Bill > H66

This bill authorizes the Commissioner of Capital Asset Management and Maintenance to transfer specific parcels of land in North Reading, Massachusetts, to the town of North Reading. The town will pay the Commonwealth for certain costs incurred after a facility closure, including capital and operating expenses related to improving, maintaining, replacing, or repairing the land and its infrastructure, but excluding costs for facility closure, demolition, or environmental cleanup. The town can pay this amount upfront or over ten annual installments. 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 be responsible for all transaction costs, such as surveys and appraisals, and any costs associated with its future ownership of the parcels. If the town does not purchase the land by a specific date, the Commissioner can sell or lease it through competitive bidding, with the buyer or lessee responsible for associated transaction costs. The Commissioner also has the authority to grant or accept rights-of-way or easements for access and utilities across these parcels and other Commonwealth property. Any agreement or deed for the disposition of this land must include a certification from the Commissioner confirming compliance with relevant laws.