City-owned land up for sale will now fall under the newly-adopted land disposition policy, which council approved at its regular meeting last Monday night.

The new guidelines were updated from the 1991 development land disposal policy which was put in place to deal with the subdivision of Pineridge.

The new rules are for land disposition through lottery, tendering or proposals.

Though it's currently the territorial government that deals with holding land lotteries for the sale of public land, under the policy, the city sets the sale price for each property prior to the lottery.

One lottery would be held for individuals, with another lottery for professional contractors in the sale of single-family and duplex lots.

A bid process would be put in place in cases of land being sold for multi-family, townhouse, commercial, industrial and mixed-use lots with the site up for sale going to the highest bidder.

"Once the highest bidder has been identified, the city and the successful bidder will ... then enter into a sale agreement," the policy reads.

"This agreement will set out the closing date for the sale at which time full payment for the lot will be required and the title will be transferred."

The proposal process would only be in place where the city opts to put out a request for proposals outlining specific goals, evaluation criteria and prices.

"The proposals would be reviewed and the lot would be awarded to the proposal that best satisfies the established development criteria," it reads.