A. Except as otherwise provided by this title or another provision of law, all disposal of borough land, other than land received through tax foreclosure under AS 29.45.450 which has been held by the borough for less than 10 years, shall be for the fair market value of the interest disposed of. The borough may accept in exchange for borough land any consideration of sufficient value not prohibited by law. Unless the assembly sets a different minimum sale price in the ordinance authorizing the sale, land received by tax foreclosure under AS 29.45.450 which has been held by the borough for less than 10 years may be disposed of for the amount of taxes, penalty, interest, and fees owed which includes costs to the borough of maintaining, managing, foreclosing and selling the property.

B. The borough may dispose of borough land to the United States, the state of Alaska, or any political subdivision thereof, or a nonprofit corporation or association, for less than the fair market value of the interest disposed of, upon a finding by the assembly that the disposal will allow the use of the land for a public purpose beneficial to the borough. It may do so by direct negotiation with the organization acquiring the land, without conforming to KIBC 18.20.120 through 18.20.155, unless otherwise directed by the assembly.

C. Notwithstanding the other requirements of this section, the assembly may authorize a 10 percent rebate (not to exceed $10,000) of the purchase price for the land so long as, within 36 months of the sale date, the purchaser has constructed a residential dwelling upon the property, and has obtained all legal authorization required to occupy it.

D. For properties that are sold by the borough under the above provisions which are believed to exhibit violations of adopted building safety or land use regulations, an estimate of the costs to bring the property into compliance shall be sought. If an independent analysis by a competent contractor or engineer shows that the cost of needed repairs or remediation of the subject property added to the amount of the borough’s lien for property taxes does not exceed the potential assessed value of the property as repaired, as determined by the borough assessor, the property may only be sold pursuant to the inclusion of certain sale requirements to restore the property to compliance with adopted building safety and land use regulations within a reasonable period of time. [Ord. FY2021-25 §3, 2021; Ord. FY2017-16 §2, 2016; Ord. 86-40-O §2, 1986; Ord. 80-28-O §1, 1980].