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alternative process is followed (see Section 272.001(b)(1), Texas Local Government Code). <br />Similarly, Section 272.001 (b) of the Local Government Code allows the same alternative process to <br />be used in instances of the sale of streets or alleys; the sale of a property to another governmental <br />entity with the power of imminent domain; the sale of property for development by an independent <br />foundation; the sale of property for use in a reinvestment zone; and other sales whereby the most <br />practical sale would be to an abutting property owner or where the sale is prompted by an overriding <br />public purpose. <br /> <br /> In the instance of each of these exceptions, the Legislature has substituted for the competitive <br />bid process the requirement that the property may only be sold for a minimum fair market value as <br />determined by an authoritative appraisal of the value of the property. <br /> <br /> Neither the State statutes nor the Charter envision the sale of an undivided interest in a <br />building. Obviously, the same basic principles must apply; that is, in selling an undivided interest of <br />real property, the City must be assured it is receiving fair market value on behalf of the public for the <br />real property interest sold. To do so in this instance, it is my view the City may participate in the sale <br />of its undivided interest with the Chamber, provided an authoritative appraisal performed by a <br />certified appraiser licensed to appraise such property in the state of Texas results in a determination <br />that the purchase price received for the property equals or exceeds the fair market appraised value. <br /> <br /> Therefore, before the City Council may lawfully authorize the sale of the City's undivided <br />interested in this property, it is mandatory the City receive such an appraisal sufficiently far in advance <br />of the City Council meeting to allow a detailed review of the appraisal to assure that the City is in fact <br />receiving fair market value for the sale of its portion of the property. <br /> <br />If you have any additional questions regarding this matter, please do not hesitate to contact <br /> <br />me. <br /> <br />/lw <br /> <br />cc: Mayor and Members of the City Council of the City of Paris <br /> <br /> <br />