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A. If the subject property is declared surplus, the city of Vancouver Property Services Manager or designee shall prepare a proposal for disposition of the property in a commercially reasonable manner and in compliance with the adopted resolution.

B. The Subject Parcel shall be marketed by the city of Vancouver Property Services Manager or designee using resources common to the marketing of such property, including but not limited to installing signs, distributing offering information to local real estate firms, and publishing offering information in a newspaper of general circulation in the City.

C. The Property Services Manager or designee shall be authorized to negotiate with prospective purchasers.

D. The Property Services Manager or designee shall prepare a written proposal for disposition of the Subject Parcel, which shall include the following information, as applicable, for each Subject Parcel:

1. Assessed value of the Subject Parcel;

2. Appraised value as determined by a sufficient and acceptable appraisal performed by a licensed appraiser using a commercially reasonable method of appraisal or by a market opinion or other commercially reasonable method of valuation from a licensed real estate professional or other qualified person when such a method would be more cost effective depending on the size, nature, estimated value and current market conditions of the Subject Parcel;

3. Explanation as to reasons for selection of appraisal or other method;

4. Whether further appraisal or review appraisal before sale is recommended;

5. Whether the Subject Parcel is only usable by abutting owners or is of general marketability;

6. Whether the Subject Parcel can only be put to its highest and best use when aggregated with an abutter’s property because of its size, shape, topography or other restriction, and a recommendation as to whether the Subject Parcel should be negotiated for sale to the abutter, provided that the abutter is willing to purchase for the appraised value of the Subject Parcel; or if more than one qualifying abutter expresses interest in purchasing the Subject Parcel, a recommendation as to whether the City should solicit sealed bids from all abutters;

7. Whether special consideration should be given to some other public agency that has a use for the Subject Parcel;

8. Whether the Subject Parcel should be sold by some specifically-recommended process other than that specified in the resolution;

9. Whether any special covenants or restrictions should be imposed in conjunction with sale of the Subject Parcel;

10. The potential for disposition of the Subject Parcel for exchange of value other than cash, and the value of any real property, improvements or construction of improvements proposed for exchange;

11. Whether it is in the public interest, as defined in this ordinance, to dispose of the Subject Parcel for an amount less than its appraised value;

12. Whether good cause has been shown for City payment of any costs associated with sale of the Subject Parcel;

13. Whether good cause has been shown for conveyance of the Subject Parcel by instrument other than quitclaim deed.

E. Committee Review. A real estate review committee shall review the proposal for disposition and shall provide a final staff recommendation to the City Council with respect to the disposition of the Subject Parcel. The Committee shall be composed of the Property Services Manager or designee; the Finance Director or designee; the City Attorney or designee; and the department head or representative most directly affected by the property transaction. (Ord. M-3923 §7, 2009)