Bill > H4973

This bill authorizes the Massachusetts Department of Transportation (MassDOT) to convey approximately 21.55 acres of vacant land in Fall River, previously used for highway purposes, to the Fall River redevelopment authority, which is a public body responsible for improving urban areas. The land, located between Davol Street and bordered by Brightman and Turner Streets, can be developed for various purposes like housing and businesses without needing a formal urban renewal plan. The bill outlines a process for determining the land's value through an independent appraisal, reviewed by the inspector general, and requires legislative committees to be notified before the transfer. The compensation for the land will be either $1 if the Commonwealth didn't pay for it initially, or a share of future sale or lease proceeds split between the Fall River redevelopment authority and the Commonwealth over 10 years. The Fall River redevelopment authority will cover all costs associated with the transfer, and if the land is no longer used for its intended development purposes, it will revert back to MassDOT, with any future sale or use requiring legislative approval.

Budget and Finance

Joint Committee on State Administration and Regulatory Oversight (Joint)

https://malegislature.gov/Bills/194/H4973