§ 17.10.070. Land bank withdrawal—Procedure.

A.

Disposals will be held a minimum of two times within a calendar year. The sale of lands foreclosed upon for nonpayment of real property tax may be considered as one of the disposals.

B.

During the first quarter of each calendar year, the list maintained pursuant to Section 17.10.060(E), shall be reviewed by the planning commission. The list shall contain the assessor's parcel number, the legal description, general location and the fair market value or fair market rental value. After review, the planning commission shall forward its recommendations to the assembly.

C.

By ordinance, the assembly may authorize the withdrawal of land from the land bank. The ordinance shall set the date, time and place of the disposal and the method of disposal as permitted under this chapter.

D.

If any lands are not sold by the authorized means within ninety days, or the period specifically authorized by the ordinance, the property may be available for sale as an over-the-counter sale to be conducted as provided in section 17.10.100(H). Any lands not sold within 120 days after being eligible over-the-counter will revert to the land bank.

(Ord. No. 92-57, § 1(part), 1993)