Official:Authorizing the sale of City real estate for cash consideration of fifty percent (50%) of its fair market value for the purpose of creating retail and commercial jobs, provided a first-priority lien on the property is retained equal to the difference between fair market value and the cash consideration, extinguishable based on fulfillment of retail and commercial job creation requirements, under certain terms and conditions.
Sponsor: Councilmember Clarke
Introduced: October 29, 2009
: Committee on Public Property and Public Works
Status: Lapsed
This bill was introduced in the 2008–2011 Council term and when that term ran out. The public record shows no committee vote and no floor vote at any stage, so no member of Council ever went on record for or against it.
That is not unusual here. Of the 8,465 bills introduced between 2000 and 2025, 1,624 lapsed without a single recorded vote. Ninety percent of bills that became law carry a roll call. Three percent of lapsed bills do. How this works.
This bill allows the City to sell underutilized properties for half their market value if it leads to new retail and commercial jobs. A lien is placed on the property to ensure job creation.
AI-written. Every figure is checked against the bill text.
The bill does the following
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