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6.C. - Page 14 of 29 <br />Leases should normally be included as part of the City's CIP process. <br />However, as needed, the City may consider renting or leasing property as <br />required to meet the City's operational needs at any time. <br />Depending on the complexity of the transaction, market conditions and <br />other circumstances at the time, the City may choose to be represented <br />by a broker or other third party professionals in renting or leasing real <br />property. Brokers or other third party professionals will be selected in <br />accordance with the City's purchasing policies. <br />4. Property Exchange <br />The City Council may also determine that exchanging land or parcels may <br />best meet the needs of the City and or another public agency such as a <br />school or County facility. In these situations, the City may negotiate to <br />"swap" land through a purchase and sale. Both properties should be <br />assessed to ensure the properties are valued similarly or it not, one party <br />may need to pay the difference between the values of the exchanged <br />properties. <br />C. General Procedures <br />The Project Team should follow the steps set forth below to ensure that the acquisition of real <br />property is handled in accordance with applicable laws and regulations. There may be <br />exceptions necessary or appropriate on a transaction -by -transaction basis, particularly with <br />respect to dedications as a result of land use approvals. <br />1. Preliminary Site Identification and Investigation of Value. <br />In addition to those instances when private parties approach the City to <br />propose the sale of real property, the City Manager may from time to <br />time ascertain the availability of funds to acquire properties in <br />conformance with the strategic objectives identified for land acquisition <br />and identify certain parcels of real property situated in or near the City <br />believed to be necessary or suitable for public purposes. The City <br />Manager will typically utilize informal means, such as reported listings <br />and broker information, for estimating the market value of the potential <br />acquisition site in order to determine whether opportunities should be <br />pursued. <br />ATTY/POLICIES/PROPERTY ACQUISITION AND DISPOSITION PROCEDURES FINAL <br />REV: 09-16-13 PT <br />Page 8 of 22 <br />T <br />