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Board updates appraisal rules for city property transactions, adds third‑party review and port-specific language
Summary
Supervisors approved amendments to Administrative Code Chapter 23 to standardize appraisals and appraisal reviews for real‑property transactions, require conformity with professional appraisal standards and add language preserving Port Commission rental-rate parameters for property under port jurisdiction.
An ordinance amending Chapter 23 of the Administrative Code to standardize appraisals, require conformity with the Uniform Standards of Professional Appraisal Practice and add third‑party appraisal review passed the Board of Supervisors on June 7, 2016, on first reading as amended.
Sponsor remarks said the ordinance updates city practice, clarifies how enterprise departments (like the Airport and the Public Utilities Commission) can continue to operate under their charter authority, and creates specific procedures for leases and dispositions. The legislation adds port‑specific language to preserve the Port Commission’s annually adopted parameter rental rate and provides an exception where the Board of Supervisors may find by resolution that a lesser sum furthers a public purpose.
“[The bill] will ensure that the city gets at least 100% of the appraised market value when it sells or leases land,” the sponsor said, and the ordinance includes third‑party appraisal review for transactions above threshold values.
Why it matters: The changes standardize valuation procedures for city real‑property transactions and clarify how appraisals should treat community benefits or other requirements (such as on‑site affordable housing) that affect market value.
Implementation: The Department of Real Estate will use the clarified appraisal instructions when ordering appraisals; appraisers must consider conditions such as required on‑site affordable housing when calculating fair‑market value, the sponsor said.
