§ 2-925. Conditions of lease.

A lease of city-owned immovable property for a period of more than one year, or for a period of less than one year when the lessee has the option of renewal thereof for an additional term, which together with the primary term would total more than one year, shall be valid only if the following conditions have been satisfied:

(1)

The property has been advertised by the department of property management for sealed bid, in the official journal at least three times in a period of not less than two weeks; the cost of advertising shall be borne by the eventual successful bidder.

(2)

The division of real estate and records, department of property management has established an acceptable rental range, based on fair rental value, and has evaluated all bids received and submitted its evaluation and recommendation as to the highest responsible bidder to the bureau of purchasing, department of finance. If the bid does not fall within the specific range, the division of real estate and records shall include in its recommendation an explanation of why the bid should be accepted despite its failure to meet that criterion. The evaluation may include an appraisal of fair rental value, estimated by an outside independent fee appraiser, if, in the discretion of the division of real estate and records, such an appraisal is deemed needed as supplemental information to assist in the evaluation.

(3)

The department of property management has presented its recommendations to the mayor or his designee and has prepared an appropriate ordinance for submission to the city council.

(4)

An ordinance authorizing the mayor to enter into a lease for the specified city-owned immovable property with the successful bidder, has been introduced and adopted by a majority vote of the city council, declaring the property as not being needed at this time for public purposes. Such ordinance may be adopted by a majority vote of the council on or after the day of the first legal city council meeting that is held within 21 days after the date of introduction of the ordinance. Copies of all signed lease agreements shall be filed with the division of real estate and records, department of property management, and all leases shall be maintained and enforced by them.

(M.C.S., Ord. No. 16,438, § 1(33A-1), 4-21-94)