DGS; surplus property, opportunity for economic development entities to purchase. (SB1681)

Introduced By

Sen. Monty Mason (D-Williamsburg)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

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. Amends § 10.1-1122, § 2.2-1130, § 2.2-1153, § 2.2-1156, § 2.2-1157, § 36-139.1, of the Code of Virginia. Read the Bill »

Status

01/11/2019: Awaiting a Vote in the General Laws and Technology Committee

History

DateAction
01/11/2019Presented and ordered printed 19103959D
01/11/2019Referred to Committee on General Laws and Technology

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