SECTION 1.  Notwithstanding the provisions of sections 40E to 40J, inclusive, of chapter 7 of the General Laws, or any other special law or rule or regulation to the contrary, the commissioner of the division capital asset management and maintenance, on behalf of and in consultation with the commissioner of conservation and recreation is hereby authorized and directed to lease certain land and the building thereon (located at) in the Town of Westport and know as the lifesaving station to the Wesport Fishermans Association for a period of 25 years. Said lease shall be for nominal consideration. or full and fair market value of said real property based upon an appraisal conducted by said division.

SECTION 2.  Notwithstanding any general or special law, or any rule or regulation to the contrary, the inspector general shall review and approve the appraisal required pursuant to section 1.  The inspector general shall prepare a report of his review of the methodology utilized for the appraisal and shall file the report with the commissioner of the division of capital asset management and maintenance, the house and senate committees on ways and means and the joint committee on bonding, capital expenditures and state assets.  The commissioner of the division of capital asset management and maintenance shall, 30 days before the execution of any lease authorized by this act, or any subsequent amendment thereto, submit the proposed lease or amendment and a report thereon to the inspector general for his review and comment.  The inspector general shall issue his review and comment within 15 days of receipt of the proposed lease or amendment.  The commissioner of the division of capital asset management and maintenance shall submit the proposed lease or amendment, and the reports and the comments of the inspector general, if any, to the house and senate committees on ways and means and the joint committee on bonding, capital expenditures and state assets at least 15 days before execution of said lease.