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6.1. B. - Page 11 <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 <br /> REV: 10-04-12 PT <br /> Page 7 of 21 <br />