Exit133 is about Tacoma
New Guidelines for the Sale of City-Owned Property
A resolution on this week’s City Council meeting agenda would adopt a newly drafted policy for the sale/disposition of City-owned property. The policy establishes guiding principles for which properties should be sold, a system of classifications for City-owned properties to determine which processes should be used to sell specific properties, and guiding principles for properties sold through direct negotiation.
Decisions on which properties to sell would be based on whether or not the properties meet City objectives. The City’s goals when it comes to property include private development of affordable housing, historic preservation, and increased density and improved walkability in support of the City’s Comprehensive Plan objectives.
Properties identified to be sold would be sold via one of three established processes: direct negotiation, request for proposal process, and bid sale to the highest bidder.
The document directs the City to classify its property into three tiers with differing objectives in order to guide the decision of which process to use for the sale of specific properties.
Tier one properties are those with the highest development value to the City, while tier two properties would be of slightly lower value, but still with significant neighborhood impacts.
The overall goals for the sale of tier one properties include return on investment through the generation of new tax revenue, generation of family wage jobs, spurring new private investment, and leveraging of existing public facilities while minimizing public liability, implementing City master plans, encouraging density, and promoting sustainability.
Overall goals for tier two properties are similar, but with the focus on supporting goals and strategies of the neighborhood councils and business districts by increasing affordable housing, improving walkability, safety, and overall quality of life and property values in the neighborhood, and increasing tax revenue for the City.
The sale of tier one and two properties would generally be dealt with through the RFP or direct negotiation process to give the City more control over the end use of these more valuable properties.
Tier three properties are those that are primarily of interest only to directly abutting properties or to other government entities. This third class of property would generally be disposed of through a highest bid process, with the ultimate goal of reducing City liability, returning underutilized properties to the tax rolls and private ownership, and encouraging improvement for the neighboring properties.
Do you want to help the folks at Exit133 pay our bills and keep up with of all things Tacoma? Do you want to see even more coverage? Exit133 has always been free to read and comment, and it will stay that way. However, over the years, readers have contributed to the bank account to help us keep up our coverage of goings-on around town. Contribute and this message disappears!Support Exit133