(a) Personal property shall be valued using one or more of the following methods: (1) appraisals; (2) classified advertisements for similar items in newspapers or on websites; (3) Craig’s List, eBay or similar electronic postings; (4) prior sales of similar items by the City; (5) expert valuations; or (6) other method selected by the City Manager.

(b) Real property shall be valued by an appraiser licensed in Alaska and possessing the MAI designation from the Appraisal Institute who is able to demonstrate experience in the valuation of commercial, industrial, residential and other types of real property in remote areas of Alaska. The appraisal shall be complete with a self-contained report (as such terms are defined by the Uniform Standards of Professional Appraisal Practice) and shall set forth the value using such approaches as are required by the relevant standards and reconciling those approaches to a final conclusion of value. If it reasonably appears to the appraiser that the final conclusion of value will be less than $25,000, abbreviated methods and report forms selected by the appraiser may be utilized.

(c) Enterprise property shall be valued by an (1) appraiser licensed in Alaska and possessing the MAI designation from the Appraisal Institute, or (2) other expert with experience and qualifications in valuing the type of enterprise at issue who is licensed in Alaska. The valuation shall reflect the contribution to the enterprise value of the real property and personal property to be sold as part of such enterprise along with the total intangible assets of a continuing business enterprise such as licenses, authorizing certificates, marketing and management skills, an assembled workforce, trade names, franchise, patents, trademarks, contracts, leases, goodwill, and operating agreements. All cash and noncash equivalents associated with the enterprise, including but not limited to reserve accounts, shall not be included in any sale or lease of an enterprise.

(d) Any appraiser or other valuation expert shall be retained to provide the services described in subsection (a), (b) or (c) of this section based on a request for proposals. The proposal submitted shall be evaluated based on factors selected by the City Manager, including but not limited to: (1) adherence to the proposal specifications, (2) quality of proposal, (3) proposed terms of delivery of services, (4) any additional cost associated with the location of the proposer, (5) performance record, (6) reputation for adherence to ethical standards, (7) financial capability, and (8) compliance with conditions imposed in the request for proposals. Preference may be given to an otherwise qualified local proposer as defined in CCO 4.20.010. The City Manager may reject proposals that are incomplete, nonresponsive or both.

(e) Lease rates for leases of personal property shall be determined as set forth in CCO 4.20.050(c). The method to set lease rates for leases of real property or enterprise property shall be determined by the City Council by resolution which may, but is not required to, adopt the valuation methods for sales of real property or enterprise property set forth in this section, as applicable.

(f) The City Council may reject any and all valuations obtained and request new valuations or cancel the disposal process pursuant to CCO 4.20.020(d). [Code 1979 § 6.07.040.]