Chapter 18.80
EXCHANGE OF REAL PROPERTY

Sections:

18.80.010    Real property subject to exchange.

18.80.020    Procedure.

18.80.030    Agreements to exchange real properties.

18.80.010 Real property subject to exchange.

A. Real property acquired by the borough from the state may be exchanged for real property of equivalent value owned by a person.

B. A request to exchange real property or interest therein shall not be authorized if it is not in the borough’s best interest. [Ord. 78-7-O §2, 1978].

18.80.020 Procedure.

A. Real property considered for exchange shall be reviewed by the planning commission. The planning commission shall recommend to the assembly, by resolution, their recommendations regarding the exchange.

B. The resolution shall set out:

1. The value or method for determining value of the real properties to be exchanged by the borough and the real properties to be received in exchange by the borough;

2. Evidence of marketable title of the real properties to be exchanged;

3. Recommended terms and conditions of the exchange including the responsibility for costs of surveys, appraisals, title search, and agreement preparation; and

4. Alternatives considered.

C. After receipt of the recommendations provided in subsections A and B of this section, the assembly may find that the borough real property to be exchanged is no longer required for municipal purposes and direct the exchange be consummated in a manner and by terms established by resolution, notwithstanding other provisions of this title. [Ord. 78-7-O §2, 1978].

18.80.030 Agreements to exchange real properties.

Conceptual approval may be given to the manager by the assembly, to enter into exchange negotiations prior to receiving the planning commission resolution required in KIBC 18.80.020. Any agreement reached in the negotiations shall be in writing and then presented to the planning commission as required in KIBC 18.80.020 for appropriate action. [Ord. 98-25 §2, 1998; Ord. 84-61-O §10, 1984; Ord. 78-7-O §2, 1978].