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SECTION 5: MARKETING PROCESS <br /> Upon direction from the City Council, city staff shall actively market city surplus owned property <br /> available for sale. The process of marketing City owned land should include 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 firm. <br /> b. Establish an asking price. <br /> c. Establish an acceptable sale price range* <br /> d. Develop and Distribute Basic Marketing Materials and Site Information <br /> e. Complete site preparation due diligence; see below. <br /> Standard due diligence will be completed for all properties available for sale. Staff will <br /> develop a recommendation for EDA and Council consideration for optional due <br /> diligence. <br /> STANDARD <br /> (1) ALTA Survey(Table A, items: 1-4, 6, 8, 11a, 21) <br /> (2) Title Commitment <br /> OPTIONAL (elected) <br /> (3) Phase 1 Environmental Site Assessment (ESA), Phase 2 ESA, Limited <br /> Site Investigation (LSI), Response Action Plan (RAP) <br /> (4) Analysis of Site Specific Available Economic Development Incentives <br /> (5) Geotechnical Soils Evaluation <br /> (6) Hazardous Materials Survey <br /> (7) Wetland Delineation <br /> (8) Concept Site Design <br /> (9) Building Demolition/Site Clean-Up <br /> (10) Shovel Ready Certification <br /> (11) Other work as determined by the Ramsey City Council <br /> *Acceptable Price Range <br /> An acceptable sale price range will be developed by a third party professional; and subsequently <br /> adopted by the City Council in closed session. Staff will utilize this price range to negotiate land <br /> sale prices with prospects. Staff will attempt to maximize the sale price in all land transactions; <br /> and shall be authorized to make counter offers to prospective buyers. If offers received are <br /> below the acceptable price range, staff has the authority to deny an offer. The City may decide <br /> to sell a property below the acceptable sale price range for economic development purposes, to <br /> achieve strategic goals set by the City Council, or any other reasonable cause determined by the <br /> City Council. Economic development projects should be evaluated within the context of the <br /> City's adopted business subsidy policy. <br /> POLICY FOR THE SALE OF CITY OWNED LAND Page 3 of 7 <br />