivered to a local media representative, and posted on the City's website, at least fourteen (14) days prior to the public hearing on the disposition.
(3) Any notice of a proposed conveyance of a significant parcel of City owned real property shall specify the following:
(a) A description of the property to be conveyed or encumbered;
(b) The nature of the proposed conveyance or encumbrance, whether the property is to be sold, traded, or encumbered;
(c) Persons to whom interests are to be conveyed;
(d) The name of the person or department that may be contacted regarding the disposition;
(e) The basis upon which the value of the interest has been determined by the City; and
(f) The date, time, and location of the public hearing to be held.
The notice shall further state that interested persons may appear and comment upon the proposal.
(4) The conveyance or encumbrance of real property of the City may be finalized by a resolution of the City Council adopting and approving an agreement for the disposition of property and authorizing the Mayor to execute the same.
Ord. No. 07-40, Enacted, 11/15/2007