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3. Purchasers shall be obligated to pay their fair share of outstanding <br /> L.I.D. assessments. <br /> b. Lease Requirements <br /> 1. Final approval of lease shall remain with City Council. <br /> 2. Lessees shall be obligated to pay their fair share of outstanding <br /> or newly established Local Improvement District assessments. <br /> Section 9: City Council Authority to Waive Any Provision Within Policy <br /> The City Council may waive any provision of this policy; provided, however, <br /> that prior to the time any such waiver shall become effective, the City Council shall <br /> consider: <br /> A. The specific provision of this policy which is proposed to be waived; <br /> B. The detrimental effect to the City that adherence to the provision would <br /> create; <br /> C. The benefit to the City that would accrue as a result of the waiver; <br /> D. The financial impact which will result from waiver; <br /> E. The development impact that will result from the waiver; and <br /> F. The alternatives to waiver, including the reasoning upon which such <br /> alternatives were rejected. <br /> G. Other such consideration that a Council member desires to raise. <br /> Section 10: Establishment of a Real Estate Disposition and Negotiation <br /> Committee <br /> (a) There is hereby established a Real Estate Disposition and Negotiation <br /> Committee composed f of the following: <br /> 1. Real Property Manager <br /> 2. Mayor or his representative <br /> 3. Two members of City Council <br /> 4. Finance Director <br /> 5. City Attorney <br /> The Council members shall be elected or appointed for such term and by such <br /> procedure as the Council shall determine. It shall be the responsibility of such committer <br /> to review any and all requests for surplusing City-owned property, by sale or lease, <br /> and make recommendations to the Mayor and City Council with respect to the same. <br /> -6- <br />