AN ORDINANCE REQUIRING A DEED RESTRICTION TO BE RECORDED UPON THE SALE OF ONE HUNDRED PERCENT (100%) OF THE CITY’S PROPERTY STOCK THAT THE CITY SELLS FOR PURPOSES OF REDEVELOPMENT THAT IS SOLD PRIOR TO THE COMPLETION OF THE PROJECT THEN THE CITY IS ENTITLED TO AN AMOUNT EQUAL TO NINETY PERCENT (90%) OF THE FAIR MARKET VALUE OF THE PROPERTY AT THE TIME THE PROPERTY IS SOLD AND ENSURING THAT ANY PURCHASER OF CITY PROPERTY SOLD FOR THE PURPOSES OF REDEVELOPMENT COMPLIES WITH ANY AND ALL APPLICABLE “BEST EFFORTS” WORKFORCE REQUIREMENTS.

Committee

Economic and Housing Development

Introduced

June 29, 2026

On agenda

August 5, 2026

Passed

September 9, 2026

Where it was heard

Municipal Council Sep 9, 2026 Close on Public Hearing and Adopt Pass Municipal Council Aug 5, 2026 Advance and Adopt on First Reading as 6F- Pass

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