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8.A. - Page 18 <br /> • Does the City have a long-term policy, project, program or proprietary interest in <br /> how the property is used? In this case, a long-term lease may make the most <br /> sense. <br /> • Is the property already fully developed, undeveloped or under-developed? If <br /> developed, was it intended to be used as leased space? <br /> • Are there limiting factors based on how the property was originally acquired, <br /> developed or used, such as grant, enterprise fund or donation requirements or <br /> conditions, that would favor or require long-term leasing over direct sale? <br /> • What is the appropriate lease term? Depending on the circumstances, the <br /> Council may enter into a lease for up to 99 years. Terms up to 99 years would be <br /> appropriate for leases where the intent, from a use and developer financing <br /> perspective, is intended to mirror a sale; but for the reasons outlined above, the <br /> City desires to retain fee-title. <br /> In most cases, the decision to sell or lease will require a balancing of competing interests that <br /> can best be weighed by the Council based on the circumstances at the time. <br /> The guidelines below are intended to provide the City with a framework for the best approach <br /> based on general principles. It is not intended to limit the approaches available to the City: the <br /> overarching principle is to utilize the approach that will best accomplish the City's objectives <br /> given the circumstances at the time. <br /> As outlined below, there are four basic approaches that the City may utilize to determine the <br /> best long-term use of City property by prospective purchasers or lessees: request for <br /> proposals, exclusive negotiations, broker services or competitive sealed bids (or a combination <br /> of these approaches). The Council will determine which approach to use on a case by case <br /> basis: <br /> 1. Request for Proposals (RFP). <br /> This approach makes the most sense when the City is initiating the sale or <br /> long-term lease of City property. It provides an opportunity to clearly <br /> articulate the City's policy goals and the general terms and conditions <br /> under which it will select the successful proposal. It is also an inclusive <br /> process and allows multiple proposers to participate in the process. This <br /> approach should be used when there is market interest in City land or <br /> when the City does not want to limit potential responders. <br /> ATTY/POLICIES/PROPERTY ACQUISITION AND DISPOSITION PROCEDURES <br /> REV:10-04-12 PT <br /> Page 13 of 21 <br />