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Council approves property transfer amid city attorney warning of legal risk under Iowa code
Summary
City legal counsel warned the council that transferring city property for less than fair market value could trigger an Iowa Code prohibition on giving away real property and raise litigation risk; after debating the risk and timing tied to an expiring option agreement, council approved the development agreement, final plat and public improvements.
City attorney Mark Emhoff told council there is an Iowa Code provision barring cities from giving away real property and that transferring property for less than fair market value presents legal exposure. "There's a certain amount of risk there," he told the council,…
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