Bill > H5448

This bill authorizes the Commissioner of Capital Asset Management and Maintenance to convey certain parcels of land in the town of Lancaster that were formerly known as the Lancaster Industrial School for Girls to the town of Lancaster. The town of Lancaster can use the parcels without any restrictions, but may choose to restrict the use of one or more parcels at a later date. The town will pay the Commonwealth $1 for the parcels, but if the town sells or leases any portion of the parcels, the net proceeds will be shared equally between the town and the Commonwealth, with the possibility of the Commonwealth's share being reduced to not less than 40% to provide incentives for the town to sell or lease the parcels expeditiously. If the town decides to retain all or any portion of the parcels for municipal purposes, the town will need to pay the Commonwealth the fair market value of the retained portion(s), as determined by an independent appraisal. The town will be responsible for all costs and expenses related to the conveyance and ownership of the parcels.

House Committee on Ways and Means (H), Joint Committee on State Administration and Regulatory Oversight (J)

https://malegislature.gov/Bills/192/H5448