(1) The Commissioner of Public Property is authorized to accept titles to real estate consisting of land and buildings thereon, if any, under the following terms and conditions:

(a) The property or land is considered vacant under the provisions of this section.

(b) The total consideration for the acceptance of title shall be the discharge of liens for real estate taxes, water and sewer rents, any other municipal lien charged against the property, and all delinquent real estate taxes, water and sewer rents, and any other municipal charges or fines owed to the City which relate to the specific property to be acquired but for which no liens have been obtained.[25]

(c) While any property acquired under the provisions of this Chapter is held by the City or by the Redevelopment Authority, all real estate taxes, water and sewer charges, and any other municipal charges shall be abated.[26]

(d) The Vacant Property Review Committee as set forth herein recommends and certifies in writing acceptance of title to such property.[27]

(2) Upon receiving the recommendation of the Vacant Property Review Committee that a City-owned surplus property is suitable to effectuate the purposes of this Chapter, the Commissioner of Public Property is authorized to make such property available for disposition in accordance with the provisions of this Chapter.[28]