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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 /> <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 /> <br />STANDARD <br />(1)ALTA Survey (Table A, items: 1-4, 6, 8, 11a, 21) <br />(2)Title Commitment <br /> <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 /> <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 /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />POLICY FOR THE SALE OF CITY OWNED LAND Page 3 of 7 <br /> <br /> <br />