Should the City "give" away City property?

The Salem News reports that the Portuguese-American War Veterans Post 1 in Peabody is trying to reach an agreement with the City over its current home on Tremont Street.

It seems that more than 60 years ago the City gave them permission to use the building for $1/year for 99 years. This agreement needed to be modified recently to formalize the agreement and to remove any liability for the City associated with the property.

But now the veterans want to purchase the building and property from the City, and it seems like the City would like to sell them the property as well. The trouble is that there is a rather involved and open procedure for selling City property and the veterans might not get it... or certainly might not get it for free.

There was quite a bit of arguing recently concerning the old School Admin building and whether or not the City should sell it to a non-profit health center for $1. And now comes these veterans who want this other property for $1.

What do you folks think about this situation?