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6.1. B. - Page 21 6. Negotiations and Agreement with Potential Purchaser or Lessee. After the City has followed the appropriate process for disposing of real property and identified the preferred purchaser or lessee, the City Manager shall enter into negotiations with such purchaser or lessee, as applicable. There should be an informal letter of intent between the parties that summarizes the key business terms and conditions of sale or lease before formal purchase and sale or lease documents are drafted. The negotiations should address the conditions of title and allocation of risks of existing conditions, including hazardous materials. Discovery of hazardous materials may trigger a disclosure the County Board of Supervisors within 72 hours pursuant to Cal. Health & Safety Code s. 25180.7. During negotiations it also may be necessary to agendize a closed session pursuant to Government Code section 54956.8, for the City Council to discuss terms and price of the proposed sale or lease. The City Attorney should be consulted to properly agendize the closed session. The notice for the closed session and the agenda shall identify the subject real property and the person(s) with whom the City Manager may negotiate. Formal City Council approval at a public meeting will still be necessary at a subsequent stage of the process to finalize the disposal of property. 7. Planning Commission Determination. In the event of a proposed sale, the State Planning and Zoning Law require the Planning Commission to make a recommendation to the City Council as to whether or not the proposed disposal is in conformity with the City's General Plan. 8. Formal City Council Approval. At a public meeting, the City Council should formally authorize the sale or lease of the real property and approve the applicable purchase and sale or lease documents. The City Council should also authorize the City Manager to execute any necessary documents to effect the disposition. 9. Written Agreement. A formal written agreement, approved as to form by the City Attorney, delineating the terms and conditions of the purchase and sale or lease transaction should be prepared and signed by all parties. The signed agreement should be provided to a title company in accordance with accompanying escrow instructions in the event of a sale. ATTY/POLICIES/PROPERTY ACQUISITION AND DISPOSITION PROCEDURES REV: 10-04-12 PT Page 17 of 21