Developable Property

Procedure and Responsibility

Sold by "Sealed Bid Process"

• When a City department determines that it has potential surplus developable vacant land for which it no longer has a use, that department will notify the Right-of-Way Office. Also, if a request is received from an outside source to purchase developable City-owned property, the request will be referred to the Right-of-Way Office.

• The Right-of-Way Office will research property information and circulate the written request to all City Departments and the City Manager’s Office for their concurrences or exceptions.

• The City Manager will review the potential transfer and give authority to advertise.

• Once the Right-of-Way Office is given the authority to advertise, a public hearing will be scheduled and a proposed resolution will be placed on the public hearing portion of City Council’s agenda for consideration at the next available City Council meeting.

• The resolution will authorize that the developable property be sold pursuant to the “sealed bid” process.

SEALED BID PROCESS

• A for-sale sign will be placed on the developable property and the property will be advertised in the newspaper.

• Adjacent landowners to the property and those persons on the City’s bidders’ list will be notified.

• The property information and bid proposal form may be accessed from the City web site.

• Bids must be submitted in the manner prescribed in the “Instruction to Bidders” available from the City of Chesapeake, accompanied by a certified check, cashier’s check, or money order in the amount of 10 percent of the bid as a deposit. The successful bidder’s deposit will be applied toward the purchase price. All others will be returned. Closing shall occur within 30 days after the approval of sale.

• The bidder will pay the balance of the purchase price upon delivery of the deed. Should the successful bidder fail to pay the balance of the purchase price, the sale will be declared void by the City, and the bid deposit will be forfeited and retained as liquidated damages and not as a penalty. The next highest bidder may be notified and offered the property, etc.

• In addition to the purchase price, the successful bidder will pay the advertising costs of the newspaper ad and recording costs.

• The City Attorney will prepare the deed and settlement statement.

The City will not furnish nor be responsible for an appraisal, a survey, a title examination, or a subdivision plat. If an appraisal, survey, or subdivision plat is required by the City, the successful bidder will be responsible for same.

Employees of the City or their immediate families are not eligible to bid. The right is reserved to reject any bid. The property is being sold “as is.”