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2019 SESSION

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SB 1681 DGS; surplus property, opportunity for economic development entities to purchase.

Introduced by: T. Montgomery "Monty" Mason | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Department of General Services; surplus property; opportunity for economic development entities to purchase prior to public sale. Provides that prior to offering surplus property for sale to the public, the Department of General Services (the Department) shall notify the chief administrative officer of the locality within which the property is located as well as any economic development entity for such locality of the pending disposition of such property. The bill provides that the chief administrative officer or local economic development entity shall have up to 180 days from the date of such notification to submit a proposal to the Department for the use by the locality or the local economic development entity of such property in conjunction with a bona fide economic development activity. The bill requires the Department to review such proposal and provides that if the Department determines that such proposal is viable and could benefit the Commonwealth, the Department may negotiate with the chief administrative officer or the local economic development entity for the sale of such property to the locality or economic development entity. This bill is identical to HB 2182.

SUMMARY AS PASSED SENATE:

Department of General Services; surplus property; opportunity for economic development entities to purchase prior to public sale. Provides that prior to offering surplus property for sale to the public, the Department of General Services (the Department) shall notify the chief administrative officer of the locality within which the property is located, as well as any economic development entity for such locality, of the pending disposition of such property. Such chief administrative officer or economic development entity is given 180 days to submit a proposal that the property may represent a bona fide economic development opportunity, which is to be reviewed by the Department. If the Department finds that the proposal is viable and may result in favorable benefits to the Commonwealth, the Department may enter into negotiations with the chief administrative officer or economic development entity for the sale of the property. The bill provides that if no proposal is received within the 180-day period or no sale agreement is achieved subsequent to submission of a proposal, the Department may proceed with disposing of the property as provided by law. The bill contains technical amendments.

SUMMARY AS INTRODUCED:

Department of General Services; surplus property; opportunity for economic development entities to purchase prior to public sale. Provides that prior to offering surplus property for sale to the public, the Department of General Services (the Department) shall notify the chief administrative officer of the locality within which the property is located as well as any economic development entity for such locality of the pending disposition of such property and provide such chief administrative officer and economic development entity an opportunity to hold, for a period of not more than five years, the option to purchase such property for use with a bona fide economic development activity. The bill provides that if the option is exercised, the price at which the property is sold shall be the fair market value of the property or any other reasonable price that is agreed to by the parties. The bill provides that if no chief administrative officer or local economic development entity expresses an interest in holding such an option, the Department may proceed with disposing of the property as provided by law. The bill contains technical amendments.