(a) Sales of real property with a value of $25,000 or more (determined under CCO 4.20.040(b)) shall be sold using a competitive bid process. The City shall advertise for a period of not less than 14 days prior to the date of the bid opening. Advertisements shall include the minimum bid amount, the legal description of the real property to be sold, use restrictions (if applicable), any disclosures under subsection (b) of this section, and the latest date for closing of the sale. Advertising shall be in the local newspaper (if one exists), daily announcements on the local radio station (if one exists), posting on the City of Saint Paul’s website (if one exists) and posting at the City Hall, the post office and one other public gathering place on St. Paul Island. Additional advertising may be accomplished at the discretion of the City Manager. Bids shall be sealed bids and shall be accompanied by a deposit of not less than 10 percent of the amount bid in the form of a cashier’s check or other immediately available funds payable to the City of Saint Paul. No bid may be withdrawn after submission and prior to the opening of bids. Deposits shall be returned to all unsuccessful bidders not more than one week after the bid opening. The City Manager may negotiate terms of the sale with the highest bidder on all matters except price; provided, that the final agreement is subject to approval by ordinance adopted by the City Council. In the event a successful bidder does not complete the purchase, the deposit shall become the property of the City as liquidated damages. Payment in full must be made at the closing of the sale. The City Council may reject any and all bids.

(b) Before any real property is advertised for sale, the City Council shall, in addition to making the finding required by CCO 4.20.020(b), determine whether to require each bidder to disclose (1) the nature, extent and cost of any improvements that the bidder commits to construct, (2) the value of the bidder’s proposed use of the real property to the City’s economy, including job creation, and (3) other information deemed relevant by the City Council. These disclosures may, but are not required to, be considered in resolving a tie bid situation.

(c) Notwithstanding the provisions of this section, real property with a value of less than $25,000 (determined under CCO 4.20.040(b)) may be disposed of by the City Manager using a method other than competitive sealed bids; provided, that such method of sale is first approved by resolution adopted by the City Council. [Code 1979 § 6.07.060.]