Sec. 748.402. - Real Estate Division to acquire interests in land.

(a) The Real Estate Division is authorized to negotiate for rights-of-way, easements and other interests in real property necessary to undertake and complete construction projects and to acquire options therefor, which the Office of General Counsel is authorized to close on behalf of the City. The interests in real property shall be obtained in the most economical and feasible manner, including purchase, gift, donation or condemnation, and the surplus gas tax funds shall be available to pay the costs and expenses of obtaining the interests. In all cases, the acquisition of the interests shall be approved on the road program and shall be displayed on the cash flow schedule and there shall be available for payment of costs and expenses of each acquisition only those funds actually scheduled therefor. The obligation authority contained on the road program for a project shall include necessary obligation authority for the interests in real property necessary to undertake and complete the project. (b) The Real Estate Division may process and close all real estate transactions to acquire real property with an appraised value of less than $25,000 without the prior review and approval City Council. All other real estate transactions to acquire real property with an appraised value of $100,000 or more shall be subject to the prior review and approval of City Council. The Real Estate Division shall provide written notice to all City Council members before closing any real estate transaction with a value of more than $25,000 and less than $100,000. The notice shall contain a legal description or real estate number of the real property, the City Council district in which the property is located, the appraised value of the property, the purchase price of the real property and any other appropriate information. (Ord. 78-329-131, § 1; Ord. 78-744-361, § 8; Ord. 83-591-400, § 1; Ord. 2003-672-E, § 2) Note— Former § 620.402.