§ 3.12.050. Disposal for fair market value.

Latest version.

A.

Except as otherwise provided by this chapter or another provision of law, all disposals of city land shall be for the fair market value of the interest disposed of. The city may accept in exchange for city land any consideration of sufficient value not prohibited by law.

B.

The city may dispose of city land to the United States, the state of Alaska or any political subdivision thereof, or a non-profit corporation or association, or to an individual or entity as settlement of an asserted land claim against the city, for less than the fair market value of the interest disposed of, upon a specific finding by the council that the disposal will achieve a result beneficial to the city.

(Ord. 86-5 § 1 (part), 1986).

                    
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