Bill > H4125

This bill authorizes the Commonwealth of Massachusetts to convey a certain parcel of land, approximately 0.17 acres, to the Claremont Realty Trust in the city of Framingham. The conveyance is subject to additional conditions and restrictions determined by the Commissioner of Capital Asset Management and Maintenance, in consultation with the Department of State Police. The bill requires an independent appraisal of the fair market value and value in use of the parcel, which must be reviewed and approved by the Inspector General. The consideration for the conveyance must be the greater of the full and fair market value or the value in proposed use, and any monetary payments made to the Commonwealth will be deposited into the General Fund. The Claremont Realty Trust is responsible for all costs associated with the conveyance, and the instrument executing the conveyance must include a reversionary clause that stipulates the property will revert to the Commonwealth if it ceases to be used for the express purposes authorized in the act.

Budget and Finance

Joint Committee on State Administration and Regulatory Oversight (J)

https://malegislature.gov/Bills/192/H4125