4.84.010 - POLICY AND PROCEDURES FOR DISPOSITION OF CITY-OWNED REAL PROPERTY
A. Policy. The City Council declares that it is in the public interest for real property held by the City to be returned to the tax rolls, if it is not needed for some present or future municipal use and if it can be sold for a reasonable return. It is therefore the policy of the City to dispose of all real property in which the City holds a fee interest, where such property is surplus to its current or future needs, and where such disposition would afford the City a reasonable return from the transaction. For purposes of this Chapter, “reasonable return” means sale at an amount equal to, or greater than the appraised value (see subsection 4.84.030 A.). For purposes of this Chapter, “surplus property” means both real property for which the City has no current or future need, as well as real property, which, if disposed of, would be put to a higher or better use for the community at large. B. Procedures. Unless authorized for Special Disposition Process by the City Council (Section 4.84.070), real property declared surplus may be disposed of for a reasonable return by any of the following means (as further detailed in Section 4.84.030): 1. sealed bid, 2. auction, or 3. negotiated sale. C. Special Disposition Process. In cases where the public interest in a reasonable return is outweighed by the public benefit, due to factors such as (by way of illustration and not limitation) the unique character or development potential of a given property, the City Council may designate such property for disposal by Special Disposition Process, including disposal at less than appraised value, pursuant to Section 4.84.070, below. The Special Disposition Process may include (without limitation) sale by any of the methods set forth at subsection B. above, options to purchase, lease purchase transactions, or other commonly used, commercially reasonable means of disposal. D. The procedures for disposition of City-owned real property as provided in this chapter shall not apply to transfers of real property by the City of Bellingham Public Development Authority. Transfer of City-owned real property to the Bellingham Public Development Authority and subsequent sale shall be governed by State law, RCW 35.21.730 - 35.21.755, as now constituted or hereafter amended. [Ord. 2009-01-002; Ord. 2003-11-072]
