City Staff is proposing a revised Property Purchasing Resolution and seeking Council discussion and input on the proposed changes.

The current property purchasing resolution is 18 years old and has presented compliance challenges for city staff when pursuing property purchases. The revised resolution addresses the following issues:

- The order in which negotiations and appraisals may occur
- The number of appraisals required
- The process by which market value is determined, reviewed, and presented to Council
- Adjusting the dollar amount at which a review appraisal is required
- Clarifying that the City Administrator may approve property purchases within their signing authority
- Revising the process by which the City may negotiate a price above appraised market value

City Council may:

• Suggest edits and/or direct staff to bring the proposed resolution to a future Council Meeting for approval.

The revised resolution will require fewer appraisals, and will also allow for greater negotiating flexibility.