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1. The recommendation will include : <br /> A. Disposition <br /> City Acquisition <br /> Release for general sale - (Shoreline property under <br /> 50 feet require approval of the Department of <br /> Natural Resources. Shoreline property over 50 feet <br /> would require an act of the State Legislature. ) � <br /> Limited release - The City based on various <br /> considerations can direct, by resolution, a release <br /> of limited sale generally to abutting property <br /> owners . <br /> B. Reimbursement for Monies - In addition to i <br /> ------------- --- ------ <br /> recommendation for disposition the staff will ', <br /> recommend the total expenses to be recouped by <br /> catagory or whether the City is willing to waive any I <br /> or all of the assessments outstanding. <br /> 2. Resolution to County - The Council for the piece of <br /> propety should adopt a resolution indicating what type <br /> of sale they desire together with what expenses the City <br /> desires to be reimbursed and the total amount of those <br /> expenditures . <br /> 3 . Valuation - Once the County has received the � <br /> resolution from the City regarding disposition of the I <br /> property the County will undertake a valuation of the � <br /> property. It is helpful that at the time a resolution �I <br /> is mai led to the County that a copy of the most recent � <br /> Assessor's valuation be transmitted to the County and if � <br /> possible have the Assessor update his value on that ', <br /> property. i, <br /> 4. Property Sale - If the property is directed to be I <br /> sold then the Finance Director will transmit the amount � <br /> of money that the City wants to receive from the sale <br /> from the P.I.R. Fund to the Debt Fund to pay that off. <br /> Once the proceeds of the sale are received these will be <br /> used to reimburse the P.I.R. Fund. <br /> 5. Reassessment of Property - The City has its option <br /> for any monies not recouped in the sale price for an <br /> assessment on which there was a default the ability to <br /> reassess that amount outstanding against the property. <br /> This however, would ha ve to be subject to public hearing <br /> notice to the new property owner. It is suggested that <br /> if the City intends to reassess anything not recouped in <br /> the sale price that it be noted in the resolution to the <br /> County and that any new owner be put on notice of the <br /> possible reassessment. <br /> 3 <br />