Bill > H3420

This bill authorizes the commissioner of the division of capital asset management and maintenance to release several use restrictions on a specific parcel of land (Lot "6A") in the city of Revere. Specifically, the bill would remove restrictions that currently limit the land's use to parking only, prevent the landowner from using the parcel to enhance the floor area ratio of adjacent properties, and eliminate a right of reverter (a legal provision that would cause the property to revert to the original owner under certain conditions) created in a 2004 deed. The bill requires that the land's restrictions be sold at full market value, as determined by an independent professional appraisal, which must be reviewed and approved by the inspector general. The inspector general must prepare a report on the appraisal methodology and submit it to legislative committees. Additionally, the landowner will be responsible for covering all costs associated with the conveyance, including engineering, surveys, appraisals, and deed preparation. The bill provides a detailed process for reviewing and approving the land use restriction release, ensuring transparency and fair market valuation.

Government Affairs

https://malegislature.gov/Bills/194/H3420