(1) The City Manager (Manager) is hereby authorized to purchase real property with a negotiated value up to $50,000, whether by mutual agreement, or in circumstances where the Council has authorized eminent domain.

(2) Prior to purchasing any real property with a negotiated value over $10,000, the Manager shall obtain a preliminary title report and an opinion letter from a licensed realtor; or an appraisal performed by a certified real estate appraiser.

(3) The Manager may delegate their authority to obligate the City to one or more subordinates designated in writing. Authority so delegated may not exceed $10,000 on a single obligation.

(4) Notwithstanding Section 2.185(7), the Manager is authorized to lease as lessor or lessee real property not to exceed 10 years in duration, including renewals. The Manager’s authority in this section is limited to the above process for the above dollar limits as for purchasing real property.

The total City expense or income over the life of the lease including potential renewals shall be used when determining the dollar limits for a lease.