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SEG11 ON 5: M ARKS I NG PROCESS <br />Upon direction from the Oty Council, city staff shall actively market city surplusowned property <br />available for sale. The process of marketing Oty owned land should indude the following items: <br />Marketing Process <br />a. Establish whom shall actively market the sale of City owned land: city staff or a third - <br />party professional services fi rm. <br />b. Establish an asking price. <br />c. Establish an acceptable sale price range* <br />d. Develop and Distribute Basic Marketing Materials and Ste Information <br />e. Complete site preparation due diligence; see below. <br />aandard due diligence will be completed for all properties available for sale. Gaff will <br />develop a recommendation for EDA and Council consideration for optional and <br />situational due diligence. <br />STANDARD <br />i. ALTA Sirvey(Table A, items: 1-6, 8, 11a, 21) <br />ii. Title Commitment <br />OP770NAL <br />iii. Phase 1 Environmental Ste Assessment <br />iv. Geotechnical SSilsEvaluation <br />S UA770NAL <br />v. Hazardous M aterials Sarvey <br />vi. Wetland Delineation <br />vii. Concept Ste Design <br />viii. Building Demolition and or Ste Clean -Up <br />ix. Conduct Analysis of Available Economic Development Incentives <br />*Acceptable Price Range <br />An acceptable sale price range will be developed by a third party professional; and subsequently <br />adopted by the Oty Council in dosed session. Gaff will utilize this price range to negotiate land <br />sale prices with prospects. Gaff will attempt to maximize the sale price in all land transactions. If <br />offers received are below the acceptable price range, staff has the authority to deny an offer. <br />The Oty may deride to sell a property below the acceptable sale price range for economic <br />development purposes, to achieve strategic goals set by the Oty Council, or any other <br />reasonable cause determined by the Oty Council. Economic development projects should be <br />evaluated within the context of the City's adopted business subsidy policy. <br />POLI CY FORME S4LE OF CITY OWN® LAND <br />