Council shall take action at a duly advertised public meeting to advertise
a property or properties for sale. In the event that Council takes such action,
Council shall authorize the appropriate Borough officials to take the following
action:
A. Advertise the property for sale in a newspaper of general
circulation and include the requirements for bidding on a property;
B. Establish a minimum bid price, if any;
C. Require the bidder to provide a narrative description
of the proposed use of the property and a development plan, including a discussion
of whether the proposed use meets the requirements of the Zoning Ordinance for the property, and if it does not, an explanation as to why
a variance should be granted to permit the use;
D. Require the bidder to disclose the general ability to
obtain financing to complete the rehabilitation or development of the property
or provide evidence of the financial ability to complete the necessary work
without the necessity of obtaining financing;
E. Establish the right of Council to reject all bids submitted
with respect to any particular property;
F. Require compliance with all local ordinances, state and
federal laws and regulations;
G. Provide all bidders with information on grants, public
finance and Department of Community and Economic Development programs or any
state or federal programs available to assist an interested buyer with acquisition
or development costs;
H. Establish a deadline for submission of all bids;
I. Establish a timeline for the award of the property to
the successful bidder and a timeline within which a closing must take place;
and
J. Establish a period for a declaration of time of the essence
which, if not adhered to, will enable Council to withdraw its award of the
bid and award the bid to an alternate bidder.
The development plan referred to in §
85-1C above shall include the following information:
A. Description of the proposed use and a statement as to
compliance with the Borough's Zoning Ordinance;
B. Sketch of proposed improvements, including any landscape
plan necessary for completion of the site improvement;
C. Description of financing sources for the project or commitment
letter from financing institution evidencing bidder's financial ability
to complete the improvements described in the development plan; and
D. Ability to purchase the property from the Borough within
60 days of award of the successful bid.