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Title:
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Authorizing the sale of City real estate for cash consideration of fifty percent (50%) of its fair market value for the purpose of creating retail and commercial jobs, provided a first-priority lien on the property is retained equal to the difference between fair market value and the cash consideration, extinguishable based on fulfillment of retail and commercial job creation requirements, under certain terms and conditions.
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Action text:
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A motion was made by Councilmemer Clarke that this matter be Introduced. The motion carried unanimously.
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