Bill > H57

This bill authorizes the Commissioner of Capital Asset Management and Maintenance to transfer two parcels of land in North Reading, Massachusetts, located at 102 and 104 Lowell Road, to the town. The bill specifies that the exact boundaries will be determined by a survey and agreed upon by the town. The town will pay the Commonwealth for costs incurred after the facility's closure, including capital and operating expenses for improvements, maintenance, replacement, or repair of the land and any existing infrastructure, but excluding costs related to facility closure, demolition, or environmental cleanup. If the town later sells or leases any part of these parcels, the net proceeds will be split equally between the town and the Commonwealth, though the Commissioner can reduce the Commonwealth's share to incentivize quick sales or development aligned with smart growth principles. The town will also be responsible for all transaction costs, such as surveys and appraisals, and any future costs associated with owning the parcels. If the town does not purchase the land by a specific date, the Commissioner can sell or lease it through a competitive bidding process, with the buyer or lessee responsible for associated transaction costs. The Commissioner also has the authority to grant or accept rights of way for access, utilities, and drainage. All transactions must include a certification from the Commissioner confirming compliance with relevant laws.