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10 Mr. Brown said it is the practice of the Assessor to reflect fair market value in those situations. Mr. Caravati said there is the exception of when more development will be allowed. He said he thinks it is dangerous to develop a set of priorities because we are usually in negotiation on those things. He said he is interested in protecting the City's interest as a whole and he does not want to codify goals. Mr. Lynch made a motion to approve the proposed policy, striking the last portion of the last sentence on (6) and clarifying that the sales price is in addition to any expenses. He said he would prefer to leave the remuneration goals to a later date. He said he thinks the Comp Plan issue should be dealt with in practice rather than identifying that now. Mr. Caravati seconded the motion and the Policy Regarding Sale of City Property, as amended, was approved by the following vote. Ayes: Dr. Brown, Mr. Caravati, Ms. Hamilton, Mr. Lynch, Mr. Schilling. Noes: None. P[IBLIC HEARING/ORDINANCE: AUTHORIZING CONVEYANCE OF PORTION OF 7TM STREET RIGHT-OF-WAY Mr. Brown explained that the request is to purchase 150 sq. ft. of City right-of- way. He said that the current cement retaining wall was found to be on the right-of-way and the owners want to replace it with a brick wall in the same location, add four new parking space, and a planting area. He said the size of the sidewalk will remain the same. He said there are no City utilities and no future use anticipated. He said the ordinance includes a sales price of $22 a square foot. The public hearing was opened. Mr. Chip Royer, Attorney representing the owner, said that other options such as an encroachment was explored, but none would work. He said there will be no change other than enhancement to the physical appearance. Mr. Lynch asked if the sidewalk will be rebuilt as part of redevelopment of the property, and Mr. Royer said that would be open to discussion if it is an essential piece. Mr. Lynch said he thinks the sidewalk is pretty narrow there and asked if there is extra room to widen it. Mr. Royer said he has not heard any complaints about the and does not think it is damaging pedestrian traffic. He said there is no room to extend the sidewalk onto the property with the existing plan. Ms. Hamilton asked if Mr. Lynch is proposing that the sidewalk be upgraded as part of the payment for the right-of-way, and Mr. Lynch said yes, and that it raises the issue of having more than five feet. Mr. Brown said an estimate can be gotten for reconstructing the sidewalks. As there were no further speakers, the public hearing was closed. On motion by Mr. Caravati, seconded by Mr. Schilling, the ordinance entitled "AN ORDINANCE AUTHORIZING THE CONVEYANCE OF CITY-OWNED PROPERTY (7TH STREET N.E. RIGHT OF WAY) TO WEATHER HILL HOLDINGS LTD.," as presented, was offered and carried over to the next meeting for consideration. REPORT: DOMINION POWER COMMUNITY ELECTRICITY PURCHASING PROPOSAL