A. Unless otherwise set forth in the franchise agreement, and in the event the city decides not to renew an expiring franchise, the city shall have the right to purchase or effect a transfer to another person of ownership in the cable system at its fair market value; except no value shall be assigned to the franchise itself.

B. In the event the city revokes, forfeits or terminates a franchise for cause, it shall have the right to purchase or effect a transfer to another person of ownership in the cable system for an equitable price. An equitable price takes into account the nature of a grantee’s breach or malfeasance and the resulting harm to the community; it is not based on fair market value or going concern value.

C. In the event the parties are unable to agree upon a price pursuant to subsections (A) or (B) of this section, whichever is applicable, said price shall be fixed and determined through an action brought by either party in a Washington State court of competent jurisdiction in King County or the U.S. District Court for the Western District of Washington, unless the parties agree to a different method of determining the appropriate price. (Ord. 5531 § 2, 2004.)