(1) The City Manager shall classify the property as one of the following based on the definitions set forth in CCO 4.20.010: personal property, real property, or enterprise property;

(2) The City Manager shall provide the City Council with a list of property that the City Manager has determined to be eligible for disposal due to such property’s characterization as surplus, obsolete or unneeded for the City’s purposes. Except for dispositions of property the City Manager is specifically authorized to make in this chapter without City Council approval, the disposition process may not commence as to any property until the City Council has determined, by resolution, that the property proposed for disposal is surplus, obsolete or unneeded for the City’s purposes;

(3) The City Manager shall determine whether personal property should be sold or should be leased. The City Council shall determine, by resolution, whether real property and enterprise property should be sold or should be leased; and

(4) The City Council shall determine whether each category of property shall be sold or leased separately or whether one or more categories should be combined and sold or leased. In determining whether categories of property should be combined and sold or leased, the City Council shall consider the following factors: (i) whether the use of each category of property is intertwined; (ii) the costs associated with selling or leasing each category of property separately; (iii) the costs associated with selling or leasing each category of property as a combined unit; (iv) the perceived market for each category of property if sold or leased separately; (v) the perceived market for the property if sold or leased as a combined unit; (vi) recommendations of the City’s staff and any appraisers, attorneys, accountants or other experts or advisors retained by the City; (vii) the effect such sale or lease may have on other City property and/or enterprises; (viii) whether liens or indebtedness on the property include bonds; (ix) whether the sale or lease of the property would affect any security interest; and (x) other factors deemed relevant by the City Council.