The city engineer is authorized to obtain appraisals from qualified, independent appraisers of such streets as are recommended for vacation, after the hearing by the City Council or a committee thereof, and is further authorized to obtain appraisals from qualified, independent real estate appraisers of the fair market value of the alternate right-of-way land proposed to be granted or dedicated to the City for street purposes in lieu of a cash payment in the manner contemplated by Section 12.10.090. In such instance, an additional appraisal deposit fee shall be paid for the appraisal of such parcel(s), and according to the fee and time schedule provided in Section 12.10.020. Appraisals shall take into consideration the value of any easement reserved in the vacated area by the City pursuant to Section 12.10.070.