3.0 HRSR 12-07-2015 - Laserfiche WebLink

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i. Establishing Reuse and Fair Reuse Value. Prior to disposition of Development Properties, the reuse and Fair Reuse Value should have been established for each Development Property. The Fair Reuse Value shall be periodically reviewed and may be increased or decreased based on appropriate valuation methods as approved by the CPED Appraiser. Use the linked form to contact the CPED Appraiser to review the established reuse and Fair Reuse Value and determine whether there is a need for an update or independent appraisal. Request for Reuse Value Opinion. If a formal appraisal is required, fill out the linked form and provide it to the CPED Appraiser. Request for Appraisal ii. Buildability Determination. Working with the Planning Division, the Project Coordinator should determine whether the Development Property is a "Buildable Lot" under the Zoning Ordinance. If the Development Property is a "Buildable Lot" or could be a "Buildable Lot," CPED Staff must first attempt to sell such property for development purposes. iii. Survey. While it is unlikely that the City needs to incur the expense of commissioning a Survey for a land sale, the Project Coordinator should review any available survey to identify potential title problems. If there is a need to order a new survey, use this form to contact the CPED engineering staff: Request for Engineering Services iv. Environmental Review. Environmental investigation of property should be conducted prior to CPED acquisition. The Project Coordinator should contact the CPED engineering staff to obtain any existing environmental reports or to order any updates or additional testing. If any updating or additional testing is necessary, use this form to contact the CPED Engineering Staff: Request for Engineering Services v. Title Investigation. Title insurance or other evidence of title status may have been obtained upon acquisition of the property. Upon disposition, the City will be required, in most cases, to provide title evidence that demonstrates that the City has marketable title to the Development Property. If title is not clear, the Project Coordinator shall formulate a plan regarding title clearance prior to disposition. Title evidence may be in the form of an abstract of title and owner's registration certificate or, more commonly, through a commitment for title insurance. Although the City will usually order and pay the cost of a title commitment, the purchaser is responsible for purchasing a Title Insurance Policy(except in the case of a Home Ownership Works home sale where it is the industry standard to provide a Title Insurance Policy if an abstract is not available). The Project Coordinator should contact the CPED real estate staff to obtain any title records. Generally, unless the City already has title work from a particular title insurance company, it will defer to the purchaser's choice of title insurance companies. vi. Planning Commission Review. If a Development Property is not being disposed of in accordance with a Planning Commission reviewed Redevelopment Plan, per state law, the Planning Commission must review the land sale for consistency with the City's Comprehensive Plan prior to City Council approval of such land sale unless the City Council adopts a resolution by two-thirds vote finding that the proposed disposition has no relationship to the Comprehensive Plan. A waiver has been granted from this requirement for dispositions of non-buildable parcels where a "buildable parcel" is a parcel of real property that has enough frontage width and/or area either by itself or when combined with other adjacent City-owned property to accommodate at least a single family home under the Minneapolis Updated as of 10/6/04 4