Resolution No. 3747 - Laserfiche WebLink

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LANDQANKING PROGRAM -- -SI DISPOSITION POLICY . Program Goal s. All real property transactions shall be evaluated by the responsible public official on the basis of compliance with the following program goals: To facilitate production of housing units which provide increased availability or choice for the community's low- and moderate- income families, elderly, transients or handicapped citizens, to reduce the risk associated with the development of experimental or innovative housing, or to ensure an adequate supply of land for developers who participate in public purpose housing projects. Sites may be disposed of to for - profit, non -- profit, public, or quasi-public housing sponsors, or a combination of the foregoing. 3. Sale Price. Property may be disposed of th,i'ough dedication, lease,, donation, convey- ance, or sale at or below fair market value. Donation or sale at less than fair market value shall be based on a finding that such a transaction is necessary to the Financial feasibility of the project. 4. Method of Suonsor Selection. Proposal s for use of l andbanki ng si tes may be sol i ci ted through di rect or indirect invitation. When direct invitation and competition among sponsors is involved, consideration shall be given to proposals providing for even- tual reimbursement to the City. 5 , Sale of Excess Property. Property may be sold with no consideration of specific program objectives upon a finding that: A. The subject property is excess, not needed after site development; or Q. The site is judged to be unsuitable for residential development; or C. A private or public funding agency has declined to support a project on the site; or D. other extraordinary circumstances have rendered a site unsuitable for the program. Such a sale shall be conducted in conformance with procedures set forth in Oregon Revised Statutes, and the proceeds of the sale shall be returned to the l andbanki ng program in accordance with applicable Federal and State regulations, unless the Joint Housing Committee exercises the option to use the funds for another housing program in accordance with City pro- gram objectives and applicable Federal and State regulations.