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After a property is deemed surplus City owned land, consideration for the sale or disposition of property <br />depend on the criteria outlined below. <br />(1) Ability to develop (utilities, size, stormwater, soils, roads, legal restrictions, etc.) <br />(2) Publicinput and feedback regarding potential future development <br />(3) Feasibility Ibport: <br />All costs incurred by the City in order to sell surplus City owned land should be weighed <br />against a payback to the City in property taxes; and land sale proceeds. A present value <br />calculation of property tax cash flows with a discount rate determined by the City's financial <br />advisor shall be utilized. This specific calculation, and the City's acceptance threshold may <br />change on a project -to -project basis. <br />(4) Any other reasonable cost determined by the City Council <br />PMCYFORME S4LEOFOTYOWNED LAND Page 2 of 6 <br />