ORDINANCE NO. ____________

AN ORDINANCE OF THE CITY OF SAN JOSE AMENDING SECTION 4.20.080 OF CHAPTER 4.20 OF TITLE 4 OF THE SAN JOSE MUNICIPAL CODE TO ALLOW FOR THE PRIVATE SALE OF CITY PROPERTY FOR ECONOMIC DEVELOPMENT

WHEREAS, on _____________, this Ordinance was found to be categorically exempt from environmental review per the provisions of Section 15061(b)(3) of the California Environmental Quality Act of 1970, as amended, under File No. PP___________;

NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF SAN JOSE:

Section 4.20.080 of Chapter 4.20 of Title 4 of the San José Municipal Code is amended to read as follows:

4.20.080 Private Sale of Property in neighborhood business for Economic Development or Redevelopment

A. The City Council may, for purposes of the economic development or redevelopment of a neighborhood business district, convey any City-owned real or personal property or any interest in such property located in, or adjacent to, a neighborhood business district at private sale, without notice. The purchase price for such property shall be the fair market value, unless the City Council determines that a public purpose will be served by the sale of the property at less than its fair market value.

B. The terms and conditions of any such conveyance shall be at the discretion of the City Council. The City Council may obligate the transferee of the real or personal property to:

1. Use the property only for the purposes designated by the City Council.

2. Begin the economic development or redevelopment of the property within a period of time fixed by the City Council.

3. Comply with any other conditions which the City Council deems necessary to carry out the purposes of economic development or redevelopment the neighborhood business district.

PASSED FOR PUBLICATION of title this _____ day of ___________, 2003, by the following vote:
AYES:
NOES:
ABSENT:
DISQUALIFIED:
	RON GONZALES Mayor
ATTEST:
PATRICIA L. O’ HEARN City Clerk